HSBC, The Co-operative Bank, Nottingham BS, Atom bank, and Gen H offer relief to borrowers
Several mortgage lenders have announced rate changes across their product offerings, with reductions targeting a range of borrower profiles including first-time buyers, remortgagers, buy-to-let investors, and foreign nationals.
HSBC has implemented widespread rate cuts from today, April 16, across residential and buy-to-let products for both new and existing customers. Reductions affect residential customer switching and borrowing more options, with fee-saver deals up to 95% loan-to-value (LTV) and standard and premier exclusive products up to 90% LTV seeing cuts. First-time buyer and homemover deals on two- and five-year terms have also been lowered, including energy-efficient options.
Residential remortgage products, including cashback deals, have seen rates fall across fee-saver, standard and premier exclusive categories. Cuts also apply to high-value mortgages, with two-year deals up to 75% LTV and five-year deals at 60% LTV decreasing.
BTL offerings have also been reduced, including two-year fixed and remortgage products up to 75% LTV, with further cuts for five-year fixed options at 60% LTV. HSBC’s international residential and BTL products up to 75% LTV have also seen rate reductions.
The Co-operative Bank is also making rate changes of up to 0.26% across its new business and retention mortgage ranges, with both increases and decreases. Residential remortgage and purchase fixed rates will fall by up to 0.26%, while five-year fixed purchase products with a £999 fee at 95% LTV will rise by 0.06%. Professional mortgage rates and Help to Buy deals for the Welsh scheme will also be reduced.
In the bank’s retention range, selected two- and three-year residential and BTL fixed rates will drop by up to 0.18%, with Help to Buy products decreasing by up to 0.11%.
Meanwhile, Nottingham Building Society has made further cuts of up to 0.10% to its foreign national mortgage range. The move follows a series of 2024 enhancements that included expanded visa eligibility and support for new build deposits.
Digital lender Atom bank has also lowered rates across its Prime residential mortgage range by up to 0.20%. The changes apply to two-, three- and five-year fixed products available up to 95% LTV. As a result, two- and three-year fixed rates now start at 4.99%, with rates for borrowers with a 5% deposit starting at 5.24%.
Fintech mortgage lender Gen H has issued a second round of rate cuts in two weeks, focusing on high-LTV products aimed at first-time buyers. Standard two-year rates at 85% LTV and above have been reduced by 0.25%, while three- and five-year options have been cut by up to 0.18%. High LTV bundle rates have also seen minor improvements. The rates are live for brokers and can be paired with Gen H’s income and deposit booster products, New Build Boost, and flexible criteria.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
