HSBC First Time Buyer Mortgage (90% LTV) 1.99% 2 Year Fix £1499 Fee
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HSBC First Time Buyer Mortgage (90% LTV) 1.99% 2 Year Fix £1499 Fee

£1,499HSBC Deals
11
Found 26th Apr 2016
First Time Buyer mortgage from HSBC with a fixed rate of 1.99% until 31/07/2018. This then moves to a Variable Rate, which is currently 3.94%.

Maximum LTV is 90%, and the maximum amount they will lend is £400,000.

The booking fee is £1499.

The maximum term is 30 years.

Overpayments of up to 10% of the mortgage value at the beginning of the year are allowed.

I am personally considering taking up this offer, would love to know if anything better is available.

11 Comments

Tasty fee but the way house prices are going the house will have increased by at least that before you even take the key so why not!!!?

HSBC: The world's local money launderer

No idea if thats a great deal now but 2.5 years back when I bought my first home the best 90%er on the market was hsbc 4.15%. If this deal was around then, even taking into account the fee, Id have saved 3300 in interest (so 4800 overall) over the 2 years. Seems hot to me if u can stump up the fee although I haven't looked to see what else is around currently.

Another option is to use the help to buy scheme/ ISA to get a 25% deposit readied. Though im banking on another bust to happen soon. Its inevitable will unsustainable house price increases. Best of luck to you OP.
Edited by: "AR2012" 26th Apr 2016

Franken

No idea if thats a great deal now but 2.5 years back when I bought my … No idea if thats a great deal now but 2.5 years back when I bought my first home the best 90%er on the market was hsbc 4.15%. If this deal was around then, even taking into account the fee, Id have saved 3300 in interest (so 4800 overall) over the 2 years. Seems hot to me if u can stump up the fee although I haven't looked to see what else is around currently.



It's the best like for like

AR2012

Another option is to use the help to buy scheme/ ISA to get a 25% deposit … Another option is to use the help to buy scheme/ ISA to get a 25% deposit readied. Though im banking on another bust to happen soon. Its inevitable will unsustainable house price increases. Best of luck to you OP.



​On the help to buy scheme you're mortgage options are very limited. You wont get much under 4%.

Franken

No idea if thats a great deal now but 2.5 years back when I bought my … No idea if thats a great deal now but 2.5 years back when I bought my first home the best 90%er on the market was hsbc 4.15%. If this deal was around then, even taking into account the fee, Id have saved 3300 in interest (so 4800 overall) over the 2 years. Seems hot to me if u can stump up the fee although I haven't looked to see what else is around currently.



dont they just add the fee to the mortgage balance?

cannycoyote

dont they just add the fee to the mortgage balance?



Mine was fee free but I think you can do both, either pay it up front or add to mortgage aye.

I'd go for it OP, this looks like the best for 90% (please check yourself, too). I have an HSBC mortgage and they are great. Just be sure you are a "vanilla" applicant-not self employed, no 2nd house etc, and you'll be ok

I don't get why this is cold?? Unless I'm missing myself.. Looking to get a mortgage and I am lost indeed on what to do, how to do it and which rate is better

Original Poster

I did the maths and for me over 2 years this was the cheapest mortgage available. There are obviously other things to take into consideration but if you're comfortable with a 2 year fix, I couldn't find anything better.
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