HSBC launches new sub-4% mortgage rates

HSBC UK has reduced rates across its residential and buy-to-let mortgage ranges.

Rates have reduced on almost all mortgages in the bank's ranges, with rates down by up to 0.24% for home purchases and existing customers.

The largest rate cut is a two-year fee saver product at 85% LTV, down by 0.24% to 4.67%.

Rates have also reduced by up to 0.10% on residential remortgages and 0.17% across HSBC's buy-to-let range.

As part of the changes, HSBC has launched a new sub-4% five-year fixed rate at 60% LTV with a £999 fee for Premier customers. It has also introduced an even lower 3.98% rate for existing Premier customers looking to renew their mortgage with HSBC following the end of a fixed rate deal.

HSBC has followed other lenders, including Santander, who is reducing rates across its mortgage products and reintroducing sub-4% rates to its home mover offering.