HSBC lowered its minimum interest rate to 3.75%, while the original funds have pruned the interest rate and launched a new product.
HSBC cut a series of residential rates by 8 basis points, with a minimum rate of 3.75% for a two-year loan-to-value home loan of 60% for a two-year loan-to-value home loan at a cost of £999.
Other HSBC highlights include:
Buy:
- Two years of 60% LTV repair, costing £999, down 4bps to 3.78%. Priority interest rates are now priced at 3.75%
Re-signing:
- Two years 75% of LTV fixes, costing £999, down 5bps to 4.06%
Meanwhile, Virgin Money also raised interest rates by 15 basis points and launched exclusive funds.
Highlights of Virgin Money include:
New exclusive purchase:
- Two-year charges fixed on 90% of LTVs will start at 4.51%
New exclusive re-signation:
- Two-year fee fixed rate is 75%, which will be launched at 4.40%.
Exclusive cash:
- Two-year fixed fee for LTV is £995, which will reduce 15bps to 3.99%
- 75% of five-year fixed fee, with a fee of £995, which will reduce 13bps to 4.01%
Last week, Santander launched a 60% to 75% LTV two-year fix for Home Movers, starting at 3.73% for £999.
