Graduate Mortgages with HSBC
March 7th, 2008 | by admin |HSBC offer a special product for graduates who have finished university in the past 5 years.
To qualify you need to have a Graduate Plus current account. The Graduate mortgage includes:
- Borrowing upto 4.5 times income. However, this depends on affordability. If you are making student loan repayments this will count against you.
- For normal mortgage products a deposit of only 5% is required. This is good with lenders such as the Nationwide insisting on 10% deposit.
- Choose from fixed rate mortgages, tracker mortgages or variable mortgages. These all come without any extended tie in period, meaning that you can remortgage to another company in a few years.
- Interest is charged daily.
- The tracker mortgage enables a degree of flexibility and you can overpay without incurring a fee. However, there is a fee for overpaying the fixed rate or variable mortgage
- Option of home start - years of interest only payments
- There is no exit fees
- No tie in period
