HSBC has cut mortgage rates across all LTVs and fixed rate terms by up to 0.30%, launching its lowest ever fixed rate mortgage rate at 0.94%.
The 60% LTV two-year fixed rate has been reduced by 5bps to 0.94% with a £999 fee, with a fee-free equivalent available at 1.14%.
At 85% LTV, two-year fixed rates have been cut by 0.30% to 1.99% with a £999 fee or 2.29% fee-free.
A 90% LTV two-year fixed rate has also been lowered by 30bps to 2.49% with a £999 fee – the lowest rate since the reintroduction of this LTV in January.
Elsewhere, a 95% LTV Mortgage Guarantee Scheme two-year fixed rate has been cut by 0.20% to 3.39% with a £999 fee or 3.59% with no fee.
A 90% LTV five-year fixed rate has been reduced by 0.25% to 2.99% and a five-year fix at 75% LTV has reduced by 0.20% to 1.29%, both with a £999 fee.
Michelle Andrews, HSBC UK’s Heads of Buying a Home, said: “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.
“This change includes our lowest ever mortgage rate of 0.94%, plus other rates that are hitting new lows, making it much cheaper for home buyers as well as those looking to remortgage, regardless of the size of their deposit or the equity they hold.”
Original Article from Financial Reporter 06/07/21