21 May 2020

HSBC UK cuts mortgage rates

HSBC UK has made changes to its mortgage range, reducing the interest rate across a number of fixed rate mortgages and LTVs, the bank announced today.

The bank is reducing rates on 18 mortgages across 60% to 80% LTV, with rates as low as 1.14% for a 2 year fixed rate deal at 60%, and 1.39% for a 5 year fixed rate for those homeowners who want more longer term certainty over payments.

Changes include:

  • 2 year fixed rate at 60% LTV (£999 fee) will see a reduction of 0.05% to 1.14%. The fee-saver equivalents also reduced by 0.05% to 1.44%.
  • 3 year fixed rate at 75% LTV (£999 fee) reduced by 0.05% to 1.39%.
  • 5 year fixed rate at 75% LTV fee-saver reduced by 0.10% to 1.89%.
  • 2 year tracker at 80% LTV (£999 fee) reduced by 0.05% to 1.69%.

Michelle Andrews, HSBC UK’s Head of Buying a Home, said: “With many people coming off a fixed rate deal, whether they were five, three or two year, it is likely that they are on a higher rate than what is currently available. Remortgaging onto a lower rate could save them thousands of pounds over their fixed term, and even more if they were to stay on a Standard Variable Rate.

“For many, given the nature of recent events, a five year deal will provide certainty on cost and related peace of mind.”

Media enquiries to:

Steve Gracey: steve.gracey@hsbc.com / 020 7991 4118

Email: UKPressOffice@hsbc.co.uk

For the latest news and updates, visit the HSBC UK newsroom: www.about.hsbc.co.uk/news-and-media

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 the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,918bn at 31 March 2020, HSBC is one of the world’s largest banking and financial services organisations.