HSBC has announced a series of rate changes across its mortgages after the Halifax and the Leeds building societies introduced reductions.

The high street giant is reducing interest rates on fixed rate deals running for two, five and 10 years.

The scale of the reductions, which will come into effect from Monday, have not yet been revealed. However, it is likely they will be swiftly followed by cuts from rivals.

Earlier this week, the Halifax made interest rate cuts of up to 35 basis points,…