Editor's Pick

HSBC cuts dozens of mortgage rates

Christina Hoghton
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Christina Hoghton

The lender has snipped the cost of 30 of its mortgage products by up to 0.40 percentage points

HSBC has sliced rates across its range of two and five-year mortgages by as much as 0.40 per cent.

The lender has reduced the cost of two-year standard fixes and two-year fee saver fixes, and the five-year equivalent ranges.

Rates on the two-year term tracker have also reduced at selected loan to values ratios (LTV).

It means the lender now offers a five-year fix of 1.64 per cent at 75 per cent loan-to-value, with a £999 fee, as well as a 90 per cent loan-to-value two-year fee-free fix of 3.59 per cent.

And a two-year tracker at 75 per cent of the property’s value is available at 1.69 per cent.

In total 30 mortgages have had rates reduced.

HSBC UK’s head of buying a home Michelle Andrews, said: “Despite the obvious challenges, the housing and mortgage markets are quite lively.

“This rate cut by us, with 11 mortgages reduced by 0.30 per cent or 0.40 per cent, including those at 90 per cent LTV, means getting onto or up the property ladder with HSBC UK, has become more affordable.”