HSBC launches zero-fee mortgage policy
April 4, 2007 by admin
Filed under News, News-Mortgages
Those people averse to paying a fee on their mortgage may be enthused by HSBC’s new offering.
Available for a limited period until April 30th, every new HSBC mortgage taken up with the group will be fee-free.
During the peak spring homebuying season, people looking to invest in bricks and mortar can take up fixed-rate, tracker and discount HSBC mortgages with the usual booking fee of £499 waived.
Standard valuation, completion fees and exit fees will also not be applicable to HSBC mortgages.
Rob Chesters, head of mortgages at HSBC, said there had been a “proliferation” of high arrangement fees across the market “which can wipe out the savings made by re-mortgaging, particularly if the fee is wrapped up into the mortgage loan”.
He added: “However, it’s not just about upfront costs – further borrowing fees, admin fees and duplicate statement fees can all add up.
“Exit fees, in particular, are difficult for borrowers to compare – but while other lenders have been putting their exit fees up, HSBC’s has remained exactly the same – zero.”
HSBC mortgages also possess no higher lending charges, with flexible payments facilities also featuring.
