Two major high-street lenders have trimmed mortgage pricing this week. HSBC and TSB both announced cuts across purchase, remortgage, and buy-to-let (BTL) products, continuing a run of downward rate movement in the market.
What HSBC has changed
According to Mortgage Solutions (10 June 2026), HSBC reduced mortgage rates by as much as 0.11% on selected deals, with changes taking effect on 10 June 2026.
For first-time buyers, the fee-free two-year fix (a product with no arrangement fee) at 60% loan to value (LTV) - the ratio of the loan to the property's value - fell by 0.07% to 4.78%. That deal carries £250 cashback, rising to £600 for energy-efficient homes.
At 85% LTV, the fee-free two-year fix dropped by 0.09% to 4.93%, with £350 cashback (or £700 for energy-efficient homes).
The two-year tracker (a rate that moves in line with the Bank of England base rate) at 90% LTV with a £999 fee was cut by 0.08% to 4.71%.
On purchase deals, the two-year fix at 90% LTV with a £999 fee fell by 0.1% to 4.81%. The fee-free version was reduced by 0.11% to 5.06%.
HSBC also lowered selected two- and five-year fixed and tracker BTL rates. This follows a further round of rate reductions the bank made the previous week.
If you want to stress-test a BTL deal against these new numbers, the Property Filter stress test calculator handles interest coverage ratio (ICR) checks quickly.
What TSB has changed
According to Mortgage Solutions (10 June 2026), TSB cut two-year fixed purchase rates by as much as 0.1% and five-year fixes by up to 0.15%.
On remortgage products, the moves were sharper. Two-year fixed remortgages up to 75% LTV fell by up to 0.2%, while three-year fixed alternatives dropped by as much as 0.25%. Five-year fixed remortgages also came down by up to 0.25%.
For BTL and portfolio BTL (mortgages for landlords with four or more properties), two- and five-year fixed purchase and remortgage rates up to 75% LTV were cut by 0.1%.
Residential product transfer rates (the rates available when switching to a new deal with your existing lender) on two-, three- and five-year fixes up to 75% LTV also fell by 0.1%, as did additional borrowing rates across the same terms.
If you are weighing a remortgage against a product transfer, the guides at Property Filter's negotiation and finance blog cover the trade-offs in plain terms.
Key takeaways
• HSBC cut rates by up to 0.11% across purchase, remortgage, and BTL products, effective 10 June 2026
• TSB reduced remortgage rates by up to 0.25% on three- and five-year fixes
• TSB BTL purchase and remortgage rates up to 75% LTV fell by 0.1%
• Both lenders also reduced product transfer rates, benefiting borrowers already on their books
• A 0.1% rate cut on a £150,000 interest-only BTL mortgage saves approximately £12-£13 per month
