Experts are noting that the new fixed rate mortgage deals from HSBC, the bank that announced they would do rate matching, have been incredibly well received. This was to be expected as most other banks in the UK have been raising fixed rate mortgage deals to the point where they have become unaffordable for most consumers. Although competitor banks were not pleased with HSBC’s announcements on their fixed rate mortgage deals, the move appears to have paid off in increased volume.Director at Fairinvestment.co.uk, David Doulton, says: “The HSBC Rate Matcher mortgage appears to be a really attractive deal for consumers. Many mortgage lenders have withdrawn deals or raised prices, so matching their current deal could offer homeowners a ray of hope.”"Many people will find themselves unable to apply for the HSBC deal if they do not have a deposit of 20 per cent, and high fees could make the offer far less competitive than it originally sounds,” continued Mr Doulton. “Anyone looking for a new mortgage deal – whether first-time buyers or existing homeowners – should consider all the available options rather than opting for the first deal that jumps out at them. Although the rate is important, other factors, such as the arrangement fee, should not be overlooked.”
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