"While mortgage rates have been in flux during 2024, moving up and down regularly, these rate cuts so early in 2025 will be a welcome move to those with home ownership New Year resolutions"
- Oli O’Donoghue - HSBC UK
HSBC UK has announced that it has reduced mortgage rates across its range of buy-to-let and residential products by up to 0.47%.
According to the lender, all two-year fixed rate residential mortgages have reduced by up to 0.16%, while all five-year fixed rates for purchase and remortgage are down by up to 0.15%, with the lowest standard rate now at 4.09% (4.06% for Premier customers).
Existing customer switcher rates have seen reductions of up to 0.47% and buy-to-let rates for those looking to remortgage to HSBC UK have been cut by up to 0.23%.
In addition, HSBC has announced changes to its Energy Efficient Homes Cashback mortgage, making its cashback of up to £750 more accessible to more customers.
HSBC launched the mortgage in March 2024 to encourage sustainable decisions by those looking to buy a new home or remortgage their current home. The EEHC provides cashback if a home being bought or remortgaged to HSBC has an EPC rating of A or B, which is in addition to any other cashback available on the chosen mortgage.
Oli O’Donoghue, HSBC UK’s head of mortgages, said: “The start of a new year often brings resolutions of spending less, saving more, or moving house at the upper end of the financial decisions scale. We are firmly focused on helping customers onto or up the property ladder, whatever the time of year, and we are committed to providing some of the best mortgage options available to help our customers achieve their homeownership goals.
"While mortgage rates have been in flux during 2024, moving up and down regularly, these rate cuts so early in 2025 will be a welcome move to those with home ownership new year resolutions.
“The introduction of our Energy Efficient Homes Cashback mortgage has been very popular, with thousands of homeowners making sustainable choices in addition to having a home with reduced energy bills and benefiting from our cashback incentive.
"We know that some customers prefer to come to us directly and not through a broker, so I am pleased those customers will now also have this cashback mortgage available to them, giving them another reason to make a sustainable choice.”
