HSBC is set to make a number of changes to its residential and buy-to-let (BTL) mortgage product ranges, effective from tomorrow, Tuesday 9th April.
For existing residential customers considering switching or borrowing more, the lender will be introducing decreases for various fixed-term options across different loan-to-value (LTV) ratios.
Specifically, reductions will affect 2-year, 3-year and 5-year fixed fee saver products at 60%, 70%, and 75% LTV, as well as the 2-year fixed standard at 70% and 75% LTV.
Residential first-time buyer and home mover categories will also benefit from reductions, with rates across multiple 2-year, 3-year and 5-year fixed-term options seeing a decrease.
This also includes decreases in the lender’s 5-year fixed standard and Premier Exclusive products at 60% LTV.
Additionally, for residential first-time buyers and home movers interested in energy efficiency, rates across HSBC’s Energy Efficient Home products will also see decreases.
Residential remortgage customers are not exempt from the changes, with decreases in rates across different fixed-term options and LTV ratios.
For international residential mortgage products, decreases in rates have been implemented across 2-year, 3-year and 5-year fixed fee and fixed standard products.
Existing BTL customers, whether switching or borrowing more, will also benefit from decreases in rates, particularly for the 5-year fixed fee savers at 65% LTV.
Likewise, adjustments have been made to BTL purchase and remortgage rates.
Nicholas Mendes, head of marketing at John Charcol, said: “This is a positive start to the week. These changes from HSBC will improve on the recent minimal repricing we’ve seen of high street competitors in recent days.
“NatWest have done well to remain amongst the best buys for purchase and remortgaging products, but I expect we will see HSBC topple them.”
