HSBC has reduced the rates for new and existing residential borrowers by up to 0.15 per cent on more than 100 products. For example, the two-year fixed rate with no fee for switchers at 60 per cent loan to value (LTV) is dropping by 0.15 per cent to 4.84 per cent.
The lender is also cutting the rates on its tracker deals by up to 0.1 per cent, meaning that deals start at 3.79 per cent for existing borrowers and 3.84 per cent for new borrowers.
The changes take effect from today.
As well as the rate cuts, HSBC has introduced cashback to its two-year fixed fee deals for residential first-time buyers and homemovers at 80, 85 and 90 per cent loan to value.
Rate cuts at Bluestone
Bluestone Mortgages has confirmed that it is cutting the rates charged on all of its fixed rate products, covering both residential and buy-to-let mortgages, by up to 50 basis points.
The rate cuts cover two, three and five-year fixed rate deals, and include the lender’s fee-free products. As a result, rates now start at 7.10 per cent, with lending available up to 85 per cent loan to value (LTV).
Reece Beddell, sales and marketing director at Bluestone Mortgages, said: “As the cost of living continues to put further strain on household and personal finances, we remain committed to providing brokers and their customers with the options and support they need to navigate these challenging times.
“Today’s rate reduction is testament to this, and we hope that it will provide a helping hand to those looking to achieve their homeownership goals in the current climate.”
