"These reductions of up to 0.30% will provide cheaper rates for those with a lower deposit, which could mean they make a real saving whether moving onto or up the property ladder"
At 95% LTV, two-year fixed rates have reduced by 30bps to 2.69% with a £999 fee and by 20bps to 2.89% with no fee.
90% LTV rates have seen cuts of up to 15bps, with two-year fixed rates now starting at 1.84% with a £999 fee and 2.09% fee-free, while five-year fixes are available at 2.49% and 2.74% respectively.
At 85% LTV, rates have been cut by 10bps with two-year rates at 1.49% with a fee or 1.79% fee-free, and five-year fixes at 1.99% with a fee and 2.24% fee-free.
An 89% LTV two-year fix has also reduced by 10bps to 1.74% with no fee.
Additionally, two-year remortgage products have reduced by up to 10bps, starting at 1.84% up to 80% LTV and 1.89% up to 85% LTV with no fee, with a 90% LTV product reduced to 2.09% with a £999 fee.
Existing customers will also benefit from these changes with switcher rates reduced by up to 0.30% and 0.10% on two and five-year fixed rate deals respectively.
Michelle Andrews, HSBC UK’s Head of Buying a Home, said: “These reductions of up to 0.30% will provide cheaper rates for those with a lower deposit, which could mean they make a real saving whether moving onto or up the property ladder or if they have a fixed rate deal coming to an end.”
