HSBC has cut rates across a number of its fixed rate mortgages.

These include purchase and remortgage products, and changes include:

Its 60 per cent LTV two-year fix with £999 fee being cut from 1.24 per cent to 1.19 per cent, with the free-saver version being cut from 1.54 per cent to 1.49 per cent.

The 60 per cent LTV five-year fix fee saver, meanwhile, has seen a reduction in its rate from 1.64 per cent to 1.59 per cent, and the 80 per cent LTV five-year fix fee saver product being has been chopped from 1.99 per cent to 1.89 per cent.

On these changes, HSBC UK head of buying a home Michelle Andrews says: “While the purchase of properties has understandably slowed, time marches on for those who are on a fixed rate deal.

“Many homeowners will have taken out their mortgage or remortgaged in the Springtime and their deal is now up for renewal, or they risk moving onto a higher standard variable rate mortgage.

“With these rate changes, now could be a great time to take a look at your current mortgage, and if it is up for renewal take a close look at what the additional cost moving onto a standard variable rate could do for your finances.”