19 February 2021

HSBC UK updates mortgage rates and bonus payments

HSBC UK has made changes to its mortgage rates, making one dozen rates cheaper, the bank announced today. The bank has also confirmed that it has updated its lending policy on variable pay.

Mortgage rate cuts include:

  • 90% LTV 2 years fixed rate (£999 fee) cut by 0.15% to 3.24%, with the no-fee equivalent cut to 3.44%.
  • 90% LTV 5 year fixed rate (£999 fee) down by 0.10% to 3.44%, with the no-fee equivalent down by 0.10% to 3.64%
  • 85% LTV 2 year fixed rate (£999 fee) reduced by 0.10% to 2.54%, (no fee down to 2.84%)
  • 85% LTV 5 year fixed rate (£999 fee) cut by 0.10% to 2.84% with the no-fee equivalent reduced to 3.14%

HSBC UK has also made changes to its variable pay policy, enabling income from commission and overtime, in addition to quarterly, half-yearly or annual bonus payments to be used to support mortgage affordability. The most recent payment must have been received in 2021.

Michelle Andrews, HSBC UK’s Head of Buying a Home, said: “We are all looking forward to normality returning, and the inclusion of overtime, commission and bonuses to support a mortgage application is one bit of normality that will be welcomed by many looking to move onto or up the property ladder.”

Media enquiries to:

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

Email: UKPressOffice@hsbc.co.uk


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 $2,956bn at 30 September 2020, HSBC is one of the world’s largest banking and financial services organisations.