HSBC reduces lifetime rate

In a move to celebrate receiving What Mortgage’s first ever seal of approval, the rate has been reduced by 0.1 per cent to 6.44%.

The Fee-Free lifetime Tracker, which is available on mortgages up to 90 per cent loan to value (LTV) on loans of a minimum of £10,000, tracks at 0.69 per cent above the Bank of England base rate for the life of the mortgage. There are no set-up fees, no fees for leaving the mortgage and it comes without early repayment charges.

Rob Chesters, HSBC’s head of mortgages, said: “We are delighted our fee-free lifetime tracker mortgage has received What Mortgage’s first ever seal of approval, and to celebrate we have lowered the rate on the loan, making it even more attractive to home buyers.”

HSBC has also won the Best National Bank category in the What Mortgage Awards for six years running for offering a consistently low standard variable rate