HSBC UK is giving those looking for mortgage stability more options to fix their mortgage rate for a longer term, with 3-year and 10-year fixed rates now available and added to established 2- and 5-year options.
These additions come as the bank increases the number of Feesaver mortgages with cashback offers, providing up to £750 to first time buyers and up to £500 for home movers.
HSBC UK has also reduced rates for new and existing customers.
Michelle Andrews, HSBC UK’s head of buying a home, said: “Providing customers with more options for the length of a fixed rate mortgage will help provide certainty on how much their mortgage will cost over 2-, 3-, 5- or 10 years.
“They will know what their monthly mortgage payments will be, plus it gives them greater flexibility on finding a mortgage option that suits their budget.
“We are also providing higher cashback, of up to £750 for first-time buyers, which might be particularly welcome to cover some costs relating to their move or to help them put their own stamp on their new home.”
The changes being made include a fourth rate cut this year with reductions of up to 0.35% for existing customers (3-year fixed rate 60% to 75% loan-to-value (LTV) Feesaver) and up to 0.18% for new customers (2-year fixed rate 70% to 75% LTV £999 fee).
There is also more cashback for first-time buyers, including £750 for all 5-year fixed rate Feesaver mortgages.
