HSBC has introduced a two-year fixed mortgage with a rate of 1.19 per cent in a new round of reductions on its product range.
The 1.19 per cent two-year fix comes with a fee of £1,499 and is available for customers with a 40 per cent deposit.HSBC have lowered rates throughout its 60 to 95 per cent loan-to-value product range. Among the 60 per cent LTV offers is a five-year fix with a rate of 2.39 per cent and £999 fee.
Two new rates, a two-year fix at 4.39 per cent and £99 fee and a five-year fix at 4.89% and £99 fee, were launched yesterday in HSBC’s 95 per cent LTV range.
The bank also introduced a new 2.38 per cent discount rate mortgage for up to 90 per cent LTV and a fee of £1,499 for new clients. The fee for existing mortgage holders wanting to switch is £999 and for users of HSBC Advance or HSBC Premier products it is £1,199.
Highlights of the 70 per cent LTV range are:
| Â Term | Â LTV | Â Fixed rate | Â Fee |
|  2 years |  70% |  1.64% |  £1,499 |
|  2 years |  70% |  1.79% |  £999 |
| Â 2 years | Â 70% | Â 2.29% | Â No fee |
The 1.64 per cent and the 1.79 per cent two-year fixes come with reduced fees for existing HSBC customers. Existing mortgage holders switching rates and/or borrowing more on their existing property are being offered a fee of £999 on the 1.64 per cent fix and a fee of £299 for the 1.79 per cent one. Users of the HSBC Advance or HSBC Premier products will get the 1.64 per cent fix with a fee of £1,199 and the 1.79 per cent fix with a fee of £499.
New rates in the 80 per cent LTV range:
| Term | LTV | Fixed rate | Fee (new) | Fee (exist.) | Fee (HSBC Advance or HSBC Premier) |
|  2 years |  80% |  1.99% |  £,1499 |  £999 |  £1,199 |
|  2 years |  80% |  2.19% |  £999 |  £299 |  £499 |
| Â 2 years | Â 80% | Â 2.69% | Â No Fee | Â — | Â — |
|  5 years |  80% |  3.09% |  £,1499 |  £999 |  £1,199 |
| 5 years | 80% | 3.39% |  £999 |  £299 |  £499 |
| 5 years | 80% | 3.89% | Â No Fee | Â — | Â — |
New rates in the 90 per cent LTV range:
| Term | LTV | Fixed rate | Fee (new) | Fee (exist.) | Fee (HSBC Advance or HSBC Premier) |
|  2 years |  90% |  3.19% |  £,1499 |  £999 |  £1,199 |
|  2 years | 90% |  3.39% |  £999 |  £299 |  £499 |
| Â 2 years | 90% | Â 3.89% | Â No Fee | Â — | Â — |
|  5 years | 90% |  3.94% |  £,1499 |  £999 |  £1,199 |
| 5 years | 90% | 4.29% |  £999 |  £299 |  £499 |
| 5 years | 90% | 4.79% | Â No Fee | Â — | Â — |
