25
Mar
Mortgages launched in response to Budget
New mortgages have been launched intended for people seeking
properties worth £250,000 or less.
HSBC has rolled out two products aimed at such people and said the
development was also partly timed to coincide with spring.
One of loans is fee-free and is a lifetime tracker mortgage charged
at 4.49 per cent. It is available with a maximum loan-to-value
ratio of 90 per cent.
Meanwhile, the second offering is a two-year fixed-rate mortgage
charged at 2.99 per cent.
Head of retail products at HSBC Andy Mielczarek said: "The
combination of the stamp duty cut and our new mortgage deals gives
first-time buyers (FTBs) a healthy boost towards their goal of
joining the housing market."
In the Budget, the chancellor announced that stamp duty will no
longer apply to FTBs looking for properties worth under
£250,000.
Mr Mielczarek welcomed the move, saying it will help such people
get access to the housing market.
