Pump up the bubble? HSBC offering 90% mortgages again

Lisa Bachelor
Guardian
October 14, 2011

First-time buyers are being targeted with a new range of mortgages from HSBC, which is making £350m of lending available to borrowers with small deposits.

The bank has launched a range of fee-free mortgages with a maximum loan-to-value (LTV) of 90%, including a market-leading lifetime tracker. The bank is reserving £250m of its lending for first-time buyers until the end of the year.

The mortgages include a two-year fixed-rate loan at 4.49%, a five-year fix at 4.89%, and the lifetime tracker, which tracks at 4.09% above bank base rate. For those with a 15% deposit there is a two-year fix at 4.29%, a five-year fix at 4.69% and a lifetime tracker at 3.49% above base.

Read full report here

 

This article was posted: Friday, October 14, 2011 at 6:14 am

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