HSBC has cut rates by up to 0.15 per cent on selected 60 and 75 per cent loan to value (LTV) products to reduce the cost of borrowing for buyers with a larger deposit.
The lender has cut the rates on 15 lower LTV products, and the rate changes follow from reductions to its higher LTV products of up to 0.2 per cent last month.
Highlights of the latest changes include a reduction on its two-year fixed 60 per cent LTV product, which has been cut by 0.1 per cent to 1.04 per cent. This product is subject to a £999 fee.
The lender’s equivalent two-year fixed 60 per cent LTV feesaver product has also been reduced by 0.1 per cent to 1.29 per cent.
HSBC’s two-year fixed at 75 per cent LTV with a £999 fee has been cut by 0.05 per cent to 1.29 per cent, whilst its equivalent feesaver product has been slashed by 0.15 per cent to 1.59 per cent.
The lender’s five-year fixed at 60 per cent LTV with a £999 fee has been reduced by 0.05 per cent to 1.19 per cent, whilst its feesaver five-year fixed at 60 per cent LTV is down by 0.05 per cent to 1.49 per cent.
HSBC UK’s head of buying a home Michelle Andrews (pictured) said: “Whether customers have a larger or smaller deposit, recent cuts to mortgage rates across all LTVs will be welcome.
“Plus, with the Stamp Duty Land Tax tapering down at the end of the month, these cuts will make getting onto or moving up the property ladder more affordable, possibly being the difference in a home buyer being able to afford the property of their dreams,” she added.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.