In an update sent to brokers, HSBC said the changes would come into force from 25 March.
The firm said it would introduce premier-only two- and five-year fixed fee-paying and fee-saver buy-to-let (BTL) products at 60%, 65%, 75% and 80% loan to value (LTV) in its purchase, remortgage and existing customer ranges.
The specific rates were not confirmed, but the products are only available for existing HSBC premier current account holders.
HSBC added that it would be lowering cashback in its first-time buyer, homemover and remortgage residential energy-efficient home ranges. The new cashback rate was not specified, but cashback can range from £250 to £1,600 depending on fee structure and LTV tier.
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Newcastle BS cuts SVR
Newcastle Building Society will lower its standard variable rate (SVR) by 0.19% to 6.75% from 1 April.
The change impacts residential, self-build and BTL customers with products linked to the lender’s SVR on properties in England, Scotland, Wales and Northern Ireland.
The mutual said the change was due to a “change in market conditions and lending costs”.
Michael Conville, chief customer officer at Newcastle Building Society, said: “We’re pleased to reduce mortgage repayments for our standard variable rate borrowers by cutting our residential SVR.
“As a customer-owned organisation, maintaining a competitive SVR is an important way we create value for our members and deliver on our commitments to our intermediary partners and their clients.”
TSB ups select rates
TSB will increase select residential, product transfer and additional borrowing rates by up to 0.15%.
The changes came into effect from 21 March.
The lender’s two-year fixed remortgage rates from 60% to 75% LTV with no fee will go up by 0.05%.
Within its product transfer range, its residential two-year fixed rate up to 60% LTV will rise by 0.15%, while its residential two-year no-fee fixed rate from 60% to 75% LTV will go up by 0.05%.
Its residential three-year fixed rates up to 60% LTV and five-year fixed rates up to 75% LTV will rise by 0.05%.
Within its additional borrowing range, residential two- and five-year fixed rates up to 75% LTV will rise by around 0.15%, while residential three-year fixed rates up to 60% LTV will increase by 0.05%.
The firm lowered rates earlier this month.
