HSBC offers 5-year fixed rate mortgages
HSBC Bermuda has introduced a new five year fixed rate mortgage in an effort to offer customers alternative financial planning products. This limited time offer is ideally suited for any new borrower seeking the stability of a fixed payment amount over the first five years of their mortgage. First time home buyers and seasoned real estate investors looking for the security of a monthly mortgage payment in a changing interest rate environment or who are interested in locking into a competitive rate for the next five years are best suited for this option.
Those on a budget or a fixed income can also benefit from a fixed rate mortgage because of its stable nature. Knowing exactly how much is going out of your pay check for your mortgage repayment means you can budget more effectively without having to worry about rising interest rates. This also helps when budgeting and planning around other key financial needs such as saving, investments and insurance.
"If you have a large mortgage, even a slight rate increase may mean big increases in your monthly mortgage payment. You may be better off with a fixed rate. If you wish to be cautious, then the fixed rate mortgage can be your option" said Head of Retail Banking Wealth Management, Blake Hellam.
“By offering this low rate on a fixed rate mortgage for a limited time, we are adding another way to home ownership. This offer is an extremely competitive rate at 6.10%* for the next five years” he continued.
Customers interested in learning more can visit www.hsbc.bm/homesolutions or call 1 441 299 5959 today to book an appointment with a Personal Banker.