2.99% Fixed rate - If you earn £75k...

ashbart

Rich get 2.99% mortgage offer




Top deals ... HSBC

BRITAIN’S most profitable bank is launching its cheapest mortgage yet — but it comes with a catch.
HSBC revealed yesterday it was offering homeowners a two-year discount rate of 2.99 per cent.
Mortgages chief Martijn van der Heijden said it reflected their push to be one of the cheapest.
But the deal is open only to customers with a salary of £75,000-plus or £50,000 in an HSBC account.
Mel Bien, analyst at Savills Private Finance, said: “HSBC is offering very attractive rates but they’re pretty restrictive. And, unfortunately, I don’t think many lenders will be able to match these for some time.”
HSBC aims to double mortgage lending to more than £15billion in 2009 amid calls to pass on base rate cuts.
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This was in The Sun today. Alright for those that earn £75,000 or have £50,000 saved in an HSBC account but what about those of us that don't even have a JOINT income of £75k?!? I fail to see the logic here. Is the idea that HSBC are relying on the "rich" having higher mortgages and therefore making more cash than on "average joe" with a much smaller mortgage but higher rate?

I wish I earnt £75k and not just for the low rate! :rotfl:

gitch01

sums up this country really :rolleyes:

deefadog

If i earnt 75k a year i would not have a mortgage LoL

juliesg

so the rich get richer and the poor get poorer sums this country up to a t

s1lvercloud

what is wrong with rich getting richer and poor getting poorer?

doesn't capitalism require that?

:cool:

ManAtHome

Looks like the same criteria as the free HSBC Premier current account (can also get one if you have a £250k mortgage). Maybe a condition of the mortgage and really there to pull in more current a/c customers..?

payless

Hi title says fixed... but appears it a discount off the variable rate ( SVR = often means no gurantees) .. so actually not as good as a tracker + 1.49% which was available until recently

_Andy_

The rate is low as Premier clients generally are lower risk - also the thinking will be that they will also get the current account business and hopefully high-value investments and insurances alongside.

maytaurus

deefadog wrote: »

If i earnt 75k a year i would not have a mortgage LoL

Nor me deefadog
and I wouldn't be in this ****** country either

koexelek

Damn..... I'm only on £74950 ........:D

ashbart

koexelek wrote: »

Damn..... I'm only on £74950 ........:D

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: