You are here: Home - News -

HSBC cuts rates to two-year low in mortgage refresh

by:
  • 13/02/2020
  • 0
HSBC cuts rates to two-year low in mortgage refresh
HSBC UK has reduced fixed rates across 37 of its mortgage products by as much as 0.15 per cent.

 

Its three-year fixed mortgage at 60 per cent loan to value (LTV) has been reduced by 0.10 per cent to 1.34 per cent, which according to Moneyfacts is the lowest rate in the sector compared to equivalent offerings. 

This product has a £999 fee. 

The fee-free two-year fixed product at 90 per cent LTV has been cut by 0.10 per cent to 1.99 per cent, while the £999 fee paying equivalent has seen a 0.05 per cent cut to 1.74. These are the lowest the rates for the products have been since 2018. 

Other reductions include the fee-free three-year fixed at 90 per cent LTV, cut by 0.15 per cent to 2.14 per cent and its fee-free five-year fixed at 90 per cent LTV, down by 0.10 per cent to 2.24 per cent. 

Its five-year fixed product at 60 per cent LTV with no fee has seen a 0.05 per cent reduction to 1.69 per cent. 

Michelle Andrews, HSBC UK’s head of buying a home, said: “We are continually looking at ways to provide great value and service to our customers.  

“Whether that is chipping away at our ‘time to offer’ a mortgage by making our processes slicker – reducing it significantly over the last two years to 10 days on average across all of our channels today, increasing the reach of our mortgages by making them available through more brokers, or making borrowing cheaper when we can, we are proud to be supporting the housing market.” 

There are 0 Comment(s)

You may also be interested in

Read previous post:
two people shaking hands
Avamore completes largest deal

Development lender Avamore has completed its largest transaction, in a deal worth around £13m.

Close