HSBC’s deal of 1.99 per cent is one of the lowest ever seen
Photo: PA
It joined the Woolwich, part of Barclays, and Cheltenham & Gloucester,
part of Lloyds Banking Group, which announced they were also trimming their
rates or launching new products.
Mortgage experts welcomed the development, after months of mortgage rates
slowly increasing, but warned the HSBC deal came with many catches and it
would be some time before a full-blown price war took hold.
HSBC launched a new discount deal with a starting rate of 1.99 per cent,
making it the cheapest deal on the market and the bank said was its lowest
ever rate. However, the mortgage is only available to people with at least a
40 per cent deposit, while it also has a £1,199 arrangement fee.
The price cuts have been triggered by recent steep falls in banks’ wholesale …
Read the original article at Telegraph
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Tags: Banks, deal, finance, mortgage, UK
