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HSBC and TSB cut rates – round-up

  • 08/11/2023
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HSBC and TSB cut rates – round-up
HSBC has reduced rates by as much as 0.35 per cent.

This includes its two-year fixed purchase and home mover product for residential borrowers at 60 per cent loan to value (LTV) which has gone down by 0.1 per cent to 5.14 per cent. The corresponding five-year fix has been cut by 0.05 per cent to 4.69 per cent. 

Both products have a £999 fee. 

There is also the residential remortgage deal which is fixed for two years and available at 75 per cent LTV, which has been reduced by 0.25 per cent to 5.39 per cent. This has a £999 fee. 

For first-time buyers, the five-year fix at 60 per cent LTV with a £999 fee has been reduced by 0.05 per cent to 4.69 per cent. 

HSBC has reintroduced its fee-free three-year fix at 95 per cent LTV for first-time buyers. This has a rate of 6.39 per cent and offers £350 cashback. 

An HSBC UK spokesperson said: “We are here to support our customers and we remain committed to offering the best possible rates to all our customers. That is why we are pleased to announce cuts to mortgage rates across all our UK residential and international mortgage ranges, and across our buy-to-let range, for new and existing customers.  

“We are also bringing back our no fee three-year fixed at 95 per cent LTV for UK residential Home Mover and first-time buyer customers, both of which come with a cashback incentive of £350. This gives our customers who are looking to move onto or up the property ladder or are renewing a mortgage with us an additional option.” 


TSB reduces rates 

TSB has reduced rates by up to 0.3 per cent across its two and five-year fixed buy-to-let mortgages.  

This includes purchase and remortgage, product switch and additional borrowing deals. 

Rates start at 5.39 per cent for a two-year fixed purchase product at 60 per cent LTV with a £1,995 fee, or 5.09 per cent for the five-year fixed alternative. 

The lender has also added a two-year fixed product to its residential purchase range at 85-90 per cent LTV. 

This has a £995 fee and is priced at 5.64 per cent. 

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