Lender offers mortgage rate below 2%

HSBC has offered what it has described as its “lowest ever rate” for a mortgage.

The product is a two-year discount deal with a rate of 1.99 per cent and loan-value (LTV) of 60 per cent, aimed at those seeking remortgages.

It is among a range of new products that includes a discount deal available at 2.49 per cent and a 75 per cent LTV.

Other offerings include a two-year fixed-rate deal at 3.99 per cent and a 75 per cent LTV, as well as a tracker set at 2.74 per cent with a 60 per cent LTV.

Head of mortgages Martijn van der Heijden said: “Across the market lenders’ standard variable rates are at an all time low.”

“As a result we are launching our lowest ever mortgage rate – 1.99 per cent – to appeal to remortgaging homeowners,” he added.

The move comes as Bank of England figures have been showing a further rise in the number of home loans being granted.

Commenting on the latest data from the Bank, technical manager at brokers Mortgageforce Katie Tucker said the ongoing trend is “very good news”.

Leave a Reply

Your email address will not be published. Required fields are marked *