HSBC UK has announced a series of mortgage rate reductions across a wide selection of its products, with changes taking effect from tomorrow, Wednesday 16th April.
The cuts apply to both new and existing customers, covering a range of fixed-term options and loan-to-value (LTV) ratios.
For existing residential customers looking to switch their mortgage, HSBC is lowering rates on 2-year and 5-year fixed Fee Saver and Standard products.
These reductions apply across multiple LTV tiers, including 60%, 70%, 75%, 80%, 85%, 90%, and in some cases, 95%.
Premier Exclusive products, which are tailored for Premier banking customers, will also see rate decreases in both 2-year and 5-year fixed options.
Customers who are looking to borrow more on their existing residential mortgage will also benefit from reduced rates.
HSBC is cutting rates across similar product lines as those available for switchers, including the Premier Exclusive range.
The bank’s first-time buyer and home mover range will also be impacted, with HSBC reducing rates on both Fee Saver and Standard products over 2- and 5-year terms, as well as its High Value Mortgage offerings.
In an effort to encourage energy-efficient housing, HSBC is also lowering rates for first-time buyers and home movers purchasing properties with an A or B Energy Performance Certificate (EPC) rating.
These changes affect both Fee Saver and Standard products, mirroring the reductions seen in the wider residential mortgage portfolio.
Customers looking to remortgage will also see reductions in fixed-term products.
Both 2- and 5-year fixed Fee Saver and Standard mortgages are included, as are High Value Mortgage offerings.
These adjustments are available across multiple LTV levels, including 60%, 70%, 75%, 80%, 85%, and 90%.
In its buy-to-let (BTL) rnage, HSBC has lowered rates for property purchases at 60%, 65%, and 75% LTVs.
This includes standard and Fee Saver products, as well as those with higher upfront fees such as the £3,999 options.
Premier Exclusive BTL products will also see rate cuts across the same tiers.
Existing BTL customers looking to switch or borrow more will also benefit from these adjustments.
BTL remortgage rates are similarly reduced across the board, including 2- and 5-year products, and apply to both standard and Premier Exclusive customers.
HSBC’s international offerings are also part of the rate update. Rate reductions have been introduced on 2- and 5-year Fixed Fee Saver, Standard, and Premier Exclusive products for both residential and BTL customers.
These apply at 60%, 65%, 70%, and 75% LTV levels.
The bank has reminded brokers that Premier mortgage rates are available only to customers who hold an HSBC Premier current account.
If a customer does not have a Premier account at the time of application, standard products must be selected. Once the Premier account is open, intermediaries may submit an Application Amendment Form or use HSBC’s ‘Chat with us’ service to secure the preferential rate.
In addition, to lock in the existing product codes before the changes take effect, intermediaries have been advised to submit applications in full by midnighttoday, Tuesday 15th April 2025.
HSBC’s product finder tools and sourcing systems will reflect the changes from tomorrow, Wednesday 16th April.
