HSBC Mortgages offer a good variety of mortgages to aid their customers to find the right mortgage suited to their personal circumstances such as:

Fixed Rate Mortgages – Tracker Mortgages – Remortgaging – Discount mortgages etc.

The mortgages that are on offer do change occasionally and they present the customer with differing levels of freedom and protection. Periodically HSBC Mortgages puts forward a mortgage deal that meets a certain sort of purchaser or caps the mortgage to a maximal loan amount. Mortgages are offered in all instances based on a maximum LTV (Loan to Value Ratio).

HSBC Fixed Rate Mortgages give you the safety of knowing that the rate you will pay will remain the same every month up until an agreed date, regardless of what occurs to the rates of interest in the interim. Their Fixed Rate Mortgages are moveable which means if you move home you can take your mortgage along with you. Should you repay your mortgage early then an early repayment charge will apply during the fixed rate term.

Example of a 2 Year Fixed Rate Mortgage with HSBC Mortgage:

• Offers a 90% Loan to Value.
• Current interest rate is of 4.69% and returning to 3.94% HSBC Variable Rate and is available from the 31/10/2013.
• Booking fee is £ 599
• For this mortgage the maximum amount of the loan is £ 400,000
• Interest is calculated on a daily basis
• You can overpay up to 20% on your normal monthly payments without incurring a fee.
• There is an early repayment charge

Presently HSBC offer Fixed Rate Mortgages spread over two, three or five year terms. At the termination of these periods your mortgage will return to HSBC’s Variable Rate. Of course you might want to change to a different mortgage such a tracker mortgage.

Tracker Mortgages have variable interest rates. The amount of interest you pay is worked out with an accepted percentage above the Bank of England Base rate. This rate changes either up or down and this will effect your monthly repayments accordingly. These Tracker Mortgages track the Base rate for the duration of your mortgage. If the Base rate rises then you are able to change to a fixed rate but booking fees might be charged.

HSBC also have variable Discount Mortgages. These types of mortgages offer interest rates that are discounted off the HSBC Variable Rate for a certain period of time such as two or three years. With such a mortgage your monthly repayments might increase or decrease depending on the HSBC Variable Rate and whether it goes up or down. This rate is decided upon within HSBC. During the discounted term if you decide to enlarge your monthly payments by 20% or more or even repay your mortgage fully or even partially during the period of discount then a charge will be levied.