HSBC UK has reduced rates on products available up to 90% loan-to-value (LTV).

Notable reductions include the lender’s 90% LTV 2-year fix, cut by 0.15% to 3.24%, and its 90% LTV 5-year fix, reduced by 0.10% to 3.44%.

Both offerings include a £999 fee, or are available at 3.44% and 3.64%, respectively, without a fee.


Number of 90% LTV products on the rise

In addition, HSBC UK’s 85% LTV 2-year fix has been reduced by 0.10% to 2.54%, and the 85% LTV 5-year fix by 0.10% to 2.84%.

The two deals do not include fees, or are available at 2.84% and 3.14%, respectively, without a fee.

HSBC UK has also made changes to its variable pay policy, enabling income from commission and overtime, in addition to quarterly, half-yearly or annual bonus payments to be used to support mortgage affordability.

The most recent payment must have been received in 2021.

Michelle Andrews, head of buying a home at HSBC UK, said: “We are all looking forward to normality returning, and the inclusion of overtime, commission and bonuses to support a mortgage application is one bit of normality that will be welcomed by many looking to move onto or up the property ladder.”