HSBC cuts rates across mortgage range

Essex Home Finance
HSBC UK is cutting rates across all LTVs in its mortgage range, up to 0.30%.
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HSBC UK is cutting rates across all LTVs in its mortgage range, up to 0.30%.

The lender has made the move as it recorded its busiest month ever for mortgage completions in March and has onboarded more than 100 broker firms in the past eight weeks, to a total of 400 broker partner firms.

Highlights of the rate cuts include the two-year fixed product at 95% LTV being reduced by 0.25% to 3.74%, with the Feesaver equivalent down by 0.30% to 3.99% under the Mortgage Guarantee Scheme.

The 90% LTV two-year fix with a £999 fee will now be priced at 2.99%, down 0.10%, while the 80% LTV fixed rate products are down by 0.10% for all 2 year and 5 year fixed rates.

Further reductions include the 75% LTV five-year fixed rate (£999 fee) down to 1.54% and the  60% LTV five-year fixed rate (£999 fee) reduced to 1.24%, with the Feesaver equivalent down to 1.54%.

HSBC UK head of buying a home Michelle Andrews says: “The government’s stamp duty relief scheme gave a welcome boost to the mortgage and property markets and the resilience of homebuyers has really shone through. It has been fabulous to see all parties come together again to make great things happen.

“We completed more mortgages in March than any month in the 40+ years we have offered home loans, including those for over 3,000 first time buyers, have increased the number of brokers who have access to our award-winning mortgage by a third, adding over 100 broker firms to our panel and introduced 95% LTV mortgages. It has been an incredibly busy time for us, but while we have seen all of this with lockdown measures still in place, and I am extremely proud of my teams who are delivering customer focused service on a daily basis.”

Original Article from Mortgage Strategy 06/05/2021

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