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HSBC reduces rates on selected 60 and 75 per cent LTV fixes

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  • 10/06/2021
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HSBC reduces rates on selected 60 and 75 per cent LTV fixes
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.

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