HSBC is offering a new range of low-rate remortgage products with no up-front fees, available from today (1 September).
Customers moving their mortgage to the bank will face no booking fee, standard valuation fee or completion fee.
It will also pay standard legal fees for any customers transferring mortgages 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 up-front costs.
HSBC noted that lenders with no exit fees included Natwest, Royal Bank of Scotland, Penrith Building Society and Kent Reliance.
Customers will be able to apply to switch their mortgage to HSBC 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 range includes: two year fixed rates at 2.19 per cent fixed with 60 per cent loan-to-value, 2.39 per cent fixed with 70 per cent LTV and 2.79 per cent fixed with 80 per cent LTV.
The three year fixed rates include: 2.69 per cent fixed with 60 per cent LTV, 2.89 per cent fixed with 70 per cent LTV and 3.29 per cent fixed with 80 per cent LTV. Finally, the bank’s 5 year rates include: 3.19 per cent fixed with 60 per cent LTV, 3.49 per cent fixed with 70 per cent LTV and 3.89 per cent fixed with 80 per cent LTV.
