Mortgage range refresh leads to rate cuts
With rates being cut by up to 0.30%, HSBC UK is making it cheaper to get onto or move up the property ladder. This move comes as HSBC UK recorded March as its busiest ever month for mortgage completions.
The rate cuts include:
- 95% LTV 2 year fixed rate (£999 fee) cut by 0.25% to 3.74%, with the Feesaver equivalent down by 0.30% to 3.99% under the Mortgage Guarantee Scheme
- 90% LTV 2 year fixed rate (£999 fee) reduced by 0.10%, now priced at 2.99%
- 80% LTV fixed rates down by 0.10% for all 2 year and 5 year fixed rates
- 75% LTV 5 year fixed rate (£999 fee) down to 1.54%
- 60% LTV 5 year fixed rate (£999 fee) reduced to 1.24%, with the Feesaver equivalent down to 1.54%
The bank has also continued to on-board broker partners apace, with more than 400 broker firms now with access to HSBC UK’s mortgages, and increase of over 100 firms in just over eight weeks.
Michelle Andrews, HSBC UK’s Head of Buying A Home, said: “The Government’s Stamp Duty relief scheme gave a welcome boost to the mortgage and property markets and the resilience of homebuyers has really shone through. It has been fabulous to see all parties come together again to make great things happen.
“We completed more mortgages in March than any month in the 40+ years we have offered home loans, including those for over 3,000 first time buyers, have increased the number of brokers who have access to our award-winning mortgage by a third, adding over 100 broker firms to our panel and introduced 95% LTV mortgages. It has been an incredibly busy time for us, but while we have seen all of this with lockdown measures still in place, and I am extremely proud of my teams who are delivering customer focused service on a daily basis.”
Michelle Andrews continued: “Not only does this all give me great hope for HSBC UK providing a greater share of mortgages with excellent levels of service, it gives me great hope and excitement for the mortgage and housing markets post-lockdown.”
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
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.