HSBC has announced cuts to their mortgage rates.

The bank has reduced rates across all their mortgages, with some fixed-rate deals falling by as much as 0.17%.

Here’s what you need to know:

For Homebuyers:

• Five-year fixed-rate mortgages: Rates now start from a competitive 3.82% for those borrowing 60% of their property’s value (60% LTV). This applies to first-time buyers, those moving home, and existing homeowners.
• 70% and 75% LTV five-year fixes: These also now boast rates below 4%, making it more affordable to borrow larger amounts.
• Two-year fixed-rate deals: If you prefer a shorter commitment, rates for these start from 4.14% for a 60% LTV mortgage.

For Remortgagers:

• HSBC has made significant cuts, up to 0.15%, to its 70% and 75% LTV products.
• Five-year fixed-rate mortgages at 60% LTV now start at 3.90%, a reduction of 0.09%.

For Landlords:

• Five-year fixed-rate buy-to-let mortgages have been reduced by up to 0.17%.
• Rates now start at 4.02% for a 60% LTV mortgage (for existing HSBC customers).

Oli O’Donoghue, HSBC’s Head of Mortgages, said the bank is committed to “servicing the needs of customers with varied lending requirements” with their wide range of mortgages.

These rate cuts are a positive sign for the housing market, and could make it easier for people to get on the property ladder or secure a better deal on their mortgage.