HSBC Green Sale underway
Published On 5 January 2007
High Street bank HSBC has seen its Green Sale get underway by offering a new five-year fixed rate mortgage.The new product will have an interest rate of 5.17 per cent and will carry no booking or exit fees but it is only available for a limited time.
HSBC's five-year fixed rate mortgage has no higher lending charge and allows borrowers to access up to 90 per cent loan to value of the property price.
Interest on the mortgage is charged daily and it is available to both new and existing customers.
There are also free transfer packages available for borrowers switching from another lender and customers are able to make overpayments of up to 20 per cent per month without penalty fees.
Mike Oliver, HSBC Green Sale manager, said: "For the many homeowners spring cleaning their finances this January, anyone looking to re-mortgage should not only seek out a competitive rate, but be careful to check behind the headline rate for hidden fees, charges and extended tie-ins.
"Most borrowers who choose a fixed-rate deal will re-mortgage at the end of the fixed rate period rather than moving to their lender's standard variable rate. Exit fees and high arrangement fees charged by some lenders can wipe out the savings made by re-mortgaging so it's vital to know all the costs associated with your new mortgage before switching."
