HSBC UK has reduced rates across parts of its mortgage range, with cuts of up to 0.31 basis points for first-time buyers, home movers, remortgage customers and buy-to-let borrowers.

The changes take effect from today and include reductions across residential purchase, remortgage and buy-to-let remortgage products.

Among the first-time buyer changes, HSBC has cut its two-year fixed rate at 75% LTV with a £999 fee to 4.69%, down by 0.30 basis points. The product comes with £750 standard cashback, rising to £1,500 for energy efficient homes.

The lender has also reduced its two-year fixed rate at 85% LTV with no fee to 5.02%, down by 0.31 basis points, with £500 standard cashback rising to £1,000 for energy efficient homes.

Its five-year fixed rate at 85% LTV with a £999 fee has been reduced to 4.77%, down by 0.27 basis points, with £750 standard cashback rising to £1,500 for energy efficient homes.

For Premier first-time buyers, HSBC has reduced its two-year fixed rate at 75% LTV with a £999 fee to 4.64%, down by 0.30 basis points, with £750 cashback.

In the wider purchase range, the lender has cut its two-year fixed rate at 60% LTV with a £999 fee to 4.45%, down by 0.20 basis points, while its no-fee equivalent has been reduced to 4.65%, down by 0.25 basis points.

HSBC has also reduced its five-year fixed rate at 85% LTV with a £999 fee to 4.73%, down by 0.21 basis points, and its five-year fixed rate at 60% LTV with no fee to 4.71%, down by 0.20 basis points.

For remortgage customers, the lender’s two-year fixed rate at 75% LTV with a £999 fee has been cut to 4.79%, down by 0.17 basis points. The Premier equivalent has been reduced to 4.76%.

Buy-to-let remortgage reductions include a two-year fixed rate at 60% LTV with a £1,999 fee at 4.69%, down by 0.10 basis points, and a five-year fixed rate at 60% LTV with no fee at 4.85%, down by 0.15 basis points.

Premier buy-to-let remortgage rates have also been reduced, with the two-year fixed rate at 60% LTV with a £1,999 fee cut to 4.64%, and the five-year fixed rate at 60% LTV with no fee reduced to 4.80%.

Oli O’Donoghue, head of mortgages at HSBC UK, said: “We’re pleased to announce further reductions to our mortgage rates to support first-time buyers, customers looking to move to their next home, and those remortgaging.

“These changes apply across much of our range and build on existing measures – for first-time buyers, this includes increasing borrowing power to up to 5.5 times income and offering cashback of up to £2,000 for eligible customers – supporting our ambition to help more people onto the property ladder.”