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HSBC cuts mortgage rates for switching customers by up to 0.4 per cent

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  • 05/10/2022
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HSBC cuts mortgage rates for switching customers by up to 0.4 per cent
HSBC is bucking the trend of rising mortgage costs by cutting a swathe of product switching reductions by up to 0.4 per cent.

The lender said it is cutting two, three and five-year fixed fee savers for existing customers switching from 60 per cent loan to value (LTV) up to 95 per cent, as well as customers borrowing more from 60 per cent to 90 per cent LTV.

Rates are also falling on two, three and five-year standard deals for existing customers between 60 and 95 per cent LTV, as well those borrowing more up to 90 per cent LTV.

The five-year fixed premier exclusive between 60 and 90 per cent LTV will also see a drop in rates for existing customers switching and borrowing more.

Examples include its two-year fixed rate at 60 per cent LTV with £999 fee which has fallen by 0.4 per cent to 5.09 per cent, as well its two-year fixed rate feesaver product which is down 0.3 per cent to 5.79 per cent.

The lender’s five-year fixed rate at 60 and 80 per cent LTV have decreased by 0.15 per cent to 4.79 per cent and 4.89 per cent respectively.

HSBC yesterday removed its two-year trackers for buy to let purchase, remortgage and existing customers.

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