HSBC is the latest bank to prune fixed interest mortgage rates, announcing today that it has lowered its three, four and five year rates.The three year fixed rate has been reduced by 20 basis points from 7.29% to 7.09%, the four-year rate by 24 basis poin
HSBC is the latest bank to prune fixed interest mortgage rates, announcing today that it has lowered its three, four and five year rates.
The three year fixed rate has been reduced by 20 basis points from 7.29% to 7.09%, the four-year rate by 24 basis points from 7.69% to 7.45% and the five-year rate by 34 basis points from 7.99% to 7.65%.
The bank now offers the lowest home loan rates in the market across all fixed rates from six months to five years.
However, not just any average Joe can sign up – to be eligible to take up the HSBC home loan offer, customers need to qualify for HSBC Premier, with minimum combined home loans of $500,000, or $100,000 in savings and investments.
HSBC’s manager private clients Glen Tonks said: the low rates give customers the ability to lock in the rates for the next six months to five years, providing them with certainty around their mortgage payments in an “otherwise volatile” market.
“We’re advising individuals to act quickly if they wish to take advantage of our current home loan rates,” he said.
