HSBC to decrease standard mortgage rate by 0.25%

HSBC Bank plc has announced it will reduce its HSBC variable mortgage rate by 0.25% from the 24th December 2007.

Following the Bank of England Monetary Policy Committee’s decision to decrease its base rate earlier this month, HSBC’s new rate falls from 7.00% to 6.75%.

HSBC tracker mortgage rates decreased by 0.25% on 7th December 2007 immediately following the Bank of England’s decision.

The HSBC variable mortgage rate is at least 0.24% lower than all of the following large high street lenders: Halifax, Nationwide, Abbey, Lloyds TSB and Natwest.