HSBC, which also lowered rates at the start of the year, rings the changes to its residential rates from today.
Within its UK residential existing customer switching range, two, three and five-year fixed fee-saver products at 60, 90 and 95 per cent LTV have fallen.
Fee-saver deals now start from 4.54 per cent at 60 per cent LTV for a two and three-year fixed rate and go down to 4.04 per cent for a five-year fixed rate.
Standard two, three and five-year fixed rates at 60, 80, 85 and 90 per cent LTV have been reduced, beginning from 4.29 per cent at 60 per cent LTV for two and three-year fixed rates and 3.79 per cent for a five-year fixed rate.
Five-year fixed premier exclusive deals up to 90 per cent LTV have decreased and start from 3.76 per cent.
On the existing customer borrowing more side, two and three-year fixed rate fee-saver deals at 60 and 90 per cent LTV have fallen, while five fixed fee-saver deals at 60, 80, ,85 and 90 per cent LTV have gone down.
Standard two, three and five-year fixed rates at 60, 80, 85 and 90 per cent LTV have decreased along with five-year fixed premier exclusive rates.
Pricing is in line with its existing customer switching range.
HSBC first-time buyer range
In its residential first-time buyer range, two and three-year fixed fee-saver deals at 90 and 95 per cent LTV have fallen, coming to 5.19 per cent at 90 per cent LTV.
Two and three-year fixed standard rate products at 80, 85 and 90 per cent LTV have fallen and are priced from 5.14 per cent.
Five-year fixed fee-saver, standard and premier exclusive rates have been cut up to 90 per cent LTV with rates starting from 4.39 per cent, 4.24 per cent and 4.21 per cent respectively.
On the residential home mover side, two and three-year fixed rate fee-saver products at 90 and 95 per cent LTV have deceased, whilst five-year fixed-fee-saver delas up to 95 per cent LTV have fallen.
Two and three-year fixed standard rates at 80, 85 and 90 per cent LTV have been reduced, and five-year fixed standard deals up to 90 per cent LTV have fallen.
Within its international residential range, five-year fixed fee-saver, standard and premier exclusive products up to 75 per cent LTV have gone down. Pricing starts from 4.79 per cent, 4.64 per cent and 4.61 per cent respectively.
HSBC to increase cashback
The lender will also increase the cashback it offers to first-time buyers at 95 per cent loan to value (LTV) for two, three and five-year fixed rates to £750, £750 and £1,000 until further notice. This is an increase from £250, £350 and £500 previously.
Metro Bank launches 95 per cent LTV residential deals and cuts rates
Metro Bank has reintroduced 95 per cent LTV purchase-only products in its residential range, with two-year fixed rate starting from 5.99 per cent and five-year fixed rates from 5.79 per cent.
It has also lowered residential rates, with two-year fixed rates beginning from 4.99 per cent at 80 per cent LTV and five-year fixed rates from 4.79 per cent.
On the buy-to-let side, two-year fixed rates start from 3.99 per cent at 65 per cent LTV with a five per cent fee and five-year fixed rates are priced from 4.59 per cent at 65 per cent LTV with the same fee.
The lender has also removed its 5.5 per cent minimum stress rate requirement on five-year fixed rate products and all pound-for-pound remortgages and will now stress at pay rate plus 0.5 per cent.
Charles Morley, director of mortgage distribution at Metro Bank, said: “Affordability is often the biggest barrier to taking that first or next step onto the property ladder. I hope that by introducing these changes today we can help bring homeownership dreams a little closer to reality.”
