Mortgage giant HSBC is slashing its fixed rates, making it even cheaper to borrow!

From today (3rd October), HSBC will be dropping rates across a range of mortgages, including deals for:

• First-time buyers
• Home movers
• Those remortgaging
• Buy-to-let landlords

Even existing HSBC customers can benefit, with cheaper rates on offer for those switching to a new fixed-rate deal. This is great news if you’re coming to the end of your current deal or if you’re looking to borrow more to finance home improvements.

This move is expected to shake up the mortgage market and force other lenders to lower their rates too. David Hollingworth, from mortgage broker London & Country Mortgages, said: “HSBC already offers some of the most competitive deals, so these cuts should make them even harder to beat.”

Big Money Mortgages Get a Boost

On top of the rate cuts, HSBC is launching a brand new range of mortgages specifically for those borrowing over £2 million. These “high value” mortgages will be available to those with a chunky deposit (at least 25% of the property value) or existing homeowners with a lot of equity in their property. However, be prepared to pay a hefty £1,999 booking fee.

What does this mean for you?

If you’re thinking about buying a home or remortgaging, now is a great time to shop around and compare deals. With HSBC leading the charge, we could be seeing some of the lowest mortgage rates in years. Speak to a mortgage broker to find the best deal for your circumstances.