HSBC to equal rates on current home deals
HSBC is preparing to exploit rivals' weakness in the UK mortgage market with an offer to match homeowners' existing deals, the Financial Times said on Wednesday.
TV deals and Henry sale boost Arsenal's profitsHSBC, which has just 3 percent of the mortgage market, is targeting some of the 1.4 million customers who come off cheap fixed-rate deals this year to face sharp rises in mortgage costs, the newspaper said.
"We're in an incredibly strong position while others are stepping back," it quoted Joe Garner, UK personal finances head at HSBC, as saying.
"We remain competitive and are selective about the right sort of business."
Many potential customers are struggling to find a home loan as banks, facing difficulties raising funds because of the global credit crunch, rein in lending.
The Financial Times said HSBC was gearing up to cope with three times its current level of business as it prepares to launch the offer to non-HSBC customers for a five week period.
(Reporting by Mark Potter, editing by Elizabeth Fullerton)
- 1 Nick Jonas and Selena Gomez- Disney Love in the Air
- 2 Citibank First Introduces Multi-Functional Octopus Credit Card
- 3 Hong Kong Inflation Skyrockets, Jumps Up to Highest in 11 Years
- 4 Revolutionary Configuration Tool to Dramatically Reduce Network Design Time for SI and ISP.
- 5 Christian Bale arrested, released; denies assault
- 6 HKs anti-money laundering efforts hailed
- 7 Hong Kong Book Fair 2008 draws the young
- 1 Paulson says financial stability is top priority
- 2 Yahoo 2Q profit erodes but not as badly as feared
- 3 Wa Wa Woes
- 4 Obama vows to work for Mideast breakthrough
- 5 Beijing has first workday under car restrictions
- 6 Hong Kong consumer prices rise 6.1%
- 7 SOHO China shares rose as new Beijing project good pre-sales
|
- 1 Ford posts $8.7 billion loss on asset write-downs
- 2 Microsoft exec who led Yahoo buyout team to leave
- 3 Toyota outsells GM worldwide in first half
- 4 Flight with 7 congressmen makes emergency landing
- 5 More airlines report losses because of fuel costs
- 6 UAL reports 2Q loss of $2.73 billion
- 7 Yahoo 2Q profit erodes but not as badly as feared
|
|
