HSBC has announced a series of rate reductions on products by up to 0.15 per cent.

Notable cuts include the 95 per cent LTV five-year fix reduced from 3.34 per cent to 3.19 per cent, and the 90 per cent LTV five-year fix from 2.44 per cent to 2.34 per cent.

Both the above two products do not include any fees.

Additionally, the 90 per cent LTV three-year fix has been cut from 2.34 per cent to 2.19 per cent, and the 85 per cent LTV two-year fix from 1.64 per cent to 1.54 per cent. Both these two deals include a £999 fee.

The 75 per cent LTV five-year has also been reduced, from 1.89 per cent tot 1.84 per cent. This offering does not include any fees.

HSBC UK head of buying a home Michelle Andrews says: “We are delighted to have reduced the interest rates on 34 of our mortgages today.

“These reduced rates along with our ‘feeling of home’ January campaign aim to give our new and existing customers the perfect start to the new year.

“We hope our products and service standards make getting onto or moving up the property ladder more affordable, as well as giving stability and value to those looking to remortgage or come off a variable rate.”