HSBC Tracker Mortgages Available With Zero Fees

HSBC tracker mortgages available with zero fees for a limited time.

Customers moving to HSBC tracker mortgages will for a limited time not have a booking fee, standard valuation fee (HSBC will cover the cost of one valuation where this is required as part of the mortgage application) or completion fee. The offer is available until 5 June 2011.

This means that those whose current mortgage lender don’t charge an exit fee can switch to a tracker at no cost, other than any early repayment charge payable to their current lender.

There are a number of providers with no exit fees, including RBS, Lloyds TSB, Natwest, Santander, Halifax and Cheltenham & Gloucester.

Another plus is that at any time during the tracker rate term, borrowers can apply to ‘switch’ from a tracker rate to any fixed rate mortgage available, without paying any early repayment charges.

For those customers who apply for a tracker with no fees during the ‘Your Home’ campaign period, HSBC will ensure that until 31 December 2012 there is a fee-free fixed rate available to apply for, provided that the mortgage required is no more than 80% LTV.

The offer is available to those looking to remortgage or move home and for first time buyers.

Where there is no change in ownership of the property or it’s title, HSBC will also pay the legal costs involved in transferring the mortgage from the existing lender.

Stuart Beattie, Head of Mortgages at HSBC, said: ‘Homeowners are telling us that they are looking for a low cost way to move to a better value mortgage to help with their monthly budgets.

‘Our zero fee trackers allow them to reduce monthly outgoings with minimal hassle and cost. Borrowers with a lender which charges no exit fee can switch to a lower rate at no cost at all.’

The ‘Your Home’ campaign offers also include preferential terms for HSBC Premier and HSBC Advance current account customers on their LifeChoices protection range, as well as 25% discount on new HSBC home insurance policies taken out with a new mortgage.

A Kantar Media study showed that HSBC and first direct offered the most best buy mortgages in 2010.