HSBC ups rates; Gen H updates pricing; Family BS makes cuts – round-up

For existing borrowers switching deals, two-, three- and five-year fixes up to 95% loan to value (LTV) have gone up, with two-year fixed 60% LTV rates from 4.96% for Premier borrowers with a £999 fee. 

The bank has also increased rates for residential customers borrowing more, buy-to-let (BTL) borrowers switching or borrowing more and selected three-year deals for international purchase and remortgage. 

Gen H cuts high-LTV rates, makes increases elsewhere 

Gen H has announced changes to its mortgage range, with reductions at high-LTV tiers and increases elsewhere. 

This includes its two-year fixes at 85-90% LTV, which have been cut by 0.2% and now start from 6.74%, and its three- and five-year fixes, which have been reduced by 0.05% apiece and both start from 6.69%. 

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At the 70-80% LTV tier, two-year fixes have increased by 0.1% to start at 6.04%, while the £500,000-plus mortgage at 80% LTV is priced at 5.84%. 

Three-year fixes have gone up by 0.05% to start from 6.29% and five-year fixes have increased by the same, starting at 6.33%. 

Gen H said pressure on swap rates had reignited inflationary fears and rate volatility would likely remain through the delivery of the Autumn Budget. 

Sara Palmer, chief distribution officer at Gen H, said: “Markets have been volatile lately, so we’ve done what we can to support borrowers with smaller deposits even amidst these upward price pressures. Last year, the pre-Budget jitters drove a good deal of uncertainty in the market; this year, it’s geopolitical tension. We will look to price down further as soon as we can, as aspiring homeowners could really use a break.” 

Family BS cuts two-year fixed rates 

Family Building Society has lowered rates across its newly launched two-year fixed rates for owner-occupiers and BTL borrowers. 

Reductions of up to 0.2% have been made, with the BTL limited company rate and BTL rates seeing the largest cuts, followed by owner-occupied repayment and interest-only mortgages, with a 0.15% reduction each, and its BTL expat product, which has been cut by 0.1%. 

Further, the mutual has introduced a two-year expat limited company BTL tracker product at 5.54% with a 1% fee, and a semi-exclusive tracker priced at 4.54% with a 3% fee and £500 cashback. 

Both products are available on interest-only or repayment structures. 

Darren Deacon, head of intermediary sales at Family Building Society, said: “While long-term rate uncertainty continues, these lower-priced two-year options will be welcomed by owner-occupiers and landlords seeking the certainty that shorter-term fixed rates provide.

“The new expat limited company BTL tracker also offers flexibility to landlords who are comfortable taking a view on potential movements in bank rate.”