HSBC launches two mortgages to support Stamp Duty cut

Nia Williams

March 25, 2010

From Monday 29th March, the rate on HSBC’s fee free lifetime tracker mortgage with maximum LTVs of up to 90% will reduce by 0.5% from 4.99% to 4.49%. In addition, a new two year fixed rate mortgage at 2.99%, with a maximum loan size of £250,000, fee of £999, and LTVs of up to 70%, goes on sale.

Andy Mielczarek, head of retail products at HSBC, said: “Today’s move by the Chancellor to help first time buyers by removing stamp duty for all homes of up to £250,000 is welcome news. Spring is often the time of year when people start looking to buy a new home, so the combination of the stamp duty cut and our new mortgage deals gives first time buyers a healthy boost towards their goal of joining the housing market.”

According to the Council of Mortgage Lenders, with the stamp duty threshold increasing to £250,000, approximately 350,000 households buying properties between £125,000 and £250,000 will benefit over the rest of 2010.

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