New mortgage customers to HSBC can benefit from no booking fee, standard valuation fee or completion fee.

This means that those whose current lender does not charge an exit fee can switch to a tracker at no cost, other than any early repayment charge payable to their current lender.

At any time during the tracker rate term, borrowers will have the freedom to apply to switch from a tracker rate to any fixed rate available, without paying any early repayment charges.

HSBC also says that customers who apply for a tracker with no fees during the HSBC ‘Your Home’ campaign period, will always find always a fee-free fixed rate available for them to apply for, provided that their mortgage is no more than 80% of the property value.

Customers will also be able to apply to ‘switch’ their mortgage rate through the channel of their choice in branch, over the phone or online.

This offer will be available to all customers: remortgagers, first time buyers and homemovers. HSBC will also pay the legal costs involved in transferring the mortgage from their existing lender.

Stuart Beattie, head of mortgages at HSBC, said: “Homeowners are telling us that they are looking for a low cost way to move to a better value mortgage to help with their monthly budgets.