HSBC Remortgage Rates:
Is the 90-Day Switch the Price to Beat?

Every product in the table carries a free standard valuation and a choice of standard legal fees paid by HSBC or £300 cashback, at the same rate either way. The legal package covers the legal processing fee, searches, Land Registry fees and the telegraphic transfer fee. Fixed rates allow overpayments of up to 10% a year without a charge. Above that, the early repayment charge is 1% of the excess for each remaining year of the fixed period, reducing daily, to a maximum of 5%. The remortgage range stops at 90% LTV and the maximum loan is £2,000,000 to 85% LTV and £750,000 at 90%.

HSBC also prices a 2-year term tracker for remortgage, from 4.22% at 60% LTV with a £999 fee. That is 0.87 points below the equivalent 2-year fix, worth about £124 a month on a £250,000 loan over 25 years, but the rate moves with Bank Rate and HSBC does not publish the tracker margin on its rate page. HSBC charges no early repayment charge on its trackers and allows unlimited overpayments on them. Our fixed or tracker mortgages analysis weighs that gap against the certainty a fix buys.

HSBC product transfer rates: the existing customer switch range

HSBC calls its product transfer a rate switch and publishes the existing customer range on a public page. At our 7 October 2026 check the 2-year fix with a £999 fee starts at 4.69% and the 5-year at 4.78% at 60% LTV, against 5.09% and 5.11% for a borrower remortgaging in.

The switch range runs from 4.69% to 5.24% on the 2-year £999 fix and from 4.78% to 5.24% on the 5-year, from 60% to 90% LTV, with fee-free versions from 4.94% and 4.89%. It also carries 3-year and 10-year fixes the remortgage table does not, a 95% LTV tier on fee-free products only, and a 2-year tracker from 4.15%. Switch rates sit below the remortgage rate at every band HSBC publishes, by 0.40 points on the 2-year Standard at 60% LTV and 0.47 points at 75%. A switch carries no cashback or legal fee incentive, because none of that work is needed.

An existing customer can book a new rate up to 90 days before the current one ends. HSBC runs no credit check or full application on a like-for-like switch, values the home from the House Price Index rather than a surveyor, and needs no solicitor. HSBC says an online switch can take as little as 10 minutes, though a balance above 90% LTV, a property on consent to let or a Mortgage Charter interest-only arrangement means a call. Changing the term or borrowing more at the same time needs a new credit-scored application. Our product transfer mortgage guide explains when a like-for-like switch beats a full application.

Is an HSBC switch better than remortgaging elsewhere?

For most existing HSBC borrowers the switch range is the price to beat, because it sits below HSBC's own remortgage table at every band and needs no valuation, legal work or credit check. Remortgaging elsewhere wins when another lender prices your LTV band lower, when you need to borrow more, or when a new valuation moves you down a band.

The gap is worth real money. On a £250,000 balance over 25 years, the 4.69% 2-year switch costs about £1,417 a month against £1,475 on the 5.09% remortgage fix, around £58 a month or £1,390 over the two years. On the 5-year at 60% LTV the gap is 0.33 points, about £48 a month or £2,876 over five years. A competing lender has to beat the switch rate, not HSBC's remortgage table, once fees, legal costs and any cashback are counted on both sides. Our remortgage calculator runs the break-even month for any two deals.

Where moving lender wins is on the LTV bands and on criteria. HSBC's 2-year £999 switch steps from 4.69% at 60% LTV to 4.79% at 75% and then to 5.06% at 80%, a jump of 0.27 points and the biggest step in the range. HSBC values a switch from the House Price Index, so a borrower just above 75% gains most from a lender whose surveyor values the home higher and places the loan in a lower band. Our LTV calculator shows which band a current valuation lands in.

To see HSBC's published switch range and a whole of market remortgage costed side by side on your own balance, call 01202 155992 or contact Mortgage One.

Which HSBC remortgage deals have the lowest total cost?

At our 7 October 2026 check, the £999 fee 2-year fix beats the fee-free Fee Saver once the loan passes roughly £190,000 at 60% LTV, and the £999 fee 5-year fix does so from about £141,000. At 75% LTV those break-even points rise to about £259,000 and £156,000.

The gaps explain it. The fee-free 2-year fix sits 0.37 points above the £999 product at 60% LTV, worth about £33 a month on £150,000, or £787 over the two years, short of the fee. On the 5-year the gap is 0.20 points but the saving runs for five years, which is why the break-even loan is lower. At 75% LTV the 2-year gap narrows to 0.27 points and the 5-year gap to 0.18 points, so the fee needs a larger loan to repay itself. At 90% LTV the 5-year £999 fix pays back from about £155,000.

A booking fee added to the loan rather than paid up front accrues interest for the whole term, so £999 costs more than £999 by the time the mortgage is cleared. A borrower planning overpayments within HSBC's 10% a year allowance gains more by paying the fee up front where the budget allows. The £300 cashback alternative to paid legal fees also counts in the total, and our remortgaging guide sets out the full cost comparison, including fees, valuation, legals and the early repayment charge on the old deal.

Free legals, £300 cashback and the HSBC remortgage process

A remortgage to HSBC comes with a free standard valuation and a choice of standard legal fees paid by HSBC through a solicitor it appoints, or £300 cashback. HSBC says remortgaging typically takes 4 to 8 weeks from application, and its Decision in Principle takes about 5 minutes with no effect on a credit score.

A borrower who prefers a chosen solicitor or licensed conveyancer can use one that meets HSBC's criteria and acts for both sides, and any non-standard legal work is payable by the customer. HSBC says a new deal can be locked in when the current rate ends within six months. The online Decision in Principle is for UK residents with income only in sterling on a main residence and a term of 35 years or less, and it excludes borrowing more for the current property.

An online remortgage application is not available where debts are being consolidated, self-employed income is used, the term runs past retirement or age 70, or total borrowing on one property exceeds £2 million. Those cases go through an HSBC adviser. HSBC accepts debt consolidation as a reason to borrow more but does not publish its LTV limit for it. Those routes and the 90% cap on the remortgage table decide whether a capital-raising case belongs with HSBC or with another lender.

What a lapsed HSBC deal costs on the 6.24% variable rate

An HSBC deal left to lapse moves onto its Standard Variable Rate, 6.24% in every product row. On a £250,000 repayment mortgage over 25 years that is about £1,648 a month against £1,475 on the 5.09% 2-year remortgage fix, a gap of £173 a month, so under six months on the variable rate costs more than a £999 booking fee.

HSBC's rate pages carry a conflict. Every product row and the representative example use 6.24%, while a separate paragraph on the same pages still quotes a standard variable rate of 6.49% effective from 29 August 2025. At 6.49% the same loan costs about £1,686 a month, £212 more than the 2-year remortgage fix. Either way the gap is the case for acting inside the 90-day window. A borrower on the variable rate or a tracker can switch with no early repayment charge, and our standard variable rate chart shows where lender reversion rates sit across the market.

If you are weighing a 2-year against a 5-year, HSBC prices the 5-year remortgage fix below the 2-year with the £999 fee at 75%, 85% and 90% LTV and 0.02 points above it at 60%, and our comparison of 2-year and 5-year fixed deals works through the choice on total cost. Our UK mortgage rates today page tracks where the other big lenders sit this week.

Bank Rate stands at 3.75% after the Bank of England held on 17 September 2026, and the next decision is due on 5 November 2026. Fixed pricing moves on swap rates rather than waiting for Bank Rate, and every fix in the table ends on 31 January 2029 or 31 January 2032. Our UK interest rate projection tracks the market-implied path a borrower would remortgage into at that point.

Figures as of 7 October 2026, London.

If your HSBC deal ends within the next six months and you want the switch weighed against a move to another lender, 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 remortgage rates?

At our 7 October 2026 check HSBC's remortgage fixed rates for borrowers moving from another lender ran from 5.09% on the 2-year £999 fee product at 60% LTV to 5.89% on the fee-free 2-year at 90% LTV, with 5-year fixes from 5.11% to 5.59%. The 2-year tracker started at 4.22%.

2. Are HSBC mortgage rates going down?

Not at our 7 October 2026 check. HSBC raised its residential ranges from 7, 15 and 23 September 2026, and its moving-home 2-year Standard fix at 60% LTV rose from 4.49% on 1 September to 5.04% by 30 September. Our 7 October check is the first dated reading of its remortgage range, so there is no remortgage history to compare yet.

3. Should I fix for 2 or 5 years with HSBC?

The rates sit close together, so flexibility usually decides it. With the £999 fee the 5-year remortgage fix is 0.02 points above the 2-year at 60% LTV and 0.19 points below it at 90%. The early repayment charge is 1% for each remaining year of the fix, so leaving a 5-year early costs more.

4. What are HSBC product transfer rates for existing customers?

HSBC publishes its rate switch range openly. At our 7 October 2026 check the 2-year fix with a £999 fee started at 4.69% and the 5-year at 4.78% at 60% LTV, with fee-free versions from 4.94% and 4.89%. Switch rates sat below HSBC's remortgage rates at every published band.

5. When can I switch my HSBC mortgage deal?

HSBC lets an existing customer book a new rate up to 90 days before the current one ends, with no credit check on a like-for-like switch. Switching earlier from a fix triggers the early repayment charge. Customers on the Standard Variable Rate or a tracker can switch at any time with no charge.

6. Does HSBC pay legal fees on a remortgage?

Yes, on a standard remortgage HSBC appoints a solicitor and covers the standard legal fees, including searches, Land Registry fees and the telegraphic transfer fee. The alternative is £300 cashback at the same rate. Every remortgage product also includes a free standard valuation, while non-standard legal work is at your own cost.

7. What happens if I do nothing when my HSBC deal ends?

HSBC moves you onto its Standard Variable Rate, shown as 6.24% in its product rows at our 7 October 2026 check. On a £250,000 repayment mortgage over 25 years that is about £173 a month more than the 5.09% 2-year remortgage fix. There is no early repayment charge on the variable rate.

8. Do I need a broker to remortgage with HSBC?

No, HSBC takes switches and remortgage applications directly, but its rates only compare HSBC with HSBC. A broker prices the same balance across the whole of market, checks whether the HSBC switch or a remortgage elsewhere costs less over the fixed period, and places the case where it fits. Mortgage One runs that comparison on every HSBC case before a switch or application is submitted.