New HSBC mortgages open door to first-time buyers

Date:Thursday 9th September 2010
Author: Susanna Kavka

Two new HSBC mortgages are available at 90 per cent loan to value, making them a possible home finance option for first-time buyers.

Martijn van der Heijden, head of mortgages at the firm, claimed the firm is aiming to reduce the costs associated with owning a home.

The 90 per cent loan-to-value HSBC mortgages are available on a two-year fixed-rate deal at 5.09 per cent interest or lifetime tracker at 3.69 per cent above the base rate, with a fee of £99 charged on each.

Mr van der Heijden suggested that lower costs are what the public wants in the current economic climate.

"HSBC is keen to be there for ... customers, whether it's for people looking to take their first step on the housing ladder or for people looking to improve on their current deal," he said.

Last month, the same company announced that it was extending the availability of a lifetime tracker mortgage due to exceptional demand until September 5th 2010.