HSBC are tighter than others (such as Barclays) when it comes to affordability. Just a word of warning that many who think they can get this deal won't make it past the affordability checks.
dinosteveus to lending900
9 Oct 163#22
Ask Google, it's your friend.
All comments (112)
Stags
9 Oct 1611#1
looks a good deal depending
on your own financial situation
mse have a useful tool to compare mortgages and it factors in the cost of the fee. It may be of help.
trust HSBC to reduce their rates first. now waiting on nationwide to follow suit, hopefully tomorrow
DealJourno to cikki100
9 Oct 16#3
Nationwide normally change their rates on a Tuesday.
iskillz
9 Oct 161#4
My 2 year deal ends next August, which was pretty good in the first place as I am an HSBC Advanced customer. A 5 year deal at this rate is tempting though. Hoping the low rates hold over the next few months. I assume I can renew 3 months before the precious deal expires?
crazy_b to iskillz
9 Oct 16#27
You are joking!! The next few months. Rates will not go up until after the 2 years article 50. That's 2 years from early next year earliest imo. Get the cheapest dea u can now like a 2 year deal then after that go for 5 year one. Rates are not going up only down
lbeedee21
9 Oct 162#5
With HSBC mortgages you can switch anytime - and if your an advanced customer nearly all the products I've seen are zero charge for erc and overpayments. I hit 60% Ltv last week
pollarj to lbeedee21
9 Oct 161#10
i am on a fixed and can't seem to find any details on this. are you saying if I have 2 years left on a fixed they will let me switch to another product and not have to pay the erc of the fixed period? is this an unwritten thing and you have to ask?
iskillz
9 Oct 161#6
Useful to know, but I will hold back for now as the 2 year deal I currently have is actually really good. I'm job hunting at the moment too, so not sure how long I'll be able to hold on to the Advance account as I believe one of the rules for having such an account is to be depositing over £1750 a month in DD's to the account?
adi0604
9 Oct 161#7
LTV is according the banks Survey i.e. What would they get in auction in other words 20-30K less than actual market value.
DominicPTS to adi0604
9 Oct 161#13
Not sure this is right. We had ours valued by an estate agent and it was what we thought it was, based on local market. When we remortgaged the broker advised us to value it at that. The valuer did come in and did quite a thorough look around and they accepted that value. There is no way we were even 10% under the market value let alone 30% and we were stretching the LTV conditions for the mortgage.
kristmace to adi0604
9 Oct 16#38
Not always. I've taken out a mortgage twice with HSBC in the last 2 years (a remortgage and then a purchase) and the surveyor agreed with the market value we gave them both times.
sprite127594
9 Oct 162#8
At the moment were on nationwides SBR @ 2.25% . I like the thought of no charges for over payments but we never seem to.
I take it 2.25 is not that great these days?
delusion to sprite127594
9 Oct 16#25
I went with santander as I wanted zero Erc. 0.89% above base rate and 1% cashback on mortgage payments. Was definitely the best option for me (on a 2 year with 999 fee).
iskillz
9 Oct 16#9
Just had a look on their website and they have a 2 year fixed rate at 1.09%, 749 booking fee for Advance customers who have existing mortgages with HSBC. I will be all over that once I find a job. I believe I currently pay 1.49%.
Opening post
There is also an option at 1.99% with no booking fee.
Top comments
on your own financial situation
mse have a useful tool to compare mortgages and it factors in the cost of the fee. It may be of help.
http://www.moneysavingexpert.com/mortgages/compare-mortgage-rates
All comments (112)
on your own financial situation
mse have a useful tool to compare mortgages and it factors in the cost of the fee. It may be of help.
http://www.moneysavingexpert.com/mortgages/compare-mortgage-rates
I take it 2.25 is not that great these days?