HSBC is expected to extend its sub-4% home loans, while Virgin Money trims selected residential and landlord loans by up to 16 basis points.
HSBC will make reductions across the majority of its loans, including rates for home purchases, remortgage and for existing customers coming to the end of a deal who want to stay with the lender.
The lender already offers two sub-4% loans for premier customers.
Its cuts, which come to market on Monday, cover residential and buy-to-let home loans as well as mortgages for international customers.
HSBC UK director of mortgages Oli O’Donoghue says: “There are a number of factors taken into account when setting mortgage rates and following a review we are pleased to announce that rates across our residential, BTL and international mortgage ranges for new and existing customers are coming down from Monday.”
Meanwhile, Virgin reduces a range of residential and BTL rates by as much as 16bps from today.
Virgin’s highlights include:
Remortgage
- 80% loan to value to 90% LTV two-year fixes will be reduced by up to 15bps, starting from 4.63%
BTL
- Fix and Switch fixes will be reduced by 10bps, starting from 4.80
Product transfer
- Two-year fixes will be reduced by up to 16bps starting from 4.04%
