HSBC Cuts Rates On 60% LTV Mortgage Deals | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 13/08/2020

Today HSBC has cut the rates on its two and five year fixed rate mortgage deals at 60% loan-to-value (LTV).

Mortgage borrowers can now get an HSBC two year fixed rate deal at 1.44%, which is fixed until 31 December 2022. This deal, available at 60% LTV, does not charge any product fees. It has also cut the rate on its two year fixed deal that charges £999 in product fees to 1.14% fixed until 31 December 2022. 

At the same time, HSBC has cut the rates on its five year fixed deals at 60% LTV today. Its fee saver rate has been cut to 1.59%, which is fixed until 31 December 2025 and has no product fees. HSBC has also cut its five year fixed deal that charges £999 in product fees to 1.34% fixed until 31 December 2025.

All these deals come with the incentive of free valuation and, for those remortgaging, no legal fees.

Mortgage rates increasing

As one of the biggest mortgage lenders in the UK, HSBC reducing rates will be welcome news to mortgage borrowers, especially as average rates on many LTVs, including two year fixed 60% LTVs, have increased between July and August. Saying this, mortgage rates in the 60% LTV charts continue to be competitively low, but borrowers looking for a mortgage should act quickly as lenders could start increasing rates on lower LTV deals as the current economic uncertainty continues.

For all available fixed rate deals, visit our two and five year fixed rate mortgage charts.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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