Full list of HSBC changes affecting millions today | Personal Finance | Finance
HSBC has announced that millions of its customers will experience a significant change from today (January 5). The banking behemoth has unveiled a series of new changes to commence the first full working week of the year.
The most notable of these is the confirmation that its rates will decrease by as much as 0.10% for certain eligible customer deals. The bank, which caters to 14.5 million customers, has released updated rates for a broad range of its mortgage deals, including its Remortgage, Home Mover, First Time Buyer Mortgage, and Switcher.
This follows Nationwide’s report that UK house prices unexpectedly fell throughout December. The mortgage lender pointed out that the average property price dropped by 0.4% to £271,068 compared to prices in November.
Oliemata O’Donoghue, Head of Mortgages at HSBC UK: “The reduction in mortgage rates is a real boost for borrowers, offering greater affordability and flexibility in today’s housing market. At HSBC UK, we’re focused on making it easier for customers to move, remortgage, buy their first home and plan for the future.”
Full list of rate changes taking place
The following mortgage rate changes will take place across HSBC’s products:
Remortgage
- 2 year 60% LTV £999 fee at 3.69% down by 0.02%
- 2 year PREMIER 60% LTV £999 fee at 3.66% by 0.02%
- 5 year 75% LTV £999 fee at 3.84% down by 0.11%
- 5 year 75% LTV no fee at 3.99% down by 0.10%
These new rates follow closely on the heels of HSBC’s ‘branch promise’ to keep its 327 physical bank branches open until at least 2027. The bank also announced plans to increase investment in its branch network by 30% in 2026, rising from £42 million spent in 2025 to an expected £55.8 million this year.
Sally Williams, head of the branch network at HSBC UK, stated: “We are investing heavily into our physical network so that we can continue to service our customers, including those with more complex needs who value in-person interaction for those moments that matter.”
Christopher Dean, managing director of wealth, premier and personal banking at HSBC UK, commented: “This latest announcement shows our commitment to the millions of customers who choose to visit a branch each year. Extending our branch promise until at least 2027 reinforces our long-term commitment to local communities and the high street.”
