HSBC "amazing" new deal...

Steel_Tomb · 09-04-09, 04:39 AM

http://uk.biz.yahoo.com/03092009/389...-mortgage.html

1.99% interest... sounds great doesn't it. Only catch is you need a minimum of 40% deposit. I mean who the **** has say about 80 to 90 thousand quid to put down as a deposit these days. They want the deal to encourage competition between other banks looking to grab customers attention, but whats the point? I honestly don't see the point of having deals which are quite simply out of reach of about 75% of people at the moment. I would like my own place in a few years, but the lowest deposit HSBC would want is 25% of the property price upfront. Its rediculous first time buyers are being completely priced out of the market. The way things are at the moment, I'll never get on the property market even with a half decent job. Even if I was earning 30k a year (which I'm not, just got made redundant!) BEFORE the fat taxman gets his grubby mits on it, it would take me about 5 to 7 years to save up enough money just for the deposit.

/rant

09-04-09, 04:39 AM	#1
Steel_Tomb Ace of the Deep Join Date: Mar 2007 Location: Cambridgeshire - UK Posts: 1,128 Downloads: 0 Uploads: 0	HSBC "amazing" new deal... http://uk.biz.yahoo.com/03092009/389...-mortgage.html 1.99% interest... sounds great doesn't it. Only catch is you need a minimum of 40% deposit. I mean who the ** has say about 80 to 90 thousand quid to put down as a deposit these days. They want the deal to encourage competition between other banks looking to grab customers attention, but whats the point? I honestly don't see the point of having deals which are quite simply out of reach of about 75% of people at the moment. I would like my own place in a few years, but the lowest deposit HSBC would want is 25% of the property price upfront. Its rediculous first time buyers are being completely priced out of the market. The way things are at the moment, I'll never get on the property market even with a half decent job. Even if I was earning 30k a year (which I'm not, just got made redundant!) BEFORE the fat taxman gets his grubby mits on it, it would take me about 5 to 7 years to save up enough money just for the deposit. /rant __________________ _______________________________________________ System Spec: Intel Core 2 Duo 2.4Ghz \| 4Gb Corsair XMS2 Dominator DDR2 PC-2 6400 RAM \| XFX GeForce 8800GTS 640mb PCI-E \| Creative X-fi sound card \| 250Gb HDD \| Rest In Peace Dave, you will be missed.**