HSBC becomes first 'big six' lender to bring back sub-4% mortgage rates
HSBC for Intermediaries is the first of the ‘big six' lenders to bring back sub-4% mortgage rates as lenders continue to lower rates.
This is the first time since April 2023 that five- and ten-year fixed rates are sub-4%. The lender's buy-to-let rates are also under 5.50% for the first time since June 2023.
HSBC has improved rates across all fixed-rate mortgages, meaning over 240 separate rates across residential and buy-to-let have been cut. The most significant price improvement was 1% on its ten-year fixed rates, which is now available below 4%.
The cost of funding mortgages has reduced, so the lenders are under more pressure to offer cheaper rates soon. Banks and building societies will want the strongest possible start to the year, so following Halifax's rate improvements, some other big providers like NatWest and Nationwide will likely make rate announcements soon.
An HSBC UK spokesperson: “We are always striving to support new and existing mortgage customers whether they are moving onto or up the property ladder, or looking to remortgage with us. Our new fixed mortgage rates will see significant cuts across the board which will be a welcomed move.”
Call Trinity Financial on 020 7016 0790 to secure a mortgage through HSBC, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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