HSBC moves to take mortgage market share

HSBC is bucking the trend in the mortgage market by offering to match homeowners' existing mortgage deals. HSBC is targeting the 1.4 million customers who are coming off fixed rate deals this year and is offering to match their existing fixed rate deal. This includes borrowers on rates as low as 4.54% for a further two years. HSBC (the largest bank in the UK) only has 3% of the UK mortgage market and is gearing up for a significant uplift in demand from their matching deal. This is contrary to First Direct's (owned by HSBC) decision to stop accepting new mortgages (reported 'In the News' 2 April). It also bucks the trend of other mortgage providers who are reducing the size of mortgages (reported 'In the News' 8 April).

HSBC's deal will be available to new HSBC customers for five weeks, it is only available for those coming off a fixed rate deal, borrowers will need at least 20% equity in their property and their will be a maximum arrangement fee of £999.

	Ethanol industry squuezed by commodity prices sky rocketing	The Times	Mon Apr 7	0
	Face gives away sexual intentions, new study says	The Times	Wed Apr 9	9
	Bird flu: father infected by dying son	The Times	Mon Apr 7	1
	Will locals be clamouring to live above Prince Charles's grocery?	The Times	Mon Apr 7	0
	Bird flu: father infected by dying son - Times Online	The Times	Tue Apr 8	0