HSBC UK has announced a suite of residential mortgage rate reductions effective from Monday 19th May, lowering fixed rates across a wide range of products for both existing and new borrowers.
The lender has made reductions on 2-year, 3-year and 5-year fixed rates across its Fee Saver, Standard, Premier Exclusive and High Value ranges.
The changes affect all major loan-to-value (LTV) bands from 60% to 95%, underlining HSBC’s strategy to target affordability improvements for both new customers and existing borrowers switching or borrowing more.
For first-time buyers and home movers, HSBC has reduced 2-year fixed Fee Saver and Standard rates across all core LTVs, with similar reductions applied to its high value mortgage range at 60% to 75% LTV.
Cuts also apply to 5-year fixed products, with the Standard range seeing rate drops at 70%, 75%, 80% and 85% LTV, and high value products reduced at 70% and 75% LTV.
Premier Exclusive products for residential borrowers have also seen rate cuts. The 2-year and 5-year fixed Premier Exclusive ranges were reduced at most LTV bands, including 60%, 70%, 75%, 80%, and 85%.
The bank has extended the same reductions to energy-efficient home loans (rated EPC A or B), offering further incentives for homebuyers and movers prioritising greener properties.
Existing HSBC mortgage customers will also benefit from the changes. Rates have been lowered on switcher products and further advance loans, again across 2-year and 5-year terms and at multiple LTVs, providing improved options for those looking to refinance or release additional borrowing.
