View more on these topics

HSBC extends rate matcher deal to all UK homeowners

HSBC has extended its mortgage Rate Matcher offer to all UK homeowners from April 14.

This means that borrowers can now match their old rate by switching to HSBC.

The bank orginally launched its Rate Matcher offer in February but it was only available to HSBC’s existing customers.

The new deal will be available for the next five weeks, with the bank stating it will match rates as low as 4.54 per cent for a further two years.

HSBC will accept applications from customers whose fixed-rate product is due to mature before 30 June 2008. Borrowing is limited to 80 per cent loan to value and the maximum loan will be £250,000.

As HSBC does not deal through brokers the deal will only be available at its branches.

The bank will also charge borrowers a fee to match their old fixed rate. It says the size of the fee will depend on the interest rate and size of loan requested. HSBC believess 72 per cent of customers will pay a fee of £999 or less.

Head of mortgages Martijn Van Der Heijden says: “Many homeowners are worried about their monthly repayments going up and we can help take away that anxiety. Rate Matcher helps customers plan budgets over the medium term and eases the shock of seeking new borrowing when old rates expire. We’re pleased to be in a position to help.”

HSBC says that customers with loans larger than £250,000 can still make use of their rate matcher allowance and top up with another HSBC mortgage for the rest of their required funds.


Tisa establishing retirement council

Tisa is establishing a retirement advisory council, to be chaired by Standard Life head of pensions policy John Lawson. The council will lead Tisa’s work on personal and corporate pensions and other long-term savings issues.

Product matters – Simon Webster

Places for People and the Co-operative Bank in conjunction with HomeBuy have come up with something for those trying to get on to the housing ladder.

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm