HSBC has reduced rates across its residential and buy-to-let (BTL) mortgage products effective from tomorrow, Tuesday 23rd July.
For existing residential customers looking to switch, rates for its 2- and 5-year Fixed Fee Saver at loan-to-value (LTV) ratios of 60%, 70%, 75%, 80%, 85%, 90%, and 95% will decrease.
Additionally, the bank’s 2-year fixed standard at 60%, 70%, and 75% LTV, the 3-year Fixed Fee Saver and Standard at 60%, 70%, 75%, 80%, and 85% LTV, and the 5-year Fixed Standard and Premier Exclusive at 60% and 80% LTV will see reductions.
HSBC’s 2 and 5-year Fixed Fee Saver at 60%, 70%, 75%, 80%, 85%, and 90% LTV, 2-year Fixed Standard at 60%, 70%, and 75% LTV, 3-year Fixed Fee Saver and Standard at 60%, 70%, 75%, 80%, and 85% LTV, and 5-year Fixed Standard and Premier Exclusive at 60% and 80% LTV will all see decreased rates.
First-time buyers and home movers will benefit from reductions in the 2-year Fixed Fee Saver at 60%, 80%, 85%, 90%, and 95% LTV, the 2-year Fixed Standard at 60%, 70%, and 75% LTV, the 3 -year Fixed Fee Saver and Standard at 60%, 70%, 75%, 80%, and 85% LTV, and the 5-year Fixed Fee Saver, Standard, and Premier Exclusive at various LTVs.
For energy-efficient homes rated A or B, the 2-year Fixed Fee Saver and Standard, the 3-year Fixed Fee Saver and Standard, and the 5-year Fixed Fee Saver and Standard at similar LTV ratios will also see rate decreases.
Residential remortgage customers will experience lower rates for the 2- and 5-year Fixed Fee Saver and Standard at 60%, 70%, 75%, 80%, 85%, and 90% LTV.
The 3-year Fixed Fee Saver at 60%, 70%, 75%, 80%, and 85% LTV and the 5-year Fixed Premier Exclusive at the same LTV ratios will also have reduced rates.
Remortgage products with cashback and energy-efficient home options will see rate decreases in the 2- and 5-year Fixed Fee Saver and Standard at 60%, 70%, 75%, 80%, 85%, and 90% LTV, along with the 3-year Fixed Fee Saver at the same LTV ratios.
For BTL customers, existing customer switching and borrowing more products will have lower rates for the 2-year Fixed Fee Saver and Standard at 60%, 65%, and 75% LTV, and the 5-year Fixed Fee Saver and Standard at 65% and 75% LTV.
BTL purchase products will see similar reductions.
Finally, international residential products will also see rate decreases.
The 2-, 3-, and 5-year Fixed Fee Saver and Standard at 60%, 70%, and 75% LTV, and the 5-year Fixed Premier Exclusive at the same LTV ratios will all have reduced rates.
A HSBC spokesperson said: “We’re committed to supporting our customers onto or up the property ladder, which is why we aim where possible to keep our rates competitive.
“There are a number of factors that are taken into account when setting mortgage rates, and following a review, we are reducing several hundred rates across all of our residential and buy-to-let ranges including first-time buyers, home movers, and people looking to re-mortgage.”
