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Mortgage hope offered by bank

HSBC has announced that it will offer new mortgage loans to homeowners facing the end of their fixed rate deals.

The move, which goes against the current industry trend of withdrawing products and tightening lending criteria, consists of a remortgage offer to match customers' current fixed rates for an additional two years.

This could attract high demand from people looking to remortgage in the current market conditions - with many lenders currently raising their loan rates.

However, David Hollingworth at mortgage brokers London and Country told the BBC that the bank could be capitalising on this situation through the eyecatching offer.

"HSBC has in the past not always been the most competitive in the market," he said.

"Homeowners should hold this latest offer up against what's available from other lenders."

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