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HSBC alters cashback and cuts high LTV rates on select deals

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  • 22/03/2023
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HSBC alters cashback and cuts high LTV rates on select deals
HSBC will lower or remove cashback on select first-time buyer and home mover deals and lowered rates for existing customers, first-time buyers, home mover, remortgage and international resident ranges.

The changes come into force from tomorrow.

The lender said that it would reduce the cashback incentive to £350 and £500 for its three and five-year fixed rate fee-saver offerings in its first-time buyer range at a selection of loan to value (LTV) tiers.

It added that it had removed the cashback incentive for its two and three-year fixed rate fee-saver offerings in its first-time buyer and home mover ranges at a selection of LTVs until further notice.

In its UK residential existing customer switching range, two, three and five-year fixed fee-saver and standard rates between 80 and 90 per cent LTV have fallen.

Five-year fixed rate premier exclusive deals up to 90 per cent LTV have also been reduced.

Two-year fixed rate standard deals at 80 per cent LTV start at 4.59 per cent, and three-year fixed rates begin at 4.54 per cent, with five-year fixed rates starting from 4.24 per cent.

 

Existing customers borrowing more

Residential existing customers borrowing more deals between 80 and 90 per cent LTV have fallen, including fee-saver, standard and premier exclusive offers.

Two-year fixed rates at 80 per cent LTV start at 4.59 per cent for standard deals, 4.24 per cent for five-year fixed rate standard deals.

Three-year fixed rate standard products at 90 per cent LTV are priced at 4.79 per cent.

First-time buyer deals on two, three and five-year fixed rates up to 95 per cent LTV in some instances have been cut.

Two-year fixed standard deals at 80 per cent LTV start from 4.54 per cent, and five-year fixed rates begin at 4.24 per cent for the same LTV tier.

Two-year fixed standard deals at 60, 70 and 75 per cent LTV have increased and are priced from 4.49 per cent.

The three-year fixed fee-saver at 60 per cent LTV has increased to 4.34 per cent and standard deals at 60, 70 and 75 per cent LTV on the same term have risen and are priced from 4.34 per cent.

 

Residential home mover deals

On the residential home mover side, two-year fixed fee-saver ad standard deals between 80 and 90 per cent LTV have risen, while beneath the 75 per cent LTV, two-year fixed standard deals have been increased.

Three-year fixed rate fee-saver deals at 80 and 85 per cent LTV have increased and at 60 per cent LTV they have been cut.

Three-year fixed rate standard deals between 80 and 80 per cent LTV have fallen and under 75 per cent LTV they have increased.

Five-year fixed fee-saver, standard and premier exclusive products up to 90 per cent LTV have decreased.

 

Residential remortgage and international resident

In its residential remortgage range, its two-year fixed fee-saver and standard deals between 80 and 90 per cent LTV have fallen.

Fee-saver deals and standard deals on the same term beneath 75 per cent LTV have increased.

Three-year fixed fee-saver deals between 60 and 85 per cent LTV have increased, along with standard deals on the same term between 60 and 75 per cent LTV.

Five-year fixed fee-saver products between 80 and 90 per cent LTV have fallen, along with standard products.

Fee-saver deals on five-year fixed terms at 60 per cent LTV have increased and premier exclusive deals between 80 and 90 per cent LTV have fallen.

In its international residential range two-year fixed standard deals between 60 and 75 per cent LTV have risen, along with three-year fixed standard deals.

Three-year fixed fee-saver deals at 60 per cent LTV have also increased.

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