HSBC UK is reducing mortgage rates across a broad selection of its residential, buy-to-let and international products from Thursday 15 October.
The changes affect two-year and five-year fixed rates for first-time buyers, home movers and remortgage customers, including products available at up to 95% loan-to-value (LTV).
For residential purchases, reductions will apply to Fee Saver products at 60%, 70%, 75%, 80%, 85%, 90% and 95% LTV. Standard and Premier Exclusive fixed rates will also fall at up to 90% LTV, while High Value Mortgage products will see reductions at up to 85% LTV.
HSBC is also cutting rates on its Energy Efficient Home range for first-time buyers and home movers purchasing properties with an EPC rating of A or B. The changes cover two-year and five-year Fee Saver products at up to 95% LTV and Standard products at up to 90% LTV.
REMORTGAGE AND BUY-TO-LET CHANGES
Residential remortgage borrowers will benefit from reductions across HSBC’s Fee Saver, Standard, High Value Mortgage and Premier Exclusive ranges.
Two-year Fee Saver remortgage rates will fall at up to 90% LTV, with five-year Fee Saver reductions extending to 85% LTV. Standard and Premier Exclusive products will see cuts at up to 90% LTV, while High Value Mortgage reductions will apply at up to 85% LTV.
The lender is making equivalent changes to selected cashback remortgage products and its energy-efficient remortgage ranges, including cashback options for properties rated EPC A or B.
In the buy-to-let market, HSBC is reducing rates across selected two-year and five-year remortgage products, including Fee Saver, Standard and Premier Exclusive options.
The changes include two-year Fee Saver and Standard products at 60%, 65%, 75% and 80% LTV, alongside selected five-year products. Reductions will also apply to Standard remortgage products carrying a £3,999 fee.
HSBC’s buy-to-let Energy Efficient Home remortgage range will also see cuts across selected two-year and five-year fixed rates at up to 80% LTV.
INTERNATIONAL MORTGAGE RATES
The repricing extends to HSBC’s international mortgage range, with reductions to two-year and five-year residential purchase and remortgage products at 60%, 70% and 75% LTV.
International buy-to-let purchase and remortgage rates will also fall across selected Fee Saver and Standard products at 60%, 65% and 75% LTV.
HSBC confirmed that no other interest rates are changing as part of the announcement.
The lender has not specified the size of the individual rate reductions or the revised interest rates in its intermediary notification.
HSBC Premier mortgage rates remain restricted to existing Premier current account holders. Customers without an eligible account at application submission must initially select a Standard product, although a preferential rate can be arranged once the Premier account has been opened.
HSBC’s product finder and mortgage sourcing systems are scheduled to reflect the new rates from Thursday 15 October.
