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Halifax, HSBC and Coventry BS latest lenders to lower rates – round-up

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  • 04/10/2023
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Halifax, HSBC and Coventry BS latest lenders to lower rates – round-up
HSBC, Halifax and Coventry Building Society are the latest lenders to confirm that they will reduce rates in the coming days, with precise details of the cuts to be confirmed closer to the time.

Brokers have expressed frustration that rate changes are announced but actual detail not confirmed until the following day.

Halifax will lower rates across all fixed rate homebuyer products by up to 0.14 per cent from Friday 6 October.

The reductions apply to first-time buyer, new build, large loans and affordable housing deals. This includes shared equity and shared ownership and the equivalent green home products.

To secure existing products, brokers should submit applications in full by 8pm on Thursday 5 October.

 

HSBC slashes rates

HSBC will lower rates across its residential and buy-to-let products from tomorrow, including first-time buyer, remortgage, buy-to-let purchase and remortgage deals.

The changes will come into force tomorrow.

Within its existing residential customer switching and borrowing more range, its  two-year fixed fee-saver at 70 and 75 per cent loan to value (LTV) will be cut, along with standard deals at 85 per cent LTV. Five-year fixed rate fee-saver deals between 60 and 90 per cent LTV will fall, along with standard and premier exclusive products.

In its residential first-time buyer and home mover range, two and three-year fixed fee-free products up to 90 per cent LTV will decrease, along with two, three and five-year fixed standard deals up to the same LTV tier. Five-year fixed rate fee-saver deals up to 95 per cent LTV and premier exclusive up to 90 per cent LTV will also fall.

Also in its first-time buyer range, the lender’s residential remortgage two-year fixed fee-saver rates up to 80 per cent LTV will go down, along with two and five-year fixed standard deals up to 75 per cent LTV. Three and 10-year fixed-fee saver products at 60 per cent LTV and five-year fixed fee-saver up to 85 per cent LTV will also fall along with three-year fixed rate standard up to 90 per cent LTV, 10-year fixed rate standard deals at 60 per cent LTV and five-year premier exclusive up to 70 per cent LTV will decrease.

In its residential remortgage cashback, two-year fixed rate fee-saver up to 80 per cent LTV, two and five-year fixed standard rates up to 75 per cent LTV and five-year fixed rate fee-saver up to 85 per cent LTV will go down.

In the lender’s international residential range, two and five-year fixed fee-saver rates up to 75 per cent LTV and two, three and five-year fixed standard rates up to 75 per cent LTV will also fall. Three and 10-year fixed standard rate deals at 60 per cent LTV and five-year premier exclusive products up to 75 per cent LTV are going down.

On the buy-to-let side, existing buy-to-let customer switching and borrowing more five-year fixed standard rates up to 65 per cent LTV are going to go down. Within its buy-to-let purchase, two and five-year fixed ate fee-saver deals up to 75 per cent LTV will fall, along with five-year fixed rate standard products up to 65 per cent LTV.

Also on the buy-to-let remortgage side, five-year fixed rate fee-savers up to 65 per cent LTV, and standard products at 65 per cent LTV, will decrease.

 

Coventry BS to lower rates

From Friday, Coventry Building Society will lower rates across its residential and buy-to-let rates.

Within its residential range, new borrower standard fixed rates excluding 75 per cent LTV will reduce.

In its existing borrowers range, all standard two-year fixed rates barring 75 and 90 to 95 per cent LTV will fall.

Standard three-year fixed rates except products at 75 per cent LTV will decrease, and five-year fixed rates barring 75 and 95 per cent LTV will go down.

All offset rates at 65 per cent LTV will also fall.

Within its buy-to-let and portfolio buy-to-let ranges, all new borrower fixed rates will fall and in its existing borrower range all two-year fixed rates barring 50 per cent LTV and all five-year fixed rates at 75 per cent LTV will decrease.

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