17 June 2021

60% LTV mortgage goes sub-1.00% as rate refresh provides savings of up to 0.20%

The rate cuts mean the bank will be offering a sub-1:00% mortgage for the first time in almost five years in addition to re-introducing a 3 year fixed rate option.

The 21 different rate changes include:

  • 60% LTV 2 year fixed rate (with £999 fee) down to 0.99%, a cut of 0.05%;
  • 60% LTV 3 year fixed rate introduced at 1.14% (with £999 fee) and 1.34% (no fee), but 0.15% lower than when they were last available in July 2020;
  • 75% LTV 2 year fixed rate (with £999 fee) down by 0.10% to 1.19%;
  • 95% LTV 2 year fixed rate Mortgage Guarantee Scheme (no fee) cut by 0.20% to 3.79% with the £999 fee equivalent reduced by 0.15% to 3.59%; and
  • 95% LTV 5 year fixed rate Mortgage Guarantee Scheme rates cut by 0.20% with £999 fee mortgage reduced to 3.79% and the no fee equivalent down to 3.99%.

Michelle Andrews, HSBC UK’s Head of Buying a Home, said: “The housing market really is moving, with both purchase and remortgage activity on the rise. Those who are currently looking at moving onto or up the property ladder, and those who have a fixed rate deal coming to an end, can take advantage of some of the lowest rates we have offered for a while.

“For the first time in almost five years we have a sub-1.00% mortgage, and we are also reintroducing our 3 year fixed rate option, with many rates lower than when we last offered them in July 2020. The longest day of the year is almost upon us, and while people will have more daylight in which to view their first property, their next property or their forever home, they will be able to do so with the backdrop of some fantastic mortgage deals, making their purchase or remortgage much cheaper.”

Media enquiries to:

Steve Gracey, HSBC UK Media Relations | steve.gracey@hsbc.com | 020 7991 4118

Email: UKPressOffice@hsbc.co.uk

Note to editors:

HSBC UK serves around 14.5 million customers across the UK, supported by 32,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.

HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,959bn at 31 March 2021, HSBC is one of the world’s largest banking and financial services organisations.