HSBC UK is reducing a broad range of residential and buy-to-let mortgage rates, with changes taking effect from 8 May.
The lender confirmed it will implement rate reductions across multiple product lines, including first-time buyer, home mover, remortgage and buy-to-let deals.
The changes cover both fixed rate and tracker products, with pricing adjustments applied across a wide range of loan to value tiers, from 60% up to 90%.
Within its residential offering, HSBC is reducing rates on five-year fixed products across fee saver, standard, high value and premier exclusive ranges, as well as two-year tracker options. The revisions apply to first-time buyers and home movers, alongside products designed for energy efficient homes with EPC ratings of A or B.
The lender is also making reductions across its residential remortgage range, including two-year and five-year fixed products, high value mortgages and tracker deals. Selected cashback products are also included within the repricing.
In the buy-to-let sector, rate cuts have been applied to both purchase and remortgage products, including energy efficient options. The changes extend to existing customer borrowing more and switching deals, as well as international residential and buy-to-let offerings, although brokers are advised to disregard international products if they do not hold the relevant permissions.
HSBC said applications must be fully submitted by midnight on Thursday 7 May in order to secure existing product codes. Supporting documentation must then be provided within 30 calendar days of submission.
The lender added that its product finder tool and sourcing systems will be updated from Friday 8 May to reflect the new pricing.
HSBC noted there are no further changes to other interest rates at this time. It also confirmed that premier mortgage rates remain available only to existing HSBC Premier current account holders, with standard range products required where eligibility criteria are not met at submission.
