HSBC joins mortgage rate-cutting war with deals below 4%

Five- and 10-year fixed-rate remortgages announced as lenders big and small reduce rates

HSBC has become the latest big UK lender to announce across-the-board mortgage interest rate cuts, with leading names announcing reductions of up to one percentage point.

The bank's new deals announced on Wednesday include a headline-grabbing five-year fixed remortgage deal of 3.94% for those borrowing up to 60% of the property value.