HSBC has cut rates for those with smaller deposits across its 85% and 90% loan-to-value ranges by up to 0.20% today.

The bank’s ten mortgage rate cuts include:

An 85% LTV five-year fixed-rate feesaver rate down by 0.20% to 2.79%, with its £999 fee equivalent reduced by 0.15% to 2.59%.

An 85% LTV two-year fixed rate, with a £999 fee, cut by 0.15% to 2.34%, with the feesaver equivalent also down by 0.15% to 2.64%.

And a 90% LTV two-year fixed rate, with a £999 fee, down by 0.10% to 2.89%, with the feesaver equivalent cut by 0.15% to 3.09%.

HSBC’s head of buying a home Michelle Andrews says: “These mortgage cuts across 85% and 90% LTVs will make it cheaper for those with a smaller deposit to get onto or up the property ladder.”

Last month, the high-street lender confirmed the details of its 95% mortgage products, which form part of the government’s mortgage guarantee scheme.

That range includes two- and five-year fixed mortgage deals for single or joint applicants. The same rates apply whether the products are taken out directly through the lender or through a broker and the mortgages are open to self-employed applicants.

The two-year fix is available at a rate of 3.99% with a £999 fee or with no fee and a rate of 4.29%. The five-year product comes at a rate of 4.29% with a £999 fee or 4.49% without a fee.