The rates have been reduced across the range of LTVs including 0.61% off 2 year fixed fee-saver mortgage at 90% LTV - cut from 2.99% to 2.38%.
These cuts come as the Bank of England reports strong mortgage lending - the highest number of mortgages approved for 19 months. Mortgage lending rose by £3.4 billion in August compared with £2.8 billion in July, the highest figure since May 2008.
HSBC’s revised mortgage range includes:
- 60% LTV 2yr fixed - 1.19% plus £1499 booking fee (new product)
- 90% LTV 5yr fixed - 2.88% plus £1499 booking fee (new product)
- 90% LTV 2yr fixed - 2.38% (down 0.61% from 2.99%)%) plus £999 booking fee
- 80% LTV 3 yr fixed 2.44% (down 0.35% from 2.79%) feesaver
- 60% LTV 5yr fixed - 2.19% (down 0.2% from 2.39%) plus £999 booking fee
- 60% LTV 2yr fixed - 1.49% (down 0.15% from 1.64%) plus £999 booking fee
Tracie Pearce, HSBC’s Head of Mortgages in the UK, said:
“Autumn is typically ‘remortgage season’ amongst homeowners; we have now made it even more compelling to remortgage to HSBC. We are continuing to see confidence in the housing market and the Bank of England statistics support that view. With mortgage rates continuing to be extremely low, now is a good time for borrowers to review their existing mortgage arrangements, particularly if they are on a standard variable rate.
"We recently made our mortgages available to more people by expanding our broker partnerships to include London & Country. We are committed to continuing to offer our customers competitive rates to help them achieve their property hopes and dreams.”