Mortgage Rates
HSBC Cuts 5-year fixed Rates but Raises 5-year fixed Deals
HSBC mortgage rates changed across 11 tracked product rows. The largest movement was 51 basis points on a 5-year fixed First Time Buyer - Energy Efficient rate at 85% LTV.
Summary of the change
Rates observed 2026-09-28: Mortgage rates may have changed since this article was published. View the latest rates on the relevant lender page or mortgage comparison.
HSBC changed 27 tracked mortgage terms in its 2026-09-28 update. The largest movement affected the 5-year fixed rate on First Time Buyer - Energy Efficient at 85% LTV: it rose from 5.38% to 5.89%, a 51 basis-point increase.
That headline movement applies to the identified first-time buyer product, not automatically to every HSBC mortgage. RateWatch separates each borrower category, fixed or tracker term, LTV band and fee so the update remains a dated factual record rather than a lender-wide generalisation.
Old rates, new rates and fees
| Borrower type | Product | Term | LTV | Previous | New | Movement | Fee |
|---|---|---|---|---|---|---|---|
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 85% | 5.38% | 5.89% | +51bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 95% | 5.89% | 5.38% | -51bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 85% | 5.49% | 5.96% | +47bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 95% | 5.96% | 5.49% | -47bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 95% | 4.87% | 5.29% | +42bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 95% | 4.87% | 5.27% | +40bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | tracker | 75% | 4.27% | 4.50% | +23bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | tracker | 80% | 4.50% | 4.27% | -23bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 60% | 5.19% | 5.34% | +15bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 70% | 5.34% | 5.19% | -15bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 60% | 5.09% | 5.23% | +14bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 70% | 5.23% | 5.09% | -14bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | tracker | 60% | 4.15% | 4.27% | +12bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | tracker | 70% | 4.27% | 4.15% | -12bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | tracker | 95% | 4.40% | 4.50% | +10bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 60% | 5.14% | 5.22% | +8bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 70% | 5.22% | 5.14% | -8bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 75% | 5.41% | 5.49% | +8bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 80% | 5.49% | 5.41% | -8bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 75% | 5.22% | 5.29% | +7bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 80% | 5.29% | 5.22% | -7bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 60% | 5.36% | 5.41% | +5bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 2-year fixed | 70% | 5.41% | 5.36% | -5bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 75% | 5.23% | 5.27% | +4bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 75% | 5.34% | 5.38% | +4bps | £0 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 80% | 5.27% | 5.23% | -4bps | £999 fee |
| First-time buyer | First Time Buyer - Energy Efficient | 5-year fixed | 80% | 5.38% | 5.34% | -4bps | £0 fee |
Estimated payment effect
On an illustrative £250,000 capital-and-interest repayment mortgage over 25 years, the change from 5.38% to 5.89% changes the estimated monthly repayment from £1517.35 to £1593.99. That is an increase of £76.63 per month.
This calculation uses monthly repayments and assumes the stated rate applies throughout the illustration. It excludes arrangement fees, incentives, valuation costs, legal costs, insurance, early-repayment charges and individual affordability or eligibility decisions. It is an illustration of the rate movement, not a mortgage quote or advice.
Comparison on matching product terms
First Time Buyer - Energy Efficient, 85% LTV 5-year fixed
| Lender | Product | LTV | Term | Rate | Fee | Observed |
|---|---|---|---|---|---|---|
| Halifax | First Time Buyer | 85% | 5-year fixed | 5.10% | £0 fee | 2026-09-25 |
| Lloyds | First Time Buyer | 85% | 5-year fixed | 5.10% | £0 fee | 2026-09-25 |
| HSBC | First Time Buyer - Residential | 85% | 5-year fixed | 5.38% | £0 fee | 2026-09-28 |
| Santander | First Time Buyer | 85% | 5-year fixed | 5.40% | £0 fee | 2026-09-23 |
| Leeds Building Society | First Time Buyer | 85% | 5-year fixed | 5.47% | £0 fee | 2026-09-24 |
| HSBC | First Time Buyer - Energy Efficient | 85% | 5-year fixed | 5.89% | £0 fee | 2026-09-28 |
These rows keep borrower purpose, LTV and changed term aligned. Fees remain visible because a lower rate does not by itself establish a lower total cost.
First Time Buyer - Energy Efficient, 95% LTV 5-year fixed
| Lender | Product | LTV | Term | Rate | Fee | Observed |
|---|---|---|---|---|---|---|
| HSBC | First Time Buyer - Energy Efficient | 95% | 5-year fixed | 5.38% | £0 fee | 2026-09-28 |
| Nationwide | First Time Buyers | 95% | 5-year fixed | 5.64% | £0 fee | 2026-09-15 |
| Halifax | First Time Buyer | 95% | 5-year fixed | 5.67% | £0 fee | 2026-09-25 |
| Lloyds | First Time Buyer | 95% | 5-year fixed | 5.67% | £0 fee | 2026-09-25 |
| Leeds Building Society | First Time Buyer | 95% | 5-year fixed | 5.77% | £0 fee | 2026-09-24 |
| HSBC | First Time Buyer - Residential | 95% | 5-year fixed | 5.89% | £0 fee | 2026-09-28 |
| Santander | First Time Buyer | 95% | 5-year fixed | 5.90% | £0 fee | 2026-09-23 |
These rows keep borrower purpose, LTV and changed term aligned. Fees remain visible because a lower rate does not by itself establish a lower total cost.
First Time Buyer - Energy Efficient, 85% LTV 2-year fixed
A supported like-for-like comparison was unavailable at generation time. RateWatch therefore does not substitute a different borrower type, term or LTV and makes no ranking claim for this product.
Borrower considerations
The affected borrowers depend on the product rows below. A 85% LTV product generally requires at least 15% equity or deposit, subject to lender criteria. Someone comparing this update should keep the borrower purpose (first-time buyer), 5-year fixed term, 85% LTV and fee structure aligned.
The largest basis-point movement is useful as a concise description of the update, but it does not replace a product-level comparison. A smaller movement on another row may be more relevant to a particular borrower, while a fee difference can outweigh a modest headline-rate difference over an initial deal period.
The source observations support the figures shown here. They do not establish why HSBC made the change, and this article does not attribute the movement to a market event or policy decision without lender evidence.
Methodology and limitations
RateWatch produced this article from 11 lender product rows carrying 27 supported term-level changes. This calculation method requires both a previous and a current numeric rate. The basis-point calculation is performed in application code by subtracting the old percentage rate from the new percentage rate and multiplying the difference by 100; generated prose is not allowed to invent that figure.
The comparison data is filtered by borrower category, LTV, term and fee tier before it is shown. Rows that do not satisfy those conditions are omitted rather than used to support a broader claim. RateWatch does not infer why HSBC changed its pricing and does not make comparative superlative or ranking claims. The source date remains attached to this historical report so later lender changes are not silently written back into it.
Readers should verify current availability, lending criteria and the total cost of a product before acting. The live lender and comparison pages are the appropriate place to check newer observations; this article preserves the change recorded on 2026-09-28.
Frequently Asked Questions
How much did HSBC change its mortgage rates?
The largest movement in this update was 51 basis points. The affected 5-year fixed first-time buyer rate at 85% LTV increased from 5.38% to 5.89%.
Which HSBC mortgage changed the most?
First Time Buyer - Energy Efficient at 85% LTV recorded the largest movement, affecting its 5-year fixed rate. Other products in the update may have moved by different amounts.
Did every HSBC 5-year fixed rate at 85% LTV change by 51bps?
No. RateWatch detected 27 term-level movements across 11 tracked product rows. The table in this article lists each supported old-to-new movement separately.
When was the HSBC First Time Buyer - Energy Efficient change observed?
The rates in this article were observed for the lender update dated 2026-09-28. They are a historical snapshot and may no longer be the rates currently available.
Where can I check the latest HSBC First Time Buyer - Energy Efficient rates?
Use the linked RateWatch lender page or mortgage comparison to check the most recently captured rates, keeping the borrower category, term, LTV and fee aligned.