HSBC reports doubling of interest after product launch

Mortgage lender HSBC has said that the introduction of a new remortgage deal at 1.9 per cent has led to twice as many people clicking through to that section of its website.

The bank also revealed that incoming calls were up 78 per cent this month from the July and August levels, after the product was introduced on September 1st.

It works as a discount deal at a 60 per cent loan-value and head of mortgages Martijn van der Heijden stated that, contrary to what some people have been saying, many people are eligible for it.

He remarked: “In reality well over half the UK’s 11.5 million mortgage holders qualify for the deal and HSBC continues to accept more than seven in ten applicants.”

The overall cost of mortgages was attacked by chief executive of first-time buyer firm Firstrung Paul Holmes.

He said rates are “obscene”, given the fact that the Bank of England base rate and Libor are both currently below one per cent.

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