HSBC mortgage rates increase

fiveacre

Looks like we may have reached the floor for HSBC fixed rates, as they have increased some low LTV rates today.

The higher LTV rates have reduced further however, and rates for remortgaging are now lower than new buyers (though not lower overall than they were last week).

https://intermediaries.hsbc.co.uk/newsroom/essential-reading/26-august-2021-changes-to-our-mortgage-products.html

Arfa__

Interesting news. Thankfully just got in there in time and blagged a 0.99% 5 year fixed rate deal. Was attempting a refresh offer after having already been accepted at their previous 1.09% rate. Received the formal offer today (on a bank holiday!) and very happy, especially seeing it's now gone up to 1.04%.

Ultimately only minor changes, but the 0.1% difference should save us about a grand over the 5 year fixed period, can't ignore that.

Thrugelmir

Might be little more rebalancing the overall mortgage book. Increasing/reducing rates is a way of controlling mortgage advances and be attractive to certain segments of the market. Mortgages aren't sold like tins of baked beans. Far more involved than just price.