HSBC cuts mortgage rates as Foundation and Leek raise specialist deals up to 17bps

HSBC will lower rates across its residential and buy-to-let ranges on 8 May, while Foundation, Leek Building Society, Vida and Interbay are repricing on the same day, with Leek raising holiday-let fixes by up to 17bps and limited-company buy-to-let by up to 15bps. Lenders are not moving in lockstep: mainstream residential pricing is softening, while specialist landlord products are hardening as funding costs and risk views diverge across ranges. For mainstream residential buyers the direction of travel is still mildly favourable, so a short pause to reshop a quote can be worthwhile; for landlords looking at holiday-let or limited-company structures, the window for current pricing closes today. This is product-by-product repricing rather than a coordinated direction shift, and swap rates plus the next MPC meeting on 18 June will set the broader path.