27
Apr
New mortgages 'may appeal to consumers'
A new range of mortgage offerings being provided by HSBC may appeal
to consumers, it has been claimed.
According to Paula John, editor of Your Mortgage Magazine, the
offers suit current market conditions.
She was referring to the split loan mortgage plan, which enables
people to fix a proportion of the home loan, with the remainder
being variable and tracking the base rate.
Consumers have the choice of selecting products in which 25 per
cent, 50 per cent or 75 per cent of the loan is fixed, with the
rest placed on a lifetime tracker.
Ms John acknowledged they may be not suitable for everyone as some
people will view the deals as too complicated.
However, she added: "What the split loan mortgage offers is a
chance to hedge your bets, which will probably be appealing to a
lot of people who can handle the complexity of the sound of the
deal."
