HSBC has reduced mortgage rates by up to 0.1 percentage points across all its residential products.
The lender is now offering a 60 per cent loan to value five-year fixed rate mortgage at 1.44 per cent, down 0.05 percentage points but with a £999 fee.
Its 90 per cent LTV fixed rate has been cut by the same amount to 1.64 per cent for its two-year product and by 0.1 percentage points to 2.29 per cent for its five-year equivalent, both of which come with £999 fee.
On the remortgages side, the lender is offering a 75 per cent LTV five-year fixed rate at 1.59 per cent, down 0.05 percentage points with a £999 fee, or 1.74 per cent without fee.
This comes despite the Bank of England raising the base rate to 0.25 per cent this month.
Michelle Andrews, HSBC UK’s head of buying a home, said: “This year has been an exciting one for mortgages. It is a very competitive but fluid market, with lenders taking into account many factors when setting their rates or making changes.”
She said HSBC had remained accessible to brokers throughout the pandemic and had also enhanced its large loans teams as well as launching buy to let in its broker channel.
It had added 364 broker firms since the beginning of the year, now totalling 645 firms.
Andrews said: “We have also seen Zoom mortgage appointments continuing to be an extremely popular option for those looking for a mortgage, especially as there has been restricted access to face-to-face mortgage appointments in, with 35,000 mortgage appointments being carried out over Zoom this year.
“Going into 2022 we already know there will be continued challenges, but we look forward to continuing to support our customers and our broker partners with some exciting features to come.”
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