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HSBC to reduce resi rates
HSBC will be cutting rates across its residential mortgages from tomorrow, with changes to existing customer, first-time buyer products, remortgage and international resident products.
If brokers want to secure existing products then applications need to be submitted by midnight tonight.
In its existing residential customer switching and borrowing more range, existing residential customer switching and borrowing more five-year fixed rate fee-saver at 75 per cent loan to value (LTV) and five-year fixed standard between 65 and 75 per cent LTV will decrease.
Within the residential first-time buyer and homemover two-year fixed fee-saver deals up to 90 per cent LTV and standard deals up to 85 per cent LTV will fall.
Three-year fixed fee-saver and standard products at 60 per cent LTV will decrease and five-year fixed fee-saver, standard and premier exclusive products up to 90 per cent LTV will be cut.
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Residential remortgaging
On the residential remortgage side, two-year fixed fee-saver products up to 75 per cent and standard deals up to 85 per cent LTV will decrease.
Three-year fixed fee-saver products up to 75 per cent LTV and standard deals at 60 per cent LTV will go down.
Five-year fixed rate fee-saver products up to 80 per cent LTV will fall and standard and premier exclusive products at 85 per cent LTV will decrease.
Within its residential remortgage cashback range, two-year fixed rate fee-saver products up to 75 per cent LTV will be cut and standard deals up to 85 per cent LTV will fall.
Three-year fixed fee-saver products up to 75 per cent LTV will decrease and standard products at 60 per cent LTV will go down.
Five-year fixed rate fee-saver up to 80 per cent LTV will go down and standard and premier exclusive products up to 85 per cent LTV will fall.
In its international residential purchase range, two-year fixed rate fee-saver, standard and three-year fixed rate fee-saver products up to 75 per cent LTV will decrease. Similar changes have been made to five-year fixed rate fee-saver, standard and premier exclusive products.
Three-year fixed standard at 60 per cent LTV will also decrease.