Two Big Six lenders announce New Year mortgage rate cuts

Halifax and HSBC have become the latest lenders to announce reductions to mortgage rates.

Halifax has announced rate cuts of up to 0.35% across its 1.5-year and three-year fixed rate remortgage products.

In its 18-month range, 60% LTV rates now start from 4.22% at 60% LTV and 4.39% at 75% LTV. 80% LTV rates are down to 4.77% and 85% LTV rates to 4.90%, while a 90% LTV product has reduced to 5.28%. All products come with a £1,499 fee.

For three-year fixed rate remortgages, a fee-free 60% LTV product has reduced to 4.41% and a £999 fee alternative has dropped to 4.18%.

80% LTV three-year fixes now start from 4.73% with a £999 fee and 4.96% fee-free, with 85% LTV options reducing to 4.83% and 5.06% and 90% LTV rates to 5.21% and 5.44%.

HSBC has also announced that it will be reducing rates across its range from Monday 6th January.

Rate reductions will cover residential and buy-to-let products between 60% and 95% LTV across two, three, five and 10-year terms, with specific rates to be confirmed next week.

The latest cuts follow Leeds Building Society's announcement yesterday that it has reduced rates across its mortgage range by up to 0.21%.