Last few days to snap up HSBC discount rate mortgage deal

If you're in the market for a discount rate mortgage then you might want to consider the HSBC offer that is for a limited time only.

The group are offering a discount of 1.76% off their variable rate agreement for the first two years, which will then revert to the standard 6.75% for the remainder of the term.

You can get up to 90% of the properties value and this can be any amount up to £250,000. There is however a £2000 fee for arrangement and the typical early settlement fees you'd expect from a variable rate.

If you're looking for a short term fix then this might well be a decent solution, but remember that when that introductory period ends you're going to face much higher repayments.

You might think that you'll deal with paying more closer to the time but this can be a dangerous game. A lot of people are scraping by as it is when their introductory period ends, leaving them open to serious debt problems when their interesr rates get ramped up.