Wealth workout: latest credit card and mortgage deals examined Low-cost mortgage deal Last week, HSBC launched what it claimed was the cheapest rate ever for a five-year fixed-rate mortgage. Those taking out this home loan will be charged a market-leading rate of 2.99pc. However this deal is only available to those with at least a 40pc deposit (or 40pc equity in their home if they are remortgaging). Borrowers will also be charged a £1,499 booking fee. The maximum loan size is £500,000. Verdict: Yet again HSBC has shown it is a competitive force in the mortgage market. However, while it may offer keener mortgage rates than many of its rivals, it is just as strict on its lending criteria, and only those with a comfortable slice of equity in their home will be able to benefit. As with many market-leading mortgage deals, there is a sizeable fee to pay, but it is often worth paying this money upfront to secure the cheaper borrowing rate. Few economists are predicting a rate rise soon, but if you don't want to take this risk, the HSBC allows you to protect your monthly repayments, without paying significantly over the odds. There are early repayment charges within this five-year period, but borrowers can repay up to 20pc of their balance, without charge. Fluid credit mbna has just launched a new 'Fluid' branded credit card which offers does not charge any interest on balance transfers for 15 months, and also has a 0pc deal for new purchases for five months. For those taking up the balance transfer offer, borrowers will pay a fee equivalent to 1.5pc of the debt transferred onto the card. At the end of these introductory periods, cardholders are charged an APR of 15.9pc. Verdict: Andrew Hagger of Moneynet.co.uk said this card certainly looks attractive. The balance transfer fee is significantly lower than most cards in the market, and the interest rate charged once you are out of the interest-free period, is well below the market average of 18.3pc. However, he added that one of the key advantages of this card was that it allowed holders to make payments directly to your current account. This effectively would allow those with expensive overdrafts to move this debt onto the card and pay it off over a 15-month period, interest free. Asda money credit card Asda has launched a new credit card as part of its rebranded "Asda Money" operation. This offers 1pc cashback on spending in Asda stores, its petrol stations and on its website. Cardholders can earn a further 0.5pc on spending elsewhere. The card is also offering an interest-free balance transfer offer for a year, which comes with a 2.9pc fee. The card is advertising a "typical" APR of 14.9pc, but the exact rate you pay will depend on your credit history, and those with a less than perfect record could be offered APRs of up to 24.9pc. Verdict: Kevin Mountford of Moneysupermarket.com said it was good to see renewed competition from the supermarket banks. He said for customers who regularly spend money at Asda, this cashback rate would be attractive, particularly those who drive regularly and have large petrol bills. Unusually there is no cap on the cashback earned, allowing cardholders to make substantial savings. If you aren't a regular Asda-shopper then this cashback deal is less attractive.