HSBC Launches Britain’s First Fixed Rate Mortgage Below 1%
HSBC has launched Britain’s first fixed rate mortgage with interest rate below 1%. The bank is now offering customers to chance to lock in for two years at an interest rate of 0.99%, but they would need a deposit of at least 35% and will pay a product fee of 1,499.
“HSBC has launched Britain’s first fixed rate mortgage with interest rate below 1%.”
This is the cheapest fixed rate on the market and the lowest ever recorded by the financial information firm Moneyfacts. The maximum amount made available to borrowers who take out HSBC’s new mortgage is $500,000.
Moneyfacts started life in 1988 as a six page financial fact-sheet with a revolutionary idea: to bring the best financial products together in a way that allowed for comparison. Since then much has changed at Moneyfacts, but we are still committed to our founding company values of accuracy and independence.
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