The First two-year discount mortgage will priced at 0.95 per centime below HSBC's standard variable charge (SVR) from early February, when its SVR module be lowered to an all time low of 3.94 per cent.
In acquisition, the bank is back in the market with tracker products for loans of 75 give-to-value (LTV) and has pledged to double its 2007 even of mortgage lending this year by making &poet;15bn available to customers.
The 2.99 per cent two-gathering special discount mortgage is available for a 60 per centime LTV and comes with a fee of £999.
There is also a primary two-year fixed mortgage rate of 3.99 per coin up to 60 per cent LTV and with a fee of £999.
The new lifespan tracker, with a fee of £599, has a charge of 4.09 per cent for 75 per cent LTV, and a charge of 4.39 per cent without the fee.
Martijn van der Heijden, psyche of mortgages at HSBC said: "As the Bank of England alkali rate comes down, we have the cognition to increase even further the affordability of our mortgages, some of which were already the cheapest to be open on the high street.
"Together with our dedication to double 2007 mortgage lending to &poet;15bn this year, we hope that this new arrange will demonstrate that those who poverty a mortgage can get one, and at sensible rates."
Elsewhere, Abbey has declared it has cut the rates on its fixed and tracker products from today (14 Jan).
The Santander-owned lender said it was dilution rates by up to 0.3 percentage points on its two, tierce and five-year fixed rate mortgages, with rates turn at 3.99 per cent.
The new fixed rates allow a two-year fixed rate of 3.99 per coin with a £995 fee for 60 per coin LTV, and a three-year fixed rate of 4.39 per coin with a £995 fee for 60 per coin LTV.
Remortgage customers are offered a five-year concentrated rate of 4.99 per cent with a &author;995 fee for 75 per cent LTV, or with no fee in arm and by telephone for a limited offer period.
To aid first-time buyers and those active home, Abbey has removed the fee on its five-assemblage fixed rate 75 per cent LTV mortgage at 5.09 per coin.
In addition, Abbey is also reducing its two-assemblage trackers to 3.69 per cent with a &writer;1,995 fee for 60 per cent LTV, 3.89 per coin with a £995 fee for 60 per centime LTV and 4.04 per cent with a £1,499 fee at 75 per centime LTV.
