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HSBC for Intermediaries is offering one of the most competitively priced two-year fixed-rate mortgages.

The rate is 1.24% and it is fixed until 31 March 2022. Once the deal expires, it reverts to the lender’s 4.19% standard variable rate. The overall cost for comparison is 3.8% APRC representative.  

There is a £999 arrangement fee, and applicants will need a 40% deposit to qualify. The maximum loan size is £5 million and if you are remortgaging to the bank there is a free property valuation and free legal fees.

Aaron Strutt, product director at Trinity Financial, says: "HSBC has just lowered the price of its two, three and five-year fixes and improved its low deposit rates. The bank has some lenient acceptance criteria and specialises in offering larger loans."

Many of the banks and building societies are still reducing the cost of their fixed and tracker rate mortgages to ensure they have a positive start to 2020.

Over the last week at least 20 lenders have lowered the price of their mortgages inducing Halifax, Clydesdale Bank, Skipton for Intermediaries and HSBC. Some rates have been improved by 0.25%.

Call Trinity Financial on 020 7016 0790 to secure a fixed-rate mortgage

FAQs

What is the lowest two-year fixed-rate mortgage?

Halifax for Intermediaries is offering a selection of the most competitively priced fixed-rates.

Halifax currently has the cheapest two, three and five-year fixed-rate mortgages and the second-lowest ten-year fix. The mortgages are available for property purchases and applicants will need a 40% deposit to qualify.

The lowest rate without a minimum loan size is 1.17% and it has a £995 arrangement fee. After the fixed-rate, the mortgage reverts to the lenders 4.24% standard variable rate and the APRC is 3.8%. It is available for mortgages up to £1 million.

How long does it take to get a mortgage offer?

If you have a larger deposit and a clear credit history, it is often possible to secure mortgage offers very quickly. It typically takes around two weeks to secure a mortgage offer although some of the lender's online systems enable our brokers to produce mortgage offers in a day.

More of the lenders are providing free property valuations and relying on computer systems to check if properties are suitable for mortgage purposes.

A decision in principle or agreement in principle provides a good indication that you will be accepted for a mortgage but it is not a guarantee of lending.

Are there any mortgages without early repayment charges?

There is a selection of lenders offering mortgages without early repayment charges and the rates are competitively priced.

HSBC, Nationwide for Intermediaries and Barclays for Intermediaries have a range of two-year tracker rates while Leeds Building Society has a two-year fixed rate without early repayment charges. Coventry for Intermediaries has one of the most competitively priced term-tracker rates without tie-ins.

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