HSBC has made cuts of up to 30 basis points across its range, resulting in its lowest ever fixed rate mortgage coming onto the market.

Specifically, the 60% LTV two-year fix with £999 fee has been cut by 5 basis points to 0.94%, with the ‘Feesaver’ version being cut by 10 basis points to 1.14%.

Other cuts include the 85% LTV two-year fix with £999 fee being reduced by 30 basis points to 1.99%, with its Feesaver also having been reduced by 30 points to 2.29%.

And the 90% LTV two-year fix with £999 fee has had 30 basis points removed too, which gives a new rate of 2.49%.

Meanwhile, the Mortgage Guarantee Scheme 95% LTV product with £999 fee has received a cut of 20 basis points to bring it to 3.39%. Its Feesaver ilk now has a rate of 3.59%.

Cuts across the lender’s five-year products include the 75% LTV with £999 fee being reduced by 20 basis points to 1.29% and the 90% LTV with £999 fee being cut by 25 basis points to 2.99%.

HSBC UK head of buying a home Michelle Andrews says: “We have made significant rate cuts across our fixed term mortgages, continuing our support for all buyer types whether they are first-time buyers as they look to take their first step on the property ladder alongside those also looking at moving up the ladder with their next home, or those whose fixed rate deals are coming to an end and looking for a new deal.”