While other banks have been forced to withdraw many, if not all in some cases, of their mortgage products, HSBC is offering mortgage deals to those whose fixed rate deals are coming to an end.

The bank is proposing to match borrowers cheap fixed rate deals for another two years. Of course, the offer comes at a price, accompanied by a strict set of rules and a fee.

Rates as low as 4.54% will be matched on a maximum mortgage of £250,000. To qualify for the deal, a minimum of 20% equity is required.

To take advantage of the deal customers must be quick as it is only open for 5 weeks, ending on June 30 th .

HSBC is able to offer such deals amid the current poor market trends as it uses its masses of savers deposits in order to fund its lending. This enables the bank to be less reliant on the market as it does not borrow from money markets.

With an estimated one million borrowers due to come off their fixed rate mortgages, HSBC expects to do three times the usual amount of business in the coming weeks.