New mortgage discounts may not lift gloom

Homeowners deciding whether to move – or to improve their current home with something like a conservatory or pool house – may be interested in the latest comments from a property website.

According to, new affordable mortgages will not necessarily lift the doom and gloom surrounding the market.

HSBC recently announced it is offering a two-year discounted rate of 1.99 per cent, which will be available to those with a 40 per cent deposit. partner relationship manager Jon Brown explained the recent offer from the lender was "tantalising", but suggested the countrys renters may not be ready to buy yet.

He said some might decide to wait and see if such offers were made available for a lesser deposit.

"Of course we expect to see home buyers increase – this is certain, but Im not convinced that this is the ray of sunshine we’ve been holding on for…just yet" Mr Brown added.

Meanwhile, HSBC is also offering a 2.49 per cent two-year deal to those with 25 per cent deposits, with both deals having and arrangement fee of £1,119.