HSBC beats other banks with a SVR at 6.25 percent

HSBC Bank PLC branded the world’s local bank made announcements yesterday that it will continue being the market leader with its Standard Variable mortgage rate 6.25 percent.

Immediately after the Bank of England decision to cut the base rate by 0.5 percent on the October HSBC follower by cutting its rate on its tracker mortgage by 0.5 percent where as many other banks did not.

Research through Defaqto showed HSBC having the lowest standard variable rate (SVR) out of all the mortgage lenders in 2007. HSBC also have the lowest rate out of high street banks and building societies.

If you have a 10 percent deposit on your home’s value (90 percent Loan to Value) HSBC offer a range of lifetime trackers that hold no redemption penalties with great rates.

Source: easier.com

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