High street lender HSBC has reduced mortgage rates across the board, with some pricing going below 4% in some cases.
In an update earlier today, HSBC said that within its residential existing customer switching and borrowing range select deals up to 95% loan to value (LTV) have decreased and pricing starts from 3.98%.
Select first-time buyer products and some of its energy efficient parallels have been reduced up to 95% LTV in some cases, with rates beginning from 4.19%.
HSBC added that residential home mover and its energy efficient equivalents have been cut, with some products up to 95% LTV changed. Rates start from 4.19%.
Residential remortgage deals up to 85% LTV have been reduced, including two- and five-year standard and fee-saver deals, and remortgage cashback and remortgage energy efficient home ranges up to 90% LTV have been lowered. Pricing begins from 4.19%.
On the buy-to-let side, HSBC’s two and five-year deals with no fee, standard and £3,999 fee have been cut from 60% to 75% LTV. Rates start from 4.04%.
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Existing customer switching and existing customer borrowing more rates have been cut. This includes two-year fixed rate standard products and five-year fee-saver deals from 65% to 75% LTV as well as two-year fee-saver deals. Rates are priced from 4.19%.
From a buy-to-let remortgage perspective, HSBC’s two and five-year deals with no fee, standard and a £3,999 fee have been cut from 60% to 75% LTV. Pricing starts from 3.94%.
In its international residential range, two-, three- and five-year fixed rates from 60% to 75% LTV have been cut, along with two- and five-year premier exclusive products. Prices start from 4.57%.
Within its international buy-to-let range, two- and five-year fixed rates with standard and no fees from 60% to 75% LTV have been cut. Rates begin from 4.69%.
HSBC reported £3.6bn in mortgage growth annually in 2024, and its market share had grown to 8.1%.
Virgin Money cuts purchase and PT rates by up to 0.11%
Virgin Money is lowering select purchase and product transfer rates by up to 0.11% from 25 February.
Within its purchase range, its five-year fixed rate at 80% LTV with an £895 fee will be reduced by 0.02% to 4.42%.
Its two-year fixed rates at 90% LTV will be lowered by up to 0.10%, starting from 4.96%, while its two and five-year fixed rate fee-saver deals at 95% LTV will be cut by 0.02% and 0.04% to 5.45% and 5.18% respectively.
Fix and Switch rates at 90% and 95% LTV will decrease by up to 0.1% and begin from 5.22%.
Own New two-year fixed rates at 90% LTV will fall by 0.03% and start from 2.30%.
Within its product transfer range, selected 65% and 75% LTV one-, two- and three-year fixed rates will be reduced by up to 0.11%, starting from 4.15%.
Five-year fixed rates at 65% and 75% LTV will be lowered by up to 0.10% and are priced from 4.12%.
