HSBC

A Capital Repayment mortgage means that each of your monthly repayments covers the interest and some of the initial loan. If all the payments are made the interest and mortgage will be fully repaid.

An Interest Only mortgage means that each of your monthly payments only covers the interest incurred on the loan. The initial money borrowed is still outstanding during the term of the loan. You are responsible for making arrangements to repay the capital.

HSBC also offers a combination of the two options above – Home Start Mortgage – payments are lower at the start of the mortgage meaning that you have more flexibility in your life

HSBC offers two mortgage products: Variable rate and Fixed rate products.

Variable Rate: There are no charges for making any overpayments and no early repayment charges. HSBC’s policy is to amend its rates so they are no more than 1% above the Bank of England Base Rate – and that is a promise for the length of the loan.

Fixed Rate: Repayments are constant each month during the fixed rate period and these are not affected by changes to the Bank of England Base Rate. Please see HSBC for more details.

HSBC can also help you release the equity in your home. Repayment options are Capital Repayment, Interest Only or a combination. Minimum 5 years, maximum 40 yrs.

HSBC also have a range of specialist mortgages:

• Graduate Mortgages
• Buy to Let
• Amanah Finance

Graduate Mortgage: you can choose whether to take advantage of HSBC’s variable or fixed rate products. This product is available up to 5 years after graduation. You can borrow up to 100% LTV or the purchase price, whichever is lower.

This product has the HSBC Home Start feature – repayments in the first 3 years cover interest only then they revert to capital and interest repayments for the remaining term

Buy to Let: you can choose whether to take advantage of HSBC’s variable or fixed rate buy to let products. You can borrow up to 75% LTV or the purchase price, whichever is lower.

An arrangement fee is payable. Early repayment charges apply for Buy to Let fixed rate mortgage.

Amanah Finance: these are specialist products that are suited to Muslims living and working in the UK.

• Pension Mortgage
• Bank Account Plus
• Equity Release Loan

Pension Mortgage: you pay into a pension plan, which is repaid at retirement when a proportion is collected as a lump sum free of income tax and capital gains tax.

This plan is for customers who are 18+. It suits those who are self-employed. Or if you are not a member of a company pension scheme.

Bank Account Plus: if you have a Bank Account Plus you can receive £100 cashback when you take out a new mortgage with HSBC

Equity Release Loan: you can unlock the equity in your home. You can choose from variable of fixed rates.

If you are interested in a mortgage quotation including those offered by HSBC please complete our quick enquiry form.