HSBC has cut the rates of all two- and five-year fixed-rate loans for first-time buyers and home purchases, as well as selected three-year fixed-rate deals, by up to 25 basis points.  

The high street bank says highlights include:  

• For home movers – Three-year fixed rate deals at 60% loan to value to 75% LTV, with no fee, reduced by 20bps to 4.39% and 4.44%, respectively. Equivalent deals that carry a £999 fee are reduced by 9bps to 4.19% and 4.24%, respectively  
• For existing customers — Three-year fixed-rate offers at 80% LTV, with a £999 fee, down by 25bps to 4.19%  
• For remortgagers – Five-year fixed-rate loans at 60% LTV, down 9bps to 3.84%, with the Feesaver equivalent, down 4bps to 3.99%  

The lender adds that £300 cashback is available for those looking to remortgage to the bank on a two- or five-year fixed-rate deal from 60% to 90% loan to value, through a broker or direct.  

It points out that remortgage customers will either receive free legals, or, have the flexibility to choose their own conveyancers and receive the cashback amount.   

HSBC UK interim head of buying a home Andrew Matson says: “We know that some customers prefer to select their own solicitor to carry out the legal work for their mortgage and value having that choice.   

“We are extending the availability of our cashback offer to include those who are remortgaging. From today those who are remortgaging will be able to choose a product with free legals included, or £300 cashback if they want to choose their own conveyancer.  

“Additional good news, is that we are continuing to bring down the cost of borrowing by up to 25bps for those looking to get onto or move up the property ladder, which will be welcome at this time when there is an increased cost of living.”  

The bank adds that brokers who want to learn more about its remortgage proposition can do so as it provides several accredited continuing professional development classes.