Changes apply to its first-time buyer, home mover, remortgage, buy-to-let purchase and remortgage and international borrower products. Two, three and five-year fixes up to 90 per cent loan to value (LTV) have been lowered in pricing.
This includes a five-year fixed remortgage deal at 60 per cent LTV with a £999 fee, which is now 4.43 per cent down from 4.78 per cent. The two-year equivalent has been reduced from 5.54 per cent to 5.09 per cent.
For home movers, the five-year fix at 85 per cent LTV with no fee has gone down from 5.42 per cent to 4.69 per cent. A two-year fix at 60 per cent LTV with a £999 fee has been reduced by 50 basis points to 4.79 per cent.
For borrowers switching rate, a five-year fix at 90 per cent LTV with no fee has been cut by 0.41 per cent to 4.84 per cent.
The bank has also increased the rates of its two-year fee-free tracker mortgages up to 90 per cent LTV following the rise in the Bank of England’s base rate last Thursday.
A spokesperson for HSBC said: “Today we reduced almost all of our residential and buy-to-let fixed rate mortgages as we look to support all types of borrowers.
“This includes cuts ranging from 0.35 per cent to 0.55 per cent across our residential new business range and cuts of up to 0.41 per cent for existing customers who wish to stay with us when their current deal expires, offering good value in the current climate.”
