HSBC drops valuation fees on mortgages
HSBC UK has removed valuation fees from its mortgages, meaning customers taking out home loans between £150,001 ($199,175) and £200,000 will save £173. Tracie Pearce, head of retail products at HSBC UK, said the bank was looking to improve the house-buying process, and the removal of valuation fees would make it easier for both remortgagors and those buying a home.

HSBC is removing valuation fees on its mortgages from today, the bank announced today.

The move means customers will taking out mortgages between £150,001 and £200,000 would save £173.

HSBC UK head of retail products Tracie Pearce says: “We are working to improve the home-buying process and this is a significant move, making it simpler for both remortgagors and those purchasing a home.

“Buying a house is a major financial investment, particularly for first time buyers, so by removing valuation fees and potentially saving them hundreds of pounds we are helping them to keep initial costs down and improving their cashflow, giving them a bit more spending power when they move in.”