HSBC has announced that it is cutting rates across all its mortgage ranges for new and existing customers.

The bank said the reductions come into effect from Wednesday (8 November).

An HSBC UK spokesperson said: “We are here to support our customers and we remain committed to offering the best possible rates to all our customers. That is why we are pleased to announce cuts to mortgage rates across all our UK residential and international mortgage ranges, and across our Buy to Let range, for new and existing customers.”

The UK’s sixth largest bank has also cut rates on its residential mortgage range by 0.2% on average (between 0.05% and 0.35%).

It is also bringing back its no fee 3 Year Fixed at 95% LTV for UK Residential Home Mover and First-Time Buyer customers, both of which come with a cashback incentive of £350.

“This gives our customers who are looking to move onto or up the property ladder or are renewing a mortgage with us an additional option,” the bank said.

In July, HSBC became the first big lender in the UK to announce it is cutting rates on fixed-term mortgages. Other big banks followed HSBC lead in cutting prices on fixed-rate deals to win business.

Below are details of the HSBC reductions:

Residential Purchase / Home mover:

2 year 60% LTV at 5.14% (£999 fee) reduced by 0.10%

5 year 60% LTV at 4.69% (£999 fee) reduced by 0.05%

Residential FTB:

Reintroduce 3 year 95% LTV at 6.39% with £350 cashback

5 year 60% LTV at 4.69% (£999) reduced by 0.05%

Residential Remortgage:

2 year 75% LTV at 5.39% (£999) reduced by 0.25%

BTL home mover:

2 year 65% LTV at 5.39% (£1999) reduced by 0.10%

2 year 65% LTV at 5.84% (no fee) reduced by 0.05%

BTL Remortgage:

2 year 75% LTV at 5.94% (no fee) reduced by 0.20%