HSBC for Intermediaries is offering the cheapest ever new business mortgage rate following successive Bank of England base rate reductions.
HSBC’s mortgage has a pay rate as low as 0.74% with a margin of 0.64% over the 0.1% base rate. After two years the tracker rate reverts onto the lenders 4.19% standard variable rate and the overall cost for comparison is 3.7% APRC.
The product does not have any early repayment charges and applicants will need a 40% deposit to qualify. The maximum loan size is £5 million, and the bank provides free property valuation and legal service for remortgages reducing the cost of remortgaging.
Aaron Strutt, product director at Trinity Financial, says: “We are going through incredibly tough times but homeowners still have bills to pay. This rate gives many borrowers the chance to drastically reduce their mortgage repayments.
“HSBC offers interest-only mortgages and has a generous affordability calculator enabling borrowers to secure larger loans. If you would like to secure this rate one of our brokers can submit your application quickly if you provide us with the documentation and proof of identification we need.“
Call Trinity Financial on 020 7016 0790 to secure the cheapest ever new business mortgage rate. You can also complete this form.