Lowest 5 Year Fixed offered by HSBC

With so much debate over what it going to happen with the interest rates many people have been unsure as to what they should do with their next mortgage deal. Are rates going to go up any time soon? Should we make the most of it until an announcement is made? Well if you’re tempted to enter into a fixed rate then look no further than HSBC!

HSBC’s latest offering sees a 5-Year Fixed deal at the lowest rate currently on the market, an eye-wateringly low 1.69%. The offer is available to those with a 40% deposit with an Arrangement fee of £999. This fantastic offer now takes over as the lowest rate available a title held previously by the Yorkshire Bank with their lowest rate of 1.74%.

The fact that banks want to be competitive is good news for thousands of people who looking to find a better deal, saving customers money both in the short and the longer term. Fixed-rate offers have been falling since the Bank of England cut the official interest rate to 0.25% in August 2016.

It really is a matter of looking at the bigger picture however, and when you take into account the Consumer Price Index (CPI) which increased by 2.3% in the year up to March this can indicate to economists that inflation will hit the 3% mark over the summer. Should this happen and inflation continues to rise over the long term the Bank of England will come under pressure to raise the Base Rate which will in turn see lenders increase their mortgage rates. Therefore, there may be no better time to lock into a 5 Year Fixed Rate mortgage deal like the one currently available from HSBC!

Want to find out more? Contact the team on 03333 448511 or complete the form below and we’ll be in touch shortly.