HSBC reintroduces sub-5% mortgage rates in latest cuts

HSBC has reduced mortgage rates by up to 0.19%, reintroducing sub-5% mortgage rates.

In its home mover range, the bank is now offering a two-year fixed rate at 4.96% up to 60% LTV, down from 5.04%, with its Premier product reducing to 4.93%.

The Bank is also offering a sub-5% five-year fixed rate, with its standard 60% LTV product reducing from 5.06% to 4.99% and the Premier rate down to 4.96%.

In HSBC's remortgage range, two-year products have also reduced by up to 0.14%, with the lowest two-year fix now 4.96% for Premier customers or 4.99% for the standard rate.

For existing customers switching products, the lowest rate available is 4.66%.

In addition, selected first-time buyer products have seen reductions of 0.19%, with the lowest rate at 5.17%.

Highlights of the first-time buyer range include a two-year fixed rate at 95% LTV, down by 19bps to 5.77% with no fee and £750 cashback (rising to £1,250 for energy efficient homes).