High street lender implements rate changes to residential, BTL, and international products
HSBC has made new adjustments to mortgage rates across multiple product ranges, with the revised rates taking effect today.
“Following a comprehensive review, we are revising our mortgage rates across the residential, buy-to-let, and international categories,” the bank announced. “Most rates will see reductions, although some will experience increases.”
For residential mortgages, the lender has reduced rates on more than 120 products for both home purchases and remortgages. All two-year fixed rates for home movers and first-time buyers are included in the reductions, with cuts ranging from two to 22 basis points.
Some rates for existing customers have increased by between five and 15 basis points, while switching rates at 95% loan-to-value on two- and five-year fixes have decreased by up to eight basis points.
Within the buy-to-let segment, approximately half of all rates have been revised, with most changes affecting five-year fixed products. These rates have increased by between three and 15 basis points.
For international mortgages, certain rates have been reduced by up to four basis points.
A complete list of today’s mortgage rate changes from HSBC is available here.
Earlier this month, HSBC raised its loan-to-income multiple for first-time buyers to 5.5 times.
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