HSBC UK has reduced rates across its mortgage products, with rate reductions of up to 0.11 percentage points, effective today.
The lender announced yesterday it had scheduled wide-ranging rate cuts across both residential and buy-to-let (BTL) product ranges.
Highlights of the rate cuts include the first-time buyer two-year 60% loan-to-value (LTV) with no fee down by 0.07% to 4.78% with £250 cashback, increasing to £600 for energy efficient homes and the FTB two-year 85% LTV, which has been lowered by 0.09% to 4.93% with £350 cashback, increasing to £700 for energy efficient homes.
HSBC’s purchase rates have also been trimmed. The two-year at 90% LTV with no fee has been cut by 0.11% to 5.06% and comes with £250 cashback, increasing to £600 for energy efficient homes as well as the two-year Premier at 90% LTV with a fee of £999, which is 0.10% lower at 4.78%.
Remortgage rates have been reduced by up to 0.10% including the two-year 75% LTV no fee product, which has been trimmed to 4.89% and the two-year 75% LTV with a fee of £999 Premier product, down by 0.10% to 4.61%.
In addition BTL remortgage prices have been lowered. In this range, the two-year 65% LTV with a fee of £3,999 which is down 0.11% to 4.35%.
The two-year 60% LTV with a fee of £1,999 has been cut by 0.09% to 4.55% and comes with £350 cashback for energy efficient homes.
Elsewhere, Coventry for intermediaries has also lowered rates on residential, BTL and limited company BTL products.
The lender has reduced residential prices for new borrowers on all three-year fixed rates and all two- and five-year fixed rates (excluding 75% to 80% LTV FTB exclusives).
It has also cut all offset, interest-only and offset interest-only fixed purchase rates as well as all interest-only fixed remortgage rates (excluding offset interest only prices).
Existing borrowers will see rates reduced on all fixes, excluding five-year offset 65% LTV prices with no fee.
Coventry has also reduced all fixed BTL rates for new borrowers and all BTL and limited company BTL rates for existing borrowers.
Meanwhile, Accord Mortgages is reducing its rates on residential product transfer and additional loan products from tomorrow.
The current range will be withdrawn tonight and the new range will be available from tomorrow morning.
As part of the reprice, all fixed rates will be lowered by 0.10% but tracker rates will remain the same.
