HSBC offers new range of low-rate remortgage products with no up-front fees from 1st September 2014

• No up-front booking or standard valuation fee
• A competitive range of 2, 3 & 5 year fixed rates
• Access to free standard legal fees for all remortgages

LONDON, 2-9-2014 — /EuropaWire/ — From 1st September 2014, HSBC is offering a new range of low- rate remortgage products with no up-front fees.

Customers moving their mortgage to HSBC face no booking fee, standard valuation fee* or completion fee.  HSBC will also pay standard legal fees** for any customers transferring their mortgage from their existing lender, meaning those whose current lender does not charge an exit fee, other than an early repayment charge, can remortgage with no upfront costs.

Customers will be able to apply to ‘switch’ their mortgage to HSBC through the channel of their choice; in branch, over the phone or online.

Peter Dockar, Head of Mortgages at HSBC, said: “Existing homeowners are telling us that they would like to take advantage of current low rates but are put off with the hassle and cost of remortgaging.

With a base rate increase now a case of when, not if, our new range will help more homeowners reduce their monthly outgoings with the certainty of a fixed rate with no cost and minimal effort.”

The fee-saver remortgage specials range includes:

2 Year Fixed Rates:

• 2.19% fixed  – 60% LTV
• 2.39% fixed  – 70% LTV
• 2.79% fixed –  80% LTV

3 Year Fixed Rates:

• 2.69% fixed  – 60% LTV
• 2.89% fixed  – 70% LTV
• 3.29% fixed –  80% LTV

5 Year Fixed Rates:

• 3.19% fixed  – 60% LTV
• 3.49% fixed  – 70% LTV
• 3.89% fixed – 80% LTV

In addition, HSBC continues to offer a wider range of competitive rates including:

• 60% LTV 2-year fixed – 1.49% with £1,999 fee
• 60% LTV 2-year discount – 1.49% with £1,999 fee
• 60% LTV Lifetime tracker – 1.99% with £999 fee
• 90% LTV 2 – year discount – 2.89% with £999 fee

Notes to Editors

* HSBC will cover the cost of a standard valuation where this is required by HSBC as part of the mortgage application

** HSBC will pay the standard legal fees for customers moving their residential mortgage from another lender, subject to remortgage legal work being completed by a solicitor or conveyancer on their approval panel.  Fees are applicable for any additional legal work required such as a transfer of title.

Lenders with no exit fee include NatWest, RBS, Penrith Building Society, and Kent Reliance.