Advisers split on HSBC's discount 1.99% mortgage

While some brokers say they are wary of being priced out of the market, others argue it could reignite competition in the market. Last week, the lender - which has pledged never to deal with intermediaries- launched a two-year discount mortgage at 1.99%, which requires a deposit of 40%. The offer is 1.95% below its standard variable rate (SVR) and may alter if HSBC adjusts its SVR. The offering marks the latest in a line of market -leading deals that intermediary lenders have so far failed to match. Although the rate is only available to direct customers, the deal comes at a time w...