The 2-year discount has been cut to 1.69% with a fee of £1499 while the lifetime tracker has dropped to 2.19% with a fee of £1999.
Peter Dockar, HSBC head of mortgages, said: "We have seen increasing confidence in the market and with mortgage rates at an all-time low now is a good time for borrowers to review their existing rates.
"Last year we opened more doors for our customers than ever before and with the security of our retail deposit funding we are committed to continuing to offer our customers competitive rates to help them achieve their property hopes and dreams."
And the bank has added two 5-year fixed rates at 60% LTV. To secure a rate of 2.59% the borrower will be charged £1999 and for a 2.99% rate the fee is reduced to £99.
HSBC will continue to offer remortgage customers £500 cashback on its standard and fee-free mortgage range.
Rachel Springall, finance expert at Moneyfacts.co.uk, said: "It's great to see HSBC rewarding remortgage customers with cashback especially when it's combined with a fee-free package.
"HSBC won the category of Best Remortgage Provider in the Moneyfacts Awards 2013. The 1.49% 2-year fixed is the lowest rate in the market.
"First-time buyers will be pleased to see a market leading rate still on offer if they have a 10% deposit and enough money to cover mortgage fees.
"HSBC were also the winners in the Best First Time Buyer Mortgage Provider category at the Moneyfacts Awards 2013."
