HSBC's fixed interest rate mortgages have been updated and the new rates will remain available to any new home buyers wishing to take out a home loan within the next three months.

With a fixed interest rate on their mortgage, HSBC said customers can lock in their home loan interest rate for two, three or five years, with repayments on their home loan remaining fixed for the period of time selected, even if official rates rise.

Three options are available for customers wishing to fix the interest rate on their mortgage from HSBC for any of the time available timeframes. These are for two, three or five-year periods with the applicable rates being 4.15 per cent, 4.25 per cent and 4.55 per cent respectively. A typical annualised percentage rate for a fixed rate home loan for Lm50,000 for two years is 4.8 per cent per annum. These rates will remain applicable until June 30.

"HSBC's fixed interest rate mortgages have proved popular for two reasons. Firstly, they offer peace of mind. Customers know that for a period of up to five years, any fluctuations in interest rates will not affect them and their monthly repayments will remain the same allowing them to manage their finances more easily.

"Secondly, the rates being offered are very competitive and compare most favourably to HSBC's low euro mortgage rate of 4.1 per cent. Only HSBC offers this type of product in Malta, reinforcing the bank's reputation as the leading and most innovative home loan provider in the country," said HSBC Bank Malta's chief executive officer, Shaun Wallis.

More information on HSBC's home loans, including the bank's service promise and its fixed interest rate mortgages, can be obtained from any HSBC branch or by calling HSBC on 2380 2380.

www.hsbc.com.mt