HSBC mortgage rates:
the full table and a broker's view

HSBC's Standard Variable Rate (SVR), the rate these products revert to when the fixed period ends, is 6.24%. The Annual Percentage Rate of Charge (APRC) shows the overall cost of each deal for comparison across the whole term. Current fixed periods run to 31 October 2028 on the 2-year products and 31 October 2031 on the 5-year, each with a 10% annual overpayment allowance, standard lending up to £2,000,000 and 90% LTV lending capped at £750,000.

HSBC also prices Fee Saver versions of these products with no booking fee at a higher rate, for example 4.70% against 4.49% on the 2-year fixed at 60% LTV. As a rough guide on interest cost alone, that 0.21 point gap is about £420 a year per £200,000 borrowed, so over a 2-year fixed term the £999 fee tends to pay for itself on loans above roughly £238,000 and the Fee Saver tends to win below it. The lowest rate on the page is not automatically the cheapest deal for your loan size, which is exactly why a broker runs this arithmetic case by case.

If you would like that fee-versus-rate arithmetic run on your own numbers against the whole of market, call 01202 155992 or contact Mortgage One.

What changed in HSBC's mortgage pricing this month?

The striking feature at our check is how flat HSBC's pricing is: 5-year money sits within two basis points of 2-year money at 60% LTV, and 5-year is actually cheaper than 2-year at both 75% and 90% LTV. Long-term certainty currently costs almost nothing extra at HSBC, and at two of the three LTV bands it costs less.

Two things stand out at this check. First, HSBC has been an active repricer all year: it delivered a May round of rate cuts of up to 30 basis points, then raised prices twice in a single week in July, which is why this page carries a checked date rather than any claim to be live. Second, the shape of the current range is unusual, with 5-year money priced at or below 2-year money across the LTV bands.

That flat curve does not mean the market expects rates to tumble. The Bank of England base rate was held at 3.75% on 30 July with three of nine votes for a rise, the next decision lands on 17 September 2026, and the market-implied path points modestly higher over the year ahead. Read together, the broker take is that HSBC is competing hard for 5-year business, so long-term certainty is unusually cheap right now for borrowers who want it. Our UK interest rate projection tracks the market-implied path around each Bank of England decision.

Which borrowers do HSBC's lending criteria suit?

HSBC suits borrowers with a stable basic salary, clean low-LTV cases and larger loans, lending up to £2,000,000 as standard. Variable pay counts at a maximum of 60% of the average, contractors are assessed on the lower of P60 and annualised payslips, and a permanent contract with a probationary period counts as normal employed income.

Variable pay is capped. Bonus, overtime and commission count at a maximum of 60% of the average, and the variable element must appear on at least half the payslips HSBC sees, so heavy-bonus earners are often assessed more generously elsewhere. Sub-contractors who pay their own tax, including the Construction Industry Scheme (CIS), are assessed on the lower of the latest P60 and the annualised recent payslips, so a strong recent run rate does not always carry full weight.

A new job is usually fine. A permanent contract with a probationary period is treated as normal employed income, which makes HSBC a practical option for movers who have just changed employer. Foreign currency income is considered, which matters to the expat borrowers we work with every week, and our expat mortgage hub covers the wider picture. Expat clients need to be on UK soil to receive advice. Criteria change and every case carries its own wrinkles, so treat this as a broker's-eye view rather than a promise on any individual application.

Already with HSBC? Check before you switch

When a fixed deal ends, HSBC offers existing customers a product switch priced from its own range only. The switch is quick to take, but on any given day another lender can be sharper for your LTV band, loan size or circumstances, so the comparison against the wider market belongs before you commit, not after.

The right order is simple: get your switch offer from HSBC, then price it against the rest of the market before you commit. The switch menu is one lender's pricing on one day, and a comparison covering deals from in the region of 100 lenders regularly turns up a sharper deal for a given LTV band or loan size even after fees. Doing nothing is the one outcome worth ruling out early, because a lapsed deal rolls onto the SVR at 6.24%.

Before you accept HSBC's switch offer, or for a free initial consultation on whether HSBC fits your case at all, call 01202 155992 or contact Mortgage One.

Back to Rate Forecast and Economic Drivers

The information provided in this article is for general guidance only and does not constitute personal or regulated financial advice. If you'd like to understand what these moves could mean for you, speak to Mortgage One. We can explain your options and timings based on your specific circumstances.

FAQs

1) What are HSBC mortgage rates today?

At our 1 September 2026 check, HSBC's advertised residential rates for home movers started at 4.49% on a 2-year fixed and 4.51% on a 5-year fixed at 60% LTV, each with a £999 booking fee, with the SVR at 6.24%. HSBC reprices frequently, so read every figure alongside its checked date rather than as live pricing.

2) What is HSBC's Standard Variable Rate?

HSBC's SVR is 6.24% at our 1 September 2026 check. It is the rate a mortgage reverts to when a fixed or tracker deal ends, and the gap between the SVR and the fixed rates in the table above is the cost of doing nothing at the end of your deal. The months before your fix ends are the time to act.

3) Is it better to fix for 2 or 5 years with HSBC?

There is no universal answer, but HSBC's current pricing makes the question unusually cheap to weigh, because 5-year money now costs about the same as 2-year money at 60% LTV and less at both 75% and 90% LTV. Our fix now or wait guide works through the wider decision against the current rate outlook.

4) Which lender has the lowest mortgage rates right now?

No single lender holds the lowest rate across every LTV band, loan size and product type, and the leader changes week to week as lenders reprice. HSBC is frequently competitive at low LTVs. The reliable way to answer the question for your own case is a whole of market comparison run on the day.

5) Will HSBC cut mortgage rates again in 2026?

Nobody can promise either way. HSBC has repriced repeatedly through 2026: cutting in May, raising twice in a single week in July, then trimming most of the fixed range again by early September, and fixed pricing follows swap rates rather than Bank of England decisions alone. Market pricing currently points modestly higher over the year ahead.

6) Does HSBC offer buy to let (BTL) mortgages?

Yes. HSBC lends on buy to let (BTL) with separate products and affordability rules from its residential range, and its 2026 repricing rounds have covered BTL alongside residential. Landlords buying through a company should start with our guide to limited company buy to let.