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Low rates for the rich: UK

Staff Reporter 1 minute read

Borrowers in Great Britain will be able to lock in a home loan rate of just 2.99 per cent next month following the launch of HSBC’s cheapest ever home loan –  but only if they are wealthy enough.

Europe’s largest bank HSBC unveiled the two year, 2.99 per cent home loan on Wednesday, but qualifications for the loan are tough.

To qualify, borrowers will need to have savings of £50,000 (A$110,000) with HSBC, or be looking to borrow at least £250,000 pounds (A$550,000) and have a salary of £75,000 ($165,000) or more.

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Low rates for the rich: UK
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