HSBC has warned homeowners to be wary of hidden charges when looking to find a remortgage deal.
The financial services provider made the comment as it unveiled details of a new five-year fixed-rate mortgage.
Offering mortgage rates of 5.17 per cent, the deal also includes no booking fee and no exit fee or higher lending charge.
The mortgage deal has been made as part of the HSBC Green Sale, whereby every product sold will see HSBC contribute £2 to an environmental fund that will then be passed on to charities such as the Climate Group and the Earthwatch Institute.
HSBC Green Sale's manager Mike Oliver explained that, in addition to helping green causes, people signing up to the deal would avoid the charges demanded by some mortgage lenders.
"Exit fees and high arrangement fees charged by some lenders can wipe out the savings made by remortgaging so it's vital to know all the costs associated with your new mortgage before switching," he said.
HSBC is the UK's largest bank and offers a range of financing products in the loans sector, such as personal loans, secured loans, debt consolidation loans and business loans.
HSBC warns about hidden remortgaging charges from some mortgage lenders
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HSBC warns about hidden remortgaging charges from some mortgage lenders
Fri, 05 Jan 2007
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