HSBC has cut its residential mortgage range by up to 40 basis points and by 22bps on average. 

Highlights of the high street bank’s reductions include: 

Residential purchase/Home mover 

• Five-year 95% loan to value fixes, with no fee, at 4.99% down by 20bps, with £350 cashback 
• Two-year 80% LTV fixes, with a £999 fee, at 4.78% down by 6bps, with £250 cashback 

First-time buyer residential 

• Five-year 95% LTV fixes, with no fee, at 4.99% down by 20bps, with £1,000 cashback 
• Two-year 80% LTV fixes, with a £999 fee at 4.78% down by 6bps, with £250 cashback 

Existing customer switching — residential 

• Five-year 60% LTV fixes, with a £999 fee at 3.79% down by 10bps 
• Two- and three-year 60% LTV fixes, with a £999, at 4.29% down by 10bps 

The lender says that it offers cashbacks of between £250 and £1,000 on its FTB and home mover ranges. It adds that this includes £750 and £1,000 cashback offers on many FTB offers, and up to £350 on its home mover ranges.   

An HSBC UK spokesperson says: “We’re here to support our customers and we remain committed to offering the best possible rates.  

“That’s why we’re pleased to announce cuts to mortgage rates across our UK residential range for FTBs and home movers, as well as some reductions on our switcher range.”