HSBC Reduces Mortgage Product Rates Across Residential and Buy-to-Let Ranges

HSBC Reduces Mortgage Product Rates Across Residential and Buy-to-Let Ranges

HSBC has announced a series of mortgage rate reductions, effective Thursday, 3rd October, impacting both residential and Buy-to-Let (BTL) customers. The changes apply to a variety of product ranges, including homemover, first-time buyer, remortgage, and high-value mortgages. This move could provide significant savings for existing and new mortgage customers as rates decrease across various loan-to-value (LTV) tiers. Below is a detailed summary of the changes across different mortgage categories.

High-Value Mortgages:

HSBC is introducing a new high-value mortgage product for loans above £2,000,000.01. These mortgages come with a £1,999 booking fee and will be available for Homemovers, First-Time Buyers, and Remortgage customers at 60%, 70%, and 75% LTV.

Existing Residential Customers: Switching Rates

• The 2-Year Fixed Fee Saver at 70% to 95% LTV will see reductions.
• The 2 & 5-Year Fixed Standard for LTVs from 60% to 90% will also decrease.
• The 3 & 10-Year Fixed Fee Saver and Standard at 60% to 75% LTV will drop.
• The 5-Year Fixed Fee Saver at 60% to 95% LTV is decreasing, as well as the 5-Year Fixed Premier Exclusive at 60% to 90% LTV.

Find Out How Much You Can Borrow!

Wondering what these rate changes could mean for you? Use our How Much You Can Borrow Calculator to see how much you could qualify for with the new rates. Whether you’re a first-time buyer, homemover, or looking to remortgage, our easy-to-use calculator gives you a quick estimate tailored to your needs.

Existing Residential Customers: Borrowing More
For customers looking to borrow more, the following changes apply:

• 2-Year Fixed Fee Saver at 70% to 90% LTV will see rate reductions.
• The 2 & 5-Year Fixed Standard for LTVs from 60% to 90% will drop.
• The 3 & 10-Year Fixed Fee Saver and Standard at 60% to 75% LTV will decrease.
• The 5-Year Fixed Premier Exclusive at 60% to 90% LTV will also reduce.

First-Time Buyer & Homemover: Standard & Energy-Efficient Homes

• For first-time buyers and homemovers, both 2 & 5-Year Fixed Fee Saver and Fixed Standard products from 80% to 95% LTV will experience rate cuts.
• Special attention is given to energy-efficient homes (A & B EPC-rated properties), with rate reductions across 2 & 5-Year Fixed Fee Saver and Standard products at 80% to 95% LTV.

First-Time Buyer & Homemover: Standard & Energy-Efficient Homes

Customers looking to remortgage will benefit from reductions in the 2 & 5-Year Fixed Fee Saver and Standard products across LTVs ranging from 60% to 90%.

• Energy-efficient homes with A & B EPC ratings will see reductions in 2 & 5-Year Fixed Fee Saver and Standard products.
• HSBC is also reducing rates on 2 & 5-Year Fixed Fee Saver products with cashback options at 60% to 90% LTV.

Buy-to-Let (BTL): Existing Customer Switching and New Borrowing

For BTL customers, the following products will see reductions:

• 5-Year Fixed Fee Saver at 60% and 65% LTV.
• 5-Year Fixed Standard at 60% and 65% LTV.

BTL Purchase and Remortgage

• The 2 & 5-Year Fixed £3,999 Standard products at 60%, 65%, and 75% LTV will decrease.
• Additionally, the 5-Year Fixed Fee Saver at 60% and 65% LTV will see a reduction, as will the 5-Year Fixed £1,999 Standard product at 60%, 65%, and 75% LTV.

International Residential and BTL Products
For international customers, HSBC is decreasing rates across its residential and Buy-to-Let mortgage products. This includes 2, 3, 5, and 10-Year Fixed Fee Saver and Fixed Standard options at 60% to 75% LTV, as well as reductions in the 5-Year Fixed Premier Exclusive.

Summary:
HSBC’s latest rate reductions provide a great opportunity for both residential and BTL mortgage customers. Whether switching, borrowing more, or purchasing a new home, these changes offer significant potential savings. Energy-efficient home buyers can also benefit from special rate cuts, making this update relevant for a broad range of customers.

Looking for expert advice to navigate these changes? Contractor Mortgage Solutions specializes in helping contractors, including locum doctors, secure the best mortgage deals. Our tailored services ensure you get the most suitable mortgage for your needs. Reach out to us today and let’s simplify your mortgage journey!