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HSBC for Intermediaries is offering one of the lowest £1-million+ mortgages.

The 1.49% rate is fixed until 31 August 2020 and it is available for purchases and remortgages.

At the end of the fixed period, the rate reverts to the bank’s 3.94% standard variable rate. The overall cost for comparison is 3.56% APRC representative.

HSBC’s 1.49% mortgage has a £999 arrangement fee, and applicants will need a 40% deposit to qualify. The minimum loan size is £10,000, and the maximum loan is £5 million.  

Aaron Strutt, product director at Trinity Financial, says: “Over the last few months some two-year fixes have increased, but they still offer excellent value for money. The five-year deals are still very competitively priced

“HSBC's lowest rate is a two-year tracker that is 0.35% cheaper than the fix and it does not have any early repayment charges. This ensures borrowers have flexibility and they can switch to a fixed deal when the Bank of England base rate finally starts to rise.”

If you are an HSBC Premier customer, the two-year rate is reduced by 0.10% although the arrangement fee rises to £1,499.

Representative example: A mortgage of £1,000,000 payable over 25 years, initially on a fixed rate until 31 August 2020 at 1.49% and then on a variable rate of 3.94% for the remaining 23 years, would require 25 monthly repayments of £3,994.67 followed by 275 monthly repayments of £5,141.22. The total amount repayable would be £1,514,926.25 made up of the loan amount, plus interest (£513,702.25) and fees of £999. The overall cost for comparison is 3.54% APRC representative.

The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.

Call Trinity Financial on 020 7016 0790 to secure a large mortgage loan

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