Changes will apply to its residential and BTL mortgage rates for existing and new borrowers.

HSBC’s select two-, three- and five-year fixed rates from 60% to 95% loan to value (LTV) will be lowered for existing residential borrowers switching rates, as well as those borrowing more.

Prices start from 4.79% for a two-year fixed rate, 4.69% for a five-year fixed rate and 4.23% for a five-year fixed rate.

Reductions will also be made to the lender’s residential first-time buyer and homemover deals from 60% to 95% LTV, on two-, three- and five-year fixed rate terms.

Rates begin from 4.79% for a two-year fixed rate deal, 4.69% for a three-year fixed rate and 4.28% for a five-year fixed rate in both ranges.

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Equivalent rates for borrowers with energy-efficient homes will also be lowered.

Additionally, HSBC will cut pricing across standard residential remortgages, deals with cashback and options for energy-efficient properties.

Remortgage rates are priced from 4.74% for a two-year fixed rate with a £999 fee, 4.6% for its three-year fixed rate equivalent and 4.35% for a five-year fixed rate.

Across its BTL offering, the bank will lower rates for existing customers switching, purchase and remortgage deals on two- and five-year fixed rate terms.

Reductions will be made to select two-, three- and five-year fixed rates between 60% and 75% LTV, with pricing beginning from 4.44%.

HSBC last lowered rates at the start of this month.

Gen H reduces residential rates

Gen H will lower rates across its core and homebuying bundles between 0.1% and 0.3%, the third week in a row that it has cut its rates.

Rates up to and including 80% LTV have been reduced by 0.15%, while two- and three-year fixed rates at 85% and 90% LTV have been cut by 0.1%.

Five-year fixed rates at 85% and 90% LTV have fallen by 0.15% and two- and three-year fixed rates at 95% have decreased by 0.2%.

Five-year fixed rates at 95% LTV have gone down by 0.3%.

Pete Dockar, Gen H’s chief commercial officer, said: “The mood across the mortgage market has been positive for the last few weeks as many lenders reduce rates – I’m delighted that we’ve kept pace with the speed of these reductions.

“Talk of the cost-of-living crisis may have faded into the background, but the cost of borrowing is still very high and many aspiring homeowners are struggling to make the numbers fit. Any reduction is a move in the right direction if you ask me, and hopefully these cuts – especially at 95% LTV – will be the key that gets more people into homes.”