HSBC UK has reduced mortgage rates across its product range, with cuts of up to 34 basis points (bps) taking effect from today (17 April).
The changes span purchase, remortgage and buy-to-let products, and are aimed at first-time buyers, home movers and existing borrowers looking to refinance.
PURCHASE RATES
Within its purchase range, HSBC has reduced its two-year fixed rate at 60% loan-to-value (LTV) with a £999 fee to 4.80%, down by 29bps. The equivalent fee-free product has been cut to 5.02%, a reduction of 26bps.
At higher LTVs, the five-year fixed rate at 90% LTV with no fee has been lowered to 5.28%, down by 31bps, and includes £350 cashback.
Premier customers also see reductions, with the two-year fixed rate at 60% LTV with a £999 fee now at 4.77%, following a 29bps cut.
FIRST-TIME BUYER PRODUCTS
Rates for first-time buyers have also been reduced. The two-year fixed rate at 60% LTV with a £999 fee now stands at 4.93%, down by 24bps, and includes £750 cashback.
The two-year fixed rate at 90% LTV with no fee has been cut to 5.49%, a reduction of 25bps, with £500 cashback available.
Meanwhile, the five-year fixed rate at 85% LTV with no fee has been reduced to 5.21%, down by 28bps, also offering £500 cashback.
Premier first-time buyer products have also seen pricing adjustments, with the two-year fixed rate at 60% LTV with a £999 fee now at 4.90%, following a 24bps reduction, alongside £750 cashback.
REMORTGAGE RATES
For remortgage customers, the two-year fixed rate at 60% LTV with a £999 fee has been cut to 4.90%, down by 28bps. The fee-free equivalent at 75% LTV is now 5.30%, following a 29bps reduction.
Five-year fixed rates have also been lowered, with the 60% LTV fee-free product now at 4.96% and the 75% LTV equivalent at 5.03%, both reduced by 33bps.
BUY-TO-LET REMORTGAGE
In the buy-to-let remortgage range, HSBC has reduced five-year fixed rates at both 60% and 75% LTV. The 60% LTV product now stands at 5.00%, while the 75% LTV equivalent is priced at 5.22%, with both seeing reductions of 34bps.
