Borrowers with HSBC with fixed rate mortgages about to come to an end have been thrown a lifeline by their bank. The HSBC has offered those with deals coming to an end prior to the end of April new mortgage deals that will match their current mortgage rates for periods of 2, 3 or 5 years. It says it hopes to extend the offer beyond April.
This will come as a great relief to borrowers with the bank that were fearing a huge rise in mortgage repayments when their fixed rate offers end in the next couple of months.
Various arrangement fees will apply, but could cost less than the cost of moving to a fixed rate mortgage based on current mortgage interest rates.
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