HSBC has cut over 300 residential home loan rates for new and existing customers by up to 16 basis points.

The high street bank’s reductions cover home movers, first-time buyers and remortgagers and international customers.

The lender’s lowest rate is a two-year 60% loan-to-value fixed-rate purchase deal at 3.82% down 7bps for Premier customers, or 3.85%, for non-Premier customers.

It adds that existing customers looking to switch can do so from two-year 60% LTV fixes at 3.82% for premier, and 3.85% for non-premier customers, with a £999 product fee.

Remortgage rates start from 3.86% for two-year fixes at 60% LTV, with a £999 product fee, available for premier qualifying customers.

Yesterday, Santander UK announced rate reductions of up to 0.16% across its 60–75% LTV remortgage range, while NatWest said it would trim rates on home loans by 13 basis points.