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HSBC to cut rates on 60 per cent LTV deals

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  • 11/08/2020
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HSBC to cut rates on 60 per cent LTV deals
HSBC is to lower rates on selected deals at 60 per cent loan to value (LTV).

 

From Thursday, the bank will cut rates on six products which include a mix of fixed and term tracker rates, with and without fees. The cuts are applicable to two and five-year deals.

To accompany the rate cuts, the bank is extending its two and five-year fixed rate end dates to 31/12/2022 and 31/12/2025 respectively.

Full applications must be completed by Wednesday 12 August to secure a product from the bank’s current range.

All supporting documents must be provided within 21 days of submission.

Earlier this month, HSBC reported £9bn of  mortgage lending in the first half of 2020 matching the same period last year despite being hampered by the coronavirus pandemic.

The lender also saw mortgage applications return to pre-lockdown levels by the end of June following a sharp dip after the introduction of lockdown and social distancing measures.

For the first time since opening to the broker market in 2016 more than half of HSBC’s mortgage lending was conducted through advisers.

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