HSBC has cut rates across its range with the 60% loan-to-value (LTV) term tracker coming down by 0.1% to a low of 0.99%.
The 0.99% two-year tracker, comes with a £999 fee, or £749 for existing HSBC Premier or Advance customers, and no early repayment charge.
The rate cuts are across the full LTV range from 60% to 90% LTV and the bank’s two-year and five-year fixed rate fee free mortgages.
Tracie Pearce (pictured), HSBC UK’s head of mortgages, said: “We were the first to break the 1% mark last year with our two-year fixed rate mortgage, and we are now going sub 1% with our two- year tracker mortgage.
“For those looking to purchase now, these rates offer great value, making home buying or remortgaging more affordable.”
Tesco Bank launched a 60% LTV variable loan on the 6 June at 0.98% with a fee of £1,495 which is the lowest-ever variable rate for the market.
HSBC also emerged top of a global banking survey, dictated by capitalisation and its move into the intermediary market meant partnerships with 19 distributors by May with plans to have the whole of the Appointed Representative market by year-end.
Pearce confirmed exclusively to Mortgage Solutions its new broker website platform is due to launch in Q4.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
