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HSBC have joined the efforts to reduce mortgage rates by offering deals below 4%.

HSBC announced cuts beginning Thursday 4th January on its residential mortgage interest rates, with several falling below 5% for the first time since April 2023. The largest drop was to its 10-year fixed rate remortgage deals, one of which is now sub 4%. The bank also announced a five-year-fixed remortgage deal, also sub 4%.




From Thursday, HSBC’s two-year fixed rate for remortgages will be below 5% for the first time since early June last year, for those with at least 40% equity in their home.


Halifax also cut the price of its two-year fixed-rate remortgage to below 5% on Tuesday, and Leeds Building Society and several smaller specialist lenders also announced rate cuts.


Many homeowners who had to take out new mortgages last year experienced a significant increase in their monthly repayments as they moved off cheap deals taken out several years earlier. However, with many lenders dropping rates, now is a great time to shop around and see if you can get a better deal on your mortgage!


Speak to one of our expert advisers for advice.


The information contained within was correct at the time of publication but is subject to change. Your home may be repossessed if you do not keep up repayments on your mortgage.

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