HSBC UK has reduced mortgage rates by up to 0.25% across all residential LTVs, in addition to buy-to-let mortgages between 60% LTV and 75% LTV.
Five-year fixed rate remortgage products at 75% LTV have been reduced by 5bps and now start from 1.59% with a £999 fee or 1.74% fee-free.
At 90% LTV, a two-year fixed rate has reduced by 5bps to 1.64% and a five-year fix by 10bps to 2.29%, both with a £999 fee.
Michelle Andrews, HSBC UK’s head of buying a home, said: “This year has been an exciting one for mortgages. It is a very competitive but fluid market, with lenders taking into account many factors when setting their rates or making changes.
“We have remained accessible and open for business throughout the pandemic period in 2020 and 2021, including working closely to listen and understand our brokers needs from us, enhancing our ‘large loans’ teams as well as launching buy-to-let in our broker channel. We have seen more sophisticated digital solutions embedded into the mortgage application process, including significant enhancements to our Live Chat service for brokers and an improved ‘Digital DIP’ process in our Direct channel, where a Decision In Principle can be obtained in as little as 10 minutes. We have also seen Zoom mortgage appointments continuing to be an extremely popular option for those looking for a mortgage, especially as there has been restricted access to face-to-face mortgage appointments, with 35,000 mortgage appointments being carried out over Zoom this year.
“We have also provided access to our mortgages to more brokers, more than doubling the number of firms by adding 364 new broker firms since the beginning of the year – the equivalent of one new firm every day. We are now up to 645 and will continue giving more broker firms and more brokers access to our mortgages into 2022.
“Going into 2022 we already know there will be continued challenges, but we look forward to continuing to support our customers and our broker partners with some exciting features to come.”
