HSBC Mortgage Offer Woos British Homeowners
Apr 9th, 2008 | By Contrarian Profits | Category: Featured, Financial News, International InvestingBanking giant HSBC has announced it will offer British homeowners facing higher mortgages rates the option of matching their old rates by switching to HSBC, according to a report on Dow Jones Market Watch.
The HSBC mortgage offer means HSBC customers can apply for the “Rate Matcher” mortgage, which matches rates as low as 4.54% for the next two years.
“They’re desperate to find one bank willing to lend to them, let alone a selection. So even though it’s costing banks more to borrow money, they’re able to widen their profit margins substantially – say to more like 1% or more.
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