HSBC's 90% mortgage

17 October 2011

HSBC are offering first-time buyers mortgage deals with only a 10% deposit.

The high street bank has put aside £250m of its lending budget until 2012 to help first-time buyers get on the property ladder, the Guardian has reported.

A 10% deposit will help you to gain one of three mortgage deals:

Mortgage type

Length

Interest rate

Fixed rate

Two years

4.49%

Fixed rate

Five years

4.89%

Tracker

Lifetime

4.09% above the base rate

 

For those with higher deposits available there are better mortgage deals available with lower interest rates.

A 15% deposit will help to allow you access to:

Mortgage type

Length

Interest rate

Fixed rate

Two years

4.29%

Fixed rate

Five years

4.69%

Tracker

Lifetime

3.49% above the base rate

 

HSBC’s new range of 90% mortgages, in addition to Aldemore’s 100% mortgage and 95% mortgages available from several building societies have created a positive buzz about lending.

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