Changes will be made across two- and five-year fixes on HSBC’s residential existing customer switching products, FTB, home mover, remortgage ranges and BTL; while Aldermore has launched limited edition buy to let mortgage rates
HSBC will make a mix of increases and decreases across its product lines from tomorrow.
Changes will be made across two- and five-year fixes on the lender’s residential existing customer switching products, FTB, home mover, remortgage ranges and BTL.
John Charcol mortgage technical manager Nick Mendes says: HSBC’s latest mortgage rate changes reflect a strategic and varied approach, with a mix of increases and decreases across its product lines.
The cuts in the 2-Year Fixed Standard products at 80% and 85% loan to value suggest a focus on making mid-tier borrowing more attractive, especially for homeowners looking to remortgage. However, the increases in lower loan to value products, particularly at 60%, point to a more cautious response to recent market volatility and rising funding costs, he said.
These adjustments align with similar moves from major lenders like Barclays, Halifax, Santander, and NatWest, who have all reacted to fluctuations in swap rates. While these repricing changes signal short-term market volatility, they do not necessarily indicate a long-term trend, he said.
In the wider economic context, declining inflation has strengthened the BoE’s position to consider rate cuts in November and possibly December. However, the market remains sensitive to changes in the economic outlook, with attention focused on next week’s budget for further direction, he added.
Elsewhere, Aldermore has launched limited edition buy to let mortgage rates, effective tomorrow.
For individual and company landlords with single residential investment properties, the lender has added a five-year fix with zero fee and a rate of 5.69% up to 75% loan to value.
In the same range it has added a two-year fix with a 3% fee and a rate of 4.84% up to 75% loan to value.
Meanwhile, the lender has introduced four products to its multiple property range for individual and company landlords with residential investment properties.
It has added a five-year fix with a 1.50% fee and a rate of 5.34% up to 75% loan to value as well as a two-year fix with a 3% fee and a rate of 4.79% up to 75% LTV.