HSBC cuts residential and buy-to-let rates by up to 0.25%

HSBC has announced further mortgage rate reductions across its residential and buy-to-let ranges, with decreases of up to 0.16% on two and five-year residential mortgages for both home movers and first time-buyers; and reductions of up to 0.25% on buy-to-let products.

The cheapest rate on offer for residential in the standard range is now a five-year fix at 60% LTV, priced at 3.83% for customers looking to remortgage with a £999 fee. 

For existing customers, switcher rates now start at 3.74% fixed for five years at 60% LTV with a £999 fee.

70% and 75% LTV five-year products with a £999 fee are also priced below 4% at 3.99%.

HSBC has also made further reductions in its higher LTV ranges for first-time-buyers, with five-year fixes reducing to 4.16% at 80% LTV and 4.54% at 90% LTV, both with £350 cashback.

For residential purchasers or home movers, a five-year fix at 85% LTV has decreased to 4.16% with £350 cashback.

HSBC is also introducing a new high value mortgage range from £2 million with a £1,999 booking fee across its home mover, first-time buyer and remortgage ranges at 60%, 70% and 75% LTV.

In addition, buy-to-let remortgage rates have been reduced, with highlights including five-year fixes from 3.99% at 65% LTV and 4.19% at 75% LTV, both with a £1,999 fee.

A HSBC UK spokesperson said: “We’re happy to be able to offer further rate reductions across all our ranges. We’re committed to providing some of the best mortgage options available and help empower customers with the financial tools needed to achieve their home ownership goals. 

"That’s why from today, we’re pleased to be introducing our new high value mortgage range, catering to customers with higher lending needs. Our aim is to support every customer in finding the right mortgage solution, ensuring they benefit from competitive rates and a personalised service, no matter the size of their loan.”