HSBC cuts tracker and fixed mortgage rates

HSBC cuts tracker and fixed mortgage rates

 

 

The changes include lower rates on 23 mortgages including first-time buyer loans and higher LTV mortgages.

Mortgage rate highlights include a 60 per cent loan-to-value (LTV), two-year fixed rate cut by 0.10 per cent to 1.34 per cent and a 60 per cent LTV five-year fixed rate, cut by 0.10 per cent to 1.74 per cent.

The lender has also cut mortgage rates on its 70 per cent LTV five-year fixed rate down by 0.10 per cent to 1.79 per cent; and 90 per cent LTV two-year fixed rate cut by 0.05 per cent taking it to 2.14 per cent.

Aaron Shinwell, HSBC UK’s interim head of mortgages and savings, said: “The changes to HSBC UK’s mortgage rates come as its mortgages are made available to more brokers, with seven new firms added within the last week, taking the current total to 119 firms, covering in excess of 13,500 brokers up and down the country.

The new broker firms to have access to HSBC UK mortgages are AMAC, Medical & Professional, Riverpark, Peritus, Financial Makeover (trading as ‘Clever’), Pure Financial and IMS Independent.

 

Driving onwards for share

In June, the bank dropped its bank statement requirement for mortgage applications after confirming it lent £4bn of home loans in Q1 this year.

HSBC also launched product transfers with procuration fees of 0.2 per cent in March.