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HSBC increases existing customer rates

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  • 08/05/2024
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HSBC increases existing customer rates
HSBC is increasing customer rates from today and will introduce a buy-to-let (BTL) product with a £3,999 fee for two- and five-year fixed rates for purchase and remortgage.

Within HSBC’s residential existing customer switching range, two- and five-year fixed rate fee-saver, five-year fixed standard and five-year fixed rate premier exclusive products up to 90% loan to value (LTV) have gone up.

Two-year fixed standard, three-year fixed fee-saver and standard have risen, and 10-year fixed rates – both fee-free and standard options – up to 80% LTV have gone up.

Two-year fixed rate pricing starts from 4.78%, with three-year fixed rate pricing beginning from 4.54%, five-year fixed rates priced from 4.36% and 10-year fixed rates standing at 4.88% at 60% LTV.

The same changes have been made to HSBC’s residential existing customer borrowing more range, with pricing also starting from the same point.

In its BTL existing customer switching range, two- and five-year fixed rate standard and fee-saver products up to 75% LTV have gone up.

Two-year fixed rates are now priced from 4.69% at 60% LTV and five-year fixed rates begin from 4.42% at 60% LTV.

The new BTL product will be across all LTVs and offer customers “more choice”, HSBC said.

Its two-year fixed purchase rate at 60% LTV is 4.59%, while its five-year fixed purchase rate at the same LTV comes to 4.29%.

On the remortgage side, its two-year fixed rate at 60% LTV is 4.58% and its five-year fixed rate is 4.23%.

It is the latest high-street lender to increase rates, with Natwest and Virgin Money having increased rates.

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