Mortgage Rates - HSBC Mortgage Rates - Mortgage Rates Details and Application

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HSBC Mortgages

Before you choose a mortgage, you need a clear idea of what you need from it:

There's a wide range of Hsbc.co.uk Mortgages on offer, so there will be one right one for you:

capital repayment mortgage

This is the most straightforward way of repaying your home loan. Every month, you'll make a single repayment, which covers both the interest and some of the capital you've borrowed.
Early in your mortgage term, more money goes towards interest than capital. As the capital is reduced, the interest portion reduces and an increasing percentage is used to repay the loan.
These are the least risky of all mortgages. Provided all the payments are made, the loan will always be repaid at the end of the term.
Capital repayment mortgages can be taken out for up to 30 years, depending on your age at the end of the term.

homestart mortgage

By combining the capital repayment and interest-only mortgage types, Hsbc.co.uk have created the homestart mortgage, a revolutionary way to buy your home for first-time buyers.
Lower payments in the first three years.
Allows you to make overpayments to shorten your mortgage meets all government CAT standards for fair charges and terms.
In your first three years, your repayments are lower as you're paying only the interest element of your borrowing. after the initial 36 months, your repayments will increase and cover both the interest charges and the repayment of the capital you've borrowed.

interest only mortgage

monthly payments cover only the interest of the loan.
capital must be repaid in full at the end of the term.
borrow up to 70% of the purchase price or valuation if your annual income is £25,000 or more.
these mortgages aren't for everyone, as they require you to repay the principal of your loan in full at the end of the term. This is usually done by making payments into investment plans and using the proceeds to repay your loan. there are, however, risks involved:
- they rely on investment plans that might not perform as well as expected
- they require discipline to ensure adequate provision is made for repayment.
- Interest Only Mortgages can be taken out for up to 40 years, depending on your age at the end of the term.

buy to let mortgage

whether you're looking to buy a residential property to let for the first time, or already have a portfolio of rental properties, lending of up to 75% of the value of the property (or the purchase price, whichever is lower) and can provide loans of between £25,000 and £1,000,000.
choose between two types of mortgage, capital repayment mortgage - maximum term 25 years. interest only mortgage - maximum term 15 years.
however, keep in mind that the rental income from the property (after collection expenses) must be equal to or more than 130% of the mortgage interest payments. In addition, under buy to let mortgage, the maximum amount you can borrow, regardless of the number of properties, is £1,000,000.
buy to let mortgages are charged interest at Hsbc.co.uk's buy to let mortgage variable rate and an arrangement fee is payable on acceptance of your application. please see the interest rates page for their current rates and fee scale.
fixed rates are not currently available on their buy to let mortgages buying a home in france

pension mortgage

if you're self-employed, or not signed up to a company pension scheme, their pension mortgage might be just the choice for you.
with a pension mortgage, you make two payments every month for your home and future.
one payment covers the mortgage interest.
the second goes into a pension plan designed to repay the mortgage and provide you with a retirement income.
important - keep in mind that a pension mortgage is riskier than a repayment mortgage, as the lump sum may be insufficient to repay the mortgage should the underlying investment in the pension fund not grow as much as expected. furthermore, it must be borne in mind that you will be forgoing the prospects of a large lump sum on retirement. it will also inevitably result in you having a lower retirement income.

endowment mortgages

endowment mortgages are a specialised product offered to customers who already have a suitable existing endowment policy. please keep in mind that an endowment policy is designed to be a long-term investment, and if you cash it in during its early years, you may not get back all of the premiums you have paid in.

Additional information can be found on the Hsbc.co.uk Mortgages website.
(See the links above)

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HSBC Mortgages