HSBC to Match Homeowners Loan Deals

Thu, 10 Apr 2008

With the majority of mortgage lenders withdrawing products and increasing rates, HSBC have bucked the trend by announcing they will match homeowners existing fixed rate deals for up to two years. Although the bank will charge a fee for extending consumers’ deals, with nearly half of the residential mortgage deals on the market being withdrawn, the news will come as a welcome boost to homeowners fearing a hike in monthly repayments .

With the bank expecting huge demand for their offer, they have set a criteria stating customers must have at least 20 per cent of the equity in their home, with the variable fee dependent upon how much customers wish to borrow and over what period of time.
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