HSBC is also reducing rates on remortgage products, with changes spanning two- and five-year fixed deals across fee-saver, standard and premier exclusive ranges.
The lender said the repricing also applies to selected products offering cashback and to its energy-efficient mortgage options for homes with EPC ratings of ‘A’ or ‘B’. Existing borrowers will see lower pricing for borrowing more and for product switches, including reductions on 10-year fixed options.
Buy-to-let customers will also benefit from lower rates on purchase and remortgage products, including energy-efficient variants. HSBC added that international residential and international buy-to-let products are included in the changes, with reductions applied across two-, five- and 10-year fixed options depending on the product and loan-to-value tier.
In addition, HSBC has updated fixed rate end dates across its range, extending maturity dates to July for its two-, three-, five- and 10-year products.
Similarly, Virgin Money has also announced changes, cutting rates by as much as 0.45% across selected purchase and remortgage deals.