UK Money News
14th May 2008
HSBC extends mortgage rate match offer
HSBC has confirmed it is to extend its offer to match rival lenders mortgage rates by six weeks.
The lender will now offer the Rate Matcher mortgage to Britons coming off the fixed term of their current home loan until June 29th.
However, to be eligible the term must end before August 31st and the mortgage must not exceed 80 per cent loan to value.
HSBC will also only match the loan for the two year period if the loan repayment rate is 4.54 per cent or above.
The company claims that by extending the availability of the offer, many more borrowers will be spared the "shock of potentially higher repayments at the end of their fixed rate mortgage period".
HSBC head of mortgages Martijn van der Heijden said: "Rate Matcher has been exceptionally well received by homeowners.
"We successfully serviced 37,000 calls in the first four days of the offer and we are continuing to sell almost four times our normal value of mortgages."
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