article_snippet.sent: The offer from one of the country’s biggest mortgage lenders – HSBC is consistently in the top five – launches on Monday and is expected to trigger a flood of rate cuts by other banks and building societies.
article_snippet.sent: Fifteen lenders had already cut rates across Fifteen lenders ranges in the past week, but more are likely to follow now HSBC has set a new benchmark.
article_snippet.sent: Brokers said lenders appeared to be slashing rates ready for the ‘spring mortgage spree’ when many families move or remortgage.
article_snippet.sent: HSBC already had one of the lowest five-year fixes on the market at 2.19 per cent, but decided to under-cut HSBC to try to steal more customers from TSB.
article_snippet.sent: With the HSBC rate cut from 2.19 per cent to 1.99 per cent, a homeowner borrowing £200,000 over a 25-year term would save more than £1,100 during the five-year deal.
article_snippet.sent: Brokers said that the HSBC 1.99 per cent offer was likely to be on the market for at least a week, if not several, depending on the demand.
highlights_snippet.sent: HSBC have now announced 1.99% interest deal on a five-year fix mortgage .
  
highlights_snippet.sent: Offer expected to spark flood of rate cuts by banks and building societies .
  