Some major mortgage lenders have cut their rates in a move that may help borrowers searching for a new deal. HSBC UK reduced more than 140 mortgage rates on Friday, following a review of its deals. Barclays has also reduced rates on a selection of products, including loans for home buyers and homeowners looking to remortgage. HSBC said new business residential rates have been cut by up to 0.18 percentage points, and for homeowners who already have a mortgage with the bank and are looking to get a new fixed deal, rates have been cut by up to 0.11 percentage points. An HSBC UK spokesperson said: “There are a number of factors that are taken into account when setting mortgage rates, and following a review, we are reducing over 140 mortgage rates by up to 0.18 (percentage points). We continue to keep our rates under review.” HSBC’s new deals include a two-year mortgage for home buyers with a 10% deposit and no fee with a rate of 5.57%, reduced by 0.11 percentage points. The Barclays range now includes a five-year fixed-rate for home buyers at 4.44%, down from 4.73% previously, for people with a 25% deposit. The deal has a...