HSBC mortgages provides greater choice

HSBC has launched a range of new long-term mortgages to provide a wider ranging choice.

For those people wanting the security of repaying a set amount each month, HSBC provides both standard, plus and premier fixed-rate deals, which compare fabvourbaly with other fixed rate deals form leading lenders such as Abbey, Barclays, Northern Rock and Mortgage Express.

Available in 2, 3 and 5 year formats, the HSBC mortgages have rates of 6.09%, 5.89% and 5.79% respectively, with higher rates applicable on the same products without a fee.

Tracker versions of the HSBC mortgages are another option, with the standard, plus and premier mortgages having rates of 6.24%, 6.04% and 5.94% respectively.

All of the above rates are based on a £125,000 loan with a loan-to-value rate of 90% or below.

Mortgages from HSBC have no higher lending charges, exit fees or early repayment charges.

"We are committed to making the cost of our mortgages as clear and simple as possible. However, the rest of the industry isn't so determined" said Rob Chesters, head of mortgages at HSBC.

"Exit fees in particular, are difficult for borrowers to compare, so to make it easier, HSBC charges nothing," he added.