From 15th November, HSBC is adjusting its residential and buy-to-let mortgage products. These changes include reduced rates for various fixed-rate mortgages across different loan-to-value (LTV) bands.
For existing residential customers looking to switch or borrow more, there will be decreases in 2-year fixed fee saver rates at 80%, 85%, and 90% LTV. The 2-year and 5-year fixed standard rates are set to decrease across the 60% to 90% LTV range, alongside reductions in the 3-year fixed standard and 5-year fixed fee saver rates. The 5-year fixed premier exclusive rates will also be lowered for LTVs between 60% and 90%.
First-time buyers and home movers will see a drop in the 2-year and 3-year fixed fee saver rates for LTVs ranging from 60% to 95%, as well as a decrease in the 2-year, 3-year, and 5-year fixed standard rates for 60% to 90% LTVs. Additionally, the 5-year fixed fee saver and premier exclusive rates will be reduced for LTVs between 60% and 90%.
For residential remortgages, the 2-year, 3-year, and 5-year fixed fee saver and standard rates will be lowered for LTVs from 60% to 90%. The 5-year fixed premier exclusive rates will also see a decrease for the same LTV range.
The residential remortgage cashback category will have decreased rates for the 2-year and 5-year fixed fee saver and standard mortgages at LTVs of 60% to 90%.
In the international residential sector, there will be rate reductions for 2-year, 3-year, and 5-year fixed fee saver and standard mortgages at 60%, 70%, and 75% LTV. For buy-to-let, the 2-year fixed standard rates will drop at 60% and 75% LTV, with the 5-year fixed standard at 75% LTV also decreasing.
