HSBC is offering a two year deal which represents the bank’s lowest rate mortgage ever offered.
However, the 1.99% two-year discount loan is only available up to 60% LTV.
The range of new loans includes a second two year discount mortgage for customers with at least a 25% deposit at an interest rate of 2.49%. Both discount mortgages have arrangement fees of £1,199 and are discounted from HSBC standard variable rate (currently 3.94%).
A new three year fixed rate mortgage, at 4.19% with a fee of £999 and a maximum loan to value of 60% is also available.
Martijn van der Heijden, head of mortgages at HSBC said: “Across the market lenders’ standard variable rates are at an all time low