HSBC extends Rate Matcher mortgage offer
Published On 14 May 2008
HSBC has revealed that it is to extend its Rate Matcher mortgage offer for an additional six weeks.The move means that people whose fixed-rate mortgages mature before August 31st can opt to switch to a new match HSBC mortgage, subject to clear affordability criteria and a maximum loan-to-value ratio of 80 per cent.
According to the lender, its mortgage sales have jumped almost fourfold since it introduced the Rate Matcher on April 14th.
HSBC's head of mortgages, Martijn van der Heijden, explained: "Rate Matcher has been exceptionally well received by homeowners.
"We successfully serviced 37,000 calls in the first four days of the offer and we are continuing to sell almost four times our normal value of mortgages.
"While the mortgage market remains challenging for borrowers, extending the availability of our Rate Matcher mortgage means we can offer many customers an alternative to significantly higher monthly mortgage payments."
Recent figures from the Council of Mortgage Lenders showed that lending for house purchases remained subdued in March.
However, the figures did show that more people were looking to remortgage as their fixed-rate deals came to an end.
