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HSBC and Tipton & Coseley BS cut rates

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  • 21/05/2020
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HSBC and Tipton & Coseley BS cut rates
HSBC has sliced rates on select mortgages, while Tipton & Coseley Building Society has cut costs on its later life fixed rate ranges.

 

Rates on HSBC’s two-, three- and five-year fixed fee deals between 60 and 75 per cent loan to value (LTV) have been cut.

The lender has also trimmed rates on two- and three-year savers at 60 per cent LTV.

At the same time two-year standard trackers between 60 and 80 per cent LTV have been cut.

Overall, the bank is reducing rates on 18 mortgage products by 0.05 per cent, with rates as low as 1.14 per cent for a two-year fixed rate deal at 60 per cent LTV, and 1.39 per cent for a five-year fix.

 

Tipton & Coseley cuts equity release rates

Tipton & Coseley Building Society has reduced rates on all its three- and five-year later life fixed deals.

Rates have been trimmed by by 0.30 per cent and includes Tipton’s retirement interest only (RIO) products.

The society said the move underpins its commitment to the later life market.

It comes after the lender introduced a downsizing option upon the death of either borrower in its later life mortgages, applicable to retired applicants.

Richard Groom, head of mortgage sales at the Tipton said: “This latest rate cut combined with our recently announced downsizing criteria change for later life mortgages clearly demonstrates our commitment to this market.

“What’s more we will continue to listen to brokers and their customers to ensure we stay at the forefront in later life lending.”

 

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