HSBC launches 3.99% fixed-rate mortgage

Mortgage rates have remained elevated since the mini-Budget, but could this latest offering from HSBC be a sign of lower rates to come?

HSBC bank
(Image credit: © Getty Images)

HSBC has launched a five year fixed-rate mortgage with a rate of 3.99% – the first product to offer a rate lower than the Bank of England’s base rate since the mini-Budget in September.

Mortgage rates hit a peak of 6.65% in September, and though they have since begun to fall they remain a far cry from the 2% rates we saw at the end of 2021.

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Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.