The changes come into force from today.
Its residential SVR will rise to 4.54 per cent to 5.04 per cent. Its buy-to-let SVR will stay the same.
On the residential side, the lender has increased rates for two and five-year fixed rates between 60 and 95 per cent loan to value (LTV) in its existing customer switching, existing customer borrower more, first-time buyer, remortgage and home buyer ranges.
HSBC has upped the rates for five-year fixed rates between 60 and 75 per cent LTV in its buy-to-let existing customer switching, existing customer borrowing more, buy-to-let purchase and buy-to-let remortgage.
Two and five-year fixed rates in its international residential range between 60 and 75 per cent LTV have also risen.
The lender added that it had removed two-year fixed standard products from its UK buy-to-let purchase and remortgage range until further notice.
Newcastle BS boosts SVR
Newcastle Building Society will up its Standard Variable Rate (SVR) by 0.95 per cent to 4.91 per cent due to a “change in market conditions and lending costs”.
The change comes into effect from 1 October and will apply to affected properties in England, Scotland, Wales and Northern Ireland.
It applies to residential, self-build and buy-to-let customers whose products were linked to the lender’s SVR.
The lender said that since late 2020 it had maintained its mortgage SVR and said after the increase the new rate “will remain one of the most competitive in the UK”.
Customers impacted by the change will be contacted by a letter notifying them of the new rate and monthly payment.
It added that fixed rate products would move to the new SVR when the product term expands.
