"LOOONNG story short" So pleased you didn't give us the LOOONNG version. :confused:

Good deal for those of you like me who are risk averse.
Here's an idea some of you may wish to consider based on my recent experience: I applied for the Coventry 2.39% (but 50% LTV so may not suit everyone) deal back in September, didnt put a penny down (you add the £999 application fee to the mortgage term to achieve this) got my mortgage promise, which I can exercise anytime up until December... So basically a 3 month free hedge bet and of course you are free to check the market again (eg December) to see what's happening before pulling the trigger. Little bit of effort involved in applying but for me was worth it. Happy rate hunting all!

Has this been pulled?

nice find

​That was the long version :smiley: I was just recapping the long story at the end :smile:

HSBC whilst offer the lowest rates are absolutely awful to deal with regarding mortgages. Slowest bank ever.

They are the cheapest for a reason.

unlikely they will charge an early redemption for monthly overpayment (phone them to confirm, I did with N-wide) as it is usually perceived as a gradual reduction (which is preferable to the lender) rather than one large redemption.

Is it possible to only get a 10yr mortgage, therefore just pay 2.49℅ for the entire term?

I need a 10 to 12k mortgage to buy my place thats worth about 60k but the lowest the rbs will go is a 25k mortgage which is obviously too much, are there lenders out there that would give me a 10k loan instead of a mortgage (as again the rbs wont do that either)
Sorry if the above is a bit of a dumb question but I'm useless at all this financial stuff

Thanks

If you have 60% LTV or better and satisfy hsbc criteria then there is no better rate out than that I am aware of apart from their life time trackers of 1.74℅ (30+ years more or less depending on circumstances. 1.49% above base rate). Fee was £749. valuation was £190 I think. no exit fees, no early redemption fees, no over payment fees.

But hsbc can be a pain and pig headed to deal with. just needed 44% LTV but some idiot in hsbc underwriting dept, released my part exchange amount as builders incentive and refused to count the entire part exchange amount of £160,000 and only wanted to count my additional cash deposit for LTV calculations. Had to put a formal complaint in about the idiots in their underwriting department. Yes I called them idiots lacking basic maths competency in my official complaint. Had to also write to their social media teams to get this expedited and after enquiry they apologised to me and agreed that my calculations were correct entirely and their underwriting dept was wrong. Got 1.74% life time tracker and also apology and a small financial contribution as compensation for my troubles.

Mortgage was approved instantly at first meeting. initial meeting is usually a 90 months appointment at HSBC. they usually need a second 90 minute appointment after a week. but you can ask for a combined 3h appointment to do everything in one go. I want aware and had only booked 90 minutes appointment phone team booked only 90 minutes but managed to pester mortgage advisor to do it all in one day and after 3h 10 mins appointment mortgage was approved immediately. also got competitive home insurance 25% discount when done together. Same for term life insurance. Valuation appointment was done in under 3 hours. Valuation done in under 1 week. mortgage offer confirmed in a few more days and moving in a couple of weeks. I could have moved sooner but refused and asked for a week more as otherwise it would have been inconvenient for me. All done and dusted in under 1.5 months of seeing new home. Could have been sooner but delayed it by choice by one week.

LOOONNG story short, complain to HSBC management if HSBC underwriters are being a pain in the ****. Some Jokers at their underwriting dept need to be fired. I have already written to them about that. if more people do the same then some of them might actually get fired.

Am happy with my market leading rate and low fees and no other fees for early payment etc. Plus competitive home insurance and life insurance etc, don't forget the 25% discount when done together with mortgage. As always compare. In my case it was by far the cheapest option.

For part of my mortgage they allowed me to port my earlier rate of 1.24% life time tracker rate for my earlier mortgage without any additional fees for porting it.

Please note to avoid delays and referral to underwriting team, keep you mortgage duration lower than state retirement age. if longer then needs automatic referral to underwriting team causing further delays.

Initially underwriting team wanted additional £45,000 to be eligible for tracker life time mortgage due to them ignoring my part exchange amount from deposit calculations as they considered it a builder incentive! But after referring them in writing to their complaints department it got sorted with an apology and small compensation. I did later make an additional cash deposit but that was by choice and the complaint was to prove a point to their underwriting team who **** me off. My earlier life time tracker mortgage with HSBC was faultless and didn't encounter any idiots last time around. They can be picky but for those that qualify there can't be much better deals out there.

​it cost at least £750

Hsbc are notoriously hard to please, you need to be squeaky clean and dependencies better be covered by a healthy basic wage.

​actually , I may need a 10 to 20 thousand pounds mortgage are there anywhere that offer such mortgages

machester - middleton

I had a bad experience with them, and the customer service was shocking. Good deal, but be prepared for hassle if you have any issues.

it depends. I have been accepted for their remortgage of 5 year fixed at 1.89%. bad customer service at start having refused and abruptly closing my application. I threatened to close accounts and so far they are doing their best to fix things.

They have done away with all the booking fees and charges. That is nearly £1000.

They will also refund me for the extra I am paying whilst this goes through on the current mortgage with my lender. that again is a few thousand pounds and finally they will add some compensation for how me and the missus were treated. got it all in writing and since the compliant to cancel I have found them to be very efficient.

key is to keep a record as you go along making a note of where there are examples of why they are not Treating Customers Fairly. very big issue with the FCA.

Got a major home redevelopment in mind for 2017. Anyone have any links to a decent loan rate? Would be wanting to borrow around £80k over a 15 yr term.

I was lucky enough to go on the variable rate posted on this site @ 1.49 with hsbc plus base, a couple of years back with zero fees, no erc, free porting etc, but I did have less than 60% LTV. In the branch meeting, they required a min of 500 pm month to pass through one of their current accounts, so I said I'll pay my mortgage through it by via dd from Barclays, they reluctantly agreed but I had to get the branch manager involved as the advisor insisted it be my main account. The small print mentioned nothing of the sort, so the account approved. Saved thousands already :sunglasses:

Interesting, I've seen a few people with HSBC current accounts treated like crap, I only took the credit card as it was cheapest APR with 90% acceptance as building credit file for mortgage, their M&S bank are hopeless that my account after several errors remains unused.

Hi, it is almost exactly like your friends situation, rbs is who i bank with so naturally i went to them to sort it out but having read others i'm going to look around now

cheers

Thanks very much folks, plenty of decent advice offered to have a look through, much appreciated

I found HSBC difficult with my first mortgage. I went to them first as I'd banked with them my whole life but they offered me nearly half the amount other lenders would. Depends on your needs I suppose because if the amount they offered was enough to begin with I still might have used them

Fingers crossed, mine is 2.5 something at the moment.

there could be an even better fix by then?

Shame it's Oct 2017

My fixed HSBC expires next year, would they let you change to this? As existing customer...

Good deal for those of you like me who are risk averse.
Here's an idea some of you may wish to consider based on my recent experience: I applied for the Coventry 2.39% (but 50% LTV so may not suit everyone) deal back in September, didnt put a penny down (you add the £999 application fee to the mortgage term to achieve this) got my mortgage promise, which I can exercise anytime up until December... So basically a 3 month free hedge bet and of course you are free to check the market again (eg December) to see what's happening before pulling the trigger. Little bit of effort involved in applying but for me was worth it. Happy rate hunting all!

was typing too fast, yes I have an offset mortgage

i'm on santander lifetime tracker at 2% above base rate, just decreased to 2.5%. i can leave it whenever i want with no penalties whatsoever, so if interest rates go up in future i can go onto a fixed rate mortgage at any time. If interest rates stay low, I'll stay put as long as its financially sensible (and its interest-only). Banks can never chuck you off lifetime trackers even if you're paying interest-only mortgage payments and not repayments. Banks are going to start getting rid of interest-only mortgages to lessen their risk of lower-income mortgage payees.

Just remember the early repayment charges for a deal like this. You have to be sure your circumstances and jobs are stable over 10 years.

other providers will follow suit. the pound had Wakefield me

Wow need to check the LTV we have, a fixed fee for the next 10 years, to me means no worries about changes in interest rate.

any penalties?

if you can afford the repayments, yes.