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09/04/2009
New 90 per cent mortgages launched |
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HSBC has announced it is launching three new mortgage products with 90 per cent loan-to-values (LTVs).
The bank has revealed that it is using £1 billion of funding for the new deals, which may appeal to first-time buyers and are part of its strategy of lending twice as much in 2009 as it did in 2007.
Two-year fixed-rate deals are available at 4.99 per cent with a booking fee of £1,499 and 5.49 per cent with a £199 fee.
A lifetime tracker product at 4.59 per cent and a £999 fee is the third mortgage on offer at the high LTV.
The re-emergence of mortgages with higher LTVs may prompt more people to look to buy property.
Another bank in the last week to unveil such a product was Abbey, which brought in an 85 per cent LTV deal fixed at 5.84 per cent for four years, aimed at first-time buyers.
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