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 January 2029 on the 2-year products and 31 January 2032 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 5.29% against 5.04% on the 2-year fixed at 60% LTV. As a rough guide on interest cost alone, that 0.25 point gap is about £500 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 £200,000 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?

HSBC's pricing has tilted after the 23 September rise: 5-year money now sits two basis points above 2-year money at 60% LTV and five basis points above it at 75% LTV, while at 90% LTV the 5-year is five basis points cheaper, 5.31% against 5.36%.

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, raised prices twice in a single week in July, then raised its residential and buy to let ranges three times in September, from 7 September, 15 September and 23 September, which is why this page carries a checked date rather than any claim to be live. Second, the 23 September round was the largest of the three, adding 12 to 31 basis points across the home-mover fixed range, and it tipped 5-year money above 2-year money at 60% and 75% LTV, reversing the shape of the 15 September range.

That tilt is consistent with a market pricing rises rather than cuts. The Bank of England held the base rate at 3.75% again on 17 September with three of nine votes for a rise, the next decision lands on 5 November 2026, and the market-implied path points modestly higher over the year ahead. Read together, the broker take is that HSBC has moved the whole home-mover range up for the third time in September and now charges a small premium for 5-year certainty at 60% and 75% LTV, while the 2-year remains the dearer fix at 90% LTV. Barclays shows a partly inverted shape too, and our Barclays mortgage rates page sets its 5-year pricing against its 2-year at every band. 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. Halifax runs the same retention model with a far higher reversion rate, and our Halifax mortgage rates page covers its product transfer window and pricing. Doing nothing is the one outcome worth ruling out early, because a lapsed deal rolls onto the SVR at 6.24%. For a like-for-like comparison with another big six lender, our NatWest mortgage rates page tracks the same table on the same checked-date basis. HSBC's published switch range and its pricing for borrowers moving in from another lender sit together on our page on HSBC remortgage rates, a ready yardstick for any switch offer from the bank.

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 7 October 2026 check, HSBC's advertised residential rates for home movers started at 5.04% on a 2-year fixed and 5.06% 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 7 October 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, and HSBC's current pricing makes the question a live one: after the 23 September rise, 5-year money costs two basis points more than 2-year money at 60% LTV and five basis points more at 75% LTV, while at 90% LTV the 5-year is five basis points cheaper, so long-term certainty now carries a small premium at the lower bands. 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 raising its residential and buy to let ranges three times in September, from 7 September, 15 September and 23 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.