HSBC UK reduces mortgage rates

HSBC UK is reducing over 140 mortgage rates by up to 0.18% to help customers get on or move up the property ladder. This decision follows a review of various factors influencing mortgage rates.

An HSBC UK spokesperson said: “We are firmly focused on helping customers onto or up the property ladder.

“There are a number of factors that are taken into account when setting mortgage rates, and following a review, we are reducing over 140 mortgage rates by up to 0.18%. We continue to keep our rates under review.”

New business residential rates will be cut by 0.04% to 0.18%, buy-to-let new business rates by 0.04% to 0.14%, and residential switchers by up to 0.11%.

For example, a 2-year 60% LTV residential mortgage with no fee is now 4.99%, reduced by 0.09%, while a 5-year 60% LTV mortgage with a £999 fee is now 4.40%, reduced by 0.08%.

For buy-to-let remortgages, a 2-year 60% LTV with a £1999 fee is now 4.69%, reduced by 0.14%.