HSBC becomes first big UK lender to cut its mortgage rates in 2026

Reduction follows Bank of England's base cut in December, with further cuts expected this year

HSBC has become the first major lender to cut mortgage rates this year, a move that could spark a price war over the coming months.

The banking group, which is one of the UK's largest mortgage lenders, has cut rates across a range of residential and landlord buy-to-let mortgage products. The new rates come into effect on Monday.