HSBC announces widespread mortgage rate cuts of up to 0.34%

HSBC UK is reducing rates across its mortgage range, with cuts of up to 0.34% spanning first-time buyer, home-mover and remortgage products.

In its purchase range, two-year fixed rates at 60% LTV have reduced by up to 0.29%, now starting from 4.80% with a £999 fee and 5.02% fee-free.

Five-year fixed rates are down by up to 0.31%, with highlights including a 60% LTV Premier product at 4.77% with a £999 fee and a 90% LTV fee-free rate at 5.28%.

In HSBC's first-time buyer range, two-year fixed rates have reduced by 24-25bps, including 60% LTV products down to 4.93% with a £999 fee and £750 cashback, with the Premier product down to 4.90% with a £999 fee and £750 cashback. A90% LTV two-year fixed rate is also down to 5.49% with no fee and £500 cashback. Five-year fixed rate reductions include an 85% LTV rate, down by 0.28% to 5.21% with no fee and £500 cashback.

For remortgage, two-year fixed rate reductions include a 60% LTV rate at 4.90% with a £999 fee and a 75% LTV rate down to 5.30% with no fee. Five-year fixed rate remortgage products have reduced by 0.33%, down to 4.96% at 60% LTV and 5.03% at 75% LTV, both with no fee.

In addition, five-year fixed rate buy-to-let remortgage rates have reduced by 0.34%, now starting from 5.00% at 60% LTV and 5.22% at 75% LTV with no fee.