From This is Money:
The mortgage is only available to those with a big deposit of 40% though and comes with a sizeable £1,199 fee.
A pair of attractive discounted rates for those with smaller deposits are also available at 2.49% for those with a 25% deposit and 3.89% for homebuyers with a 10% deposit.
But, despite pledging £15bn worth of mortgage lending in 2009, HSBC has been criticised for its slow processing of homeloans and potential borrowers have been warned not to get their hopes up.
Andrew Montlake, of independent mortgage brokers Coreco, said: ‘Another headline-grabbing mortgage range and rate from the HSBC machine but borrowers shouldn’t get over-excited.
‘HSBC’s tactic is to create a buzz, take in as many applications as possible and then embark on a ruthless cherry-picking exercise whereby it only lends to those it considers worthy.
‘So, great for HSBC but not so great for all the borrowers whose hopes are momentarily lifted.
‘Reports are that the percentage of applicants…
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