HSBC will make reductions across the majority of its loans, including rates for home purchases, remortgage and for existing customers coming to the end of a deal who want to stay with the lender. 

The lender already offers two sub-4% loans for premier customers. 

Its cuts, which come to market on Monday, cover residential and buy-to-let home loans as well as mortgages for international customers. 

HSBC UK director of mortgages Oli O’Donoghue says: “There are a number of factors taken into account when setting mortgage rates and following a review we are pleased to announce that rates across our residential, BTL and international mortgage ranges for new and existing customers are coming down from Monday.” 

Meanwhile, Virgin reduces a range of residential and BTL rates by as much as 16bps from today. 

Virgin’s highlights include:

Remortgage 

• 80% loan to value to 90% LTV two-year fixes will be reduced by up to 15bps, starting from 4.63% 

BTL 

• Fix and Switch fixes will be reduced by 10bps, starting from 4.80 

Product transfer 

• Two-year fixes will be reduced by up to 16bps starting from 4.04%