The firm added that its standard variable rate (SVR) currently stands at 6.74% and remains under review, and any changes would be communicated to customers.
A HSBC spokesperson said: “A number of factors are taken into account when setting savings and mortgage rates. While our savings and mortgage rates (aside from trackers) are not directly linked to the Bank of England base rate, they are kept under review.”
TSB cuts variable rates
TSB said it would reduce its homeowner and buy-to-let (BTL) variable rates following the base rate cut.
Its homeowner variable rate stands at 7.49% and its BTL variable rate is priced at 8.34%.
Grasping the next buy to let opportunities
Sponsored by Aldermore
The lenders are the latest to change selected rates following the base rate change last week, with Nationwide, Santander, Virgin Money and Clydesdale Bank lowering selected variable rates post-base rate change.
