"Two big considerations are interest rate and how much you can borrow, and these changes will make a big difference."
HSBC has increased the lending limits on its 85% LTV and 90% LTV capital repayment mortgages, with the maximum borrowing at 85% LTV increasing by 50% to £750,000, and from £400,000 to £550,000 on 90% LTV borrowing.
Highlights of the reduced rates include a five-year fix at 80% LTV which has reduced by 0.10% to 2.74% with a £999 fee and to 3.04% with no fee.
Two-year fixed rates have seen reductions of 0.10% to 1.39% at 75% LTV with a £999 fee and by 0.05% to 2.79% at 85% LTV with no fee.
A 90% LTV two-year fixed rate is down by 0.05% to 3.09% with a £999 fee, with the fee saver equivalent reduced by 0.05% to 3.29%.
Michelle Andrews, HSBC UK’s Head of Buying A Home, said: “There are lots of different elements to consider when looking for a mortgage to get onto or up the property ladder. Two big considerations are interest rate and how much you can borrow, and these changes will make a big difference.
“Alongside other changes we have recently made, including accepting variable pay as part of a mortgage application, we are excited about continuing to support homeowners and the wider property market.”
