6 July 2021

HSBC UK mortgage rate cuts brings lowest ever mortgage

HSBC UK has reduced interest rates by up to 0.30% on over 40 mortgages across all Fixed Rate mortgage terms and all LTVs, the bank announced today.

The mortgage rate reductions mean HSBC UK is offering its lowest ever interest rate of 0.94% alongside other reductions that will bring the cost of a mortgage with HSBC UK down for first time and next time buyers, plus those looking to remortgage.

The rate changes include:

  • 60% LTV 2 year fixed rate (£999 fee) down 0.05% to 0.94% - our lowest ever fixed rate mortgage, with the Feesaver equivalent reduced by 0.10% to 1.14%;
  • 85% LTV 2 year fixed rate (£999 fee) cut by 0.30% to 1.99% - the lowest since October 2020, with the Feesaver equivalent also reduced by 0.30% to 2.29%
  • 90% LTV 2 year fixed rate (£999 fee) reduced by 0.30% to 2.49% - the lowest since the reintroduction of this LTV in January.

Other reductions include:

  • 95% LTV (Mortgage Guarantee Scheme) 2 year fixed rate cut by 0.20%, with £999 fee mortgage now at 3.39% and Feesaver down to 3.59%;
  • 75% LTV 5 year fixed rate (£999 fee) reduced by 0.20% to 1.29%
  • 90% LTV 5 year fixed rate (£999 fee) down by 0.25% to 2.99%.

Michelle Andrews, HSBC UK’s Heads of Buying a Home, said: “We have made significant rate cuts across our fixed term mortgages, continuing our support for all buyer types whether they are first time buyers as they look to take their first step on the property ladder alongside those also looking at moving up the ladder with their next home, or those whose fixed rate deals are coming to an end and looking for a new deal.”

“This change includes our lowest ever mortgage rate of 0.94%, plus other rates that are hitting new lows, making it much cheaper for home buyers as well as those looking to remortgage, regardless of the size of their deposit or the equity they hold.”

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.