HSBC to reduce residential and BTL mortgage rates

Effective tomorrow (Wednesday 22nd November) HSBC is making several changes to its residential and buy-to-let (BTL) mortgage product ranges.

Existing residential customers considering a switch can benefit from reductions across the lender’s 2-year and 3-year fixed fee saver, 2-year and 3-year fixed standard, 5-year fixed fee saver, 5-year fixed standard, and 5-year fixed premier exclusive mortgages across various loan-to-value (LTV) ratios.

Similar adjustments apply for existing residential customers planning to borrow more.

Residential first-time buyers and home movers will also benefit from reductions across HSBC’s 2-year fixed fee saver, 2-year fixed standard, 3- and 5-year fixed fee saver, 3- and 5-year fixed standard, and 5-year fixed premier exclusive mortgage ranges.

Further reductions were also introduced across the lender’s residential remortgage, residential remortgage cashback and international residential offering.

HSBC’s existing buy-to-let (BTL) customers contemplating a switch or borrowing more can access reductions across its 2-year and 5-year fixed fee saver and its 2-year and 5-year fixed standard mortgages at selected LTV ratios.

Nicholas Mendes, mortgage technical manager at John Charcol, said: “HSBC are repricing again across their buy-to-let and residential products, making it the second reprice in as many weeks.

“Despite sitting close to the top of the ‘best buys’ for purchases and remortgages, HSBC are not giving up hitting top spot. Will the [elusive] 4.5% barrier be breached? Let’s wait and see.”