Good deal, but you'll have paid off your existing mortgage by the time HSBC get around to transferring you.

It's easier to wrestle a pasty off a tramp than it is to get a financial product from these clowns.

Cold, bring the house prices down !

How does high house prices make this a cold deal? (_ :wink:

Rates have been up and down at the minute with HSBC, we managed to secure 1.99% fixed for five years (60% ltv) with no fee earlier this year just before they started going up, now it's 1.94%. But like the deals now, even on a £90k mortgage it still worked out cheaper going with the fee free rate over 5 years than paying £749/£999 booking fee. I guess if you want to borrow over £100k it might be worth looking at the deals with booking fees.

And for those complaining how tough it is to get a mortgage with HSBC, we sat with a mortgage advisor for about 2 hours, gave him all our income and outgoings and once he was happy we could afford the mortgage it was approved in principle there and then and signed the paperwork the week after. Isn't that the way it should be done, mortgage providers checking you can afford the mortgage amount you're looking to borrow?

good deal

Excellent deal. :wink:

Looks interesting.

Link to all of their mortgage deals - https://www.hsbc.co.uk/1/2/mortgages/mortgage-rates

absolute scum bank. A lot of solicitors won't deal with them because of how awkward they make getting a mortgage.

interesting ive been holding out and over paying my mortgage over the last two years. 1.69% is a very good rate

Good deal, but you'll have paid off your existing mortgage by the time HSBC get around to transferring you.

It's easier to wrestle a pasty off a tramp than it is to get a financial product from these clowns.

Shame I'm only half way through my 2.99% deal. Would be very tempted to investigate deal otherwise. Heat added.

Cold, bring the house prices down !

Decent offer but got Atom 1.29% 5y fix deal confirmed today :wink:

Sorry if this is slightly off topic. But has anybody ever found that having the credit card of a particular lender got them a more favourable rate when remortgaging? I'm thinking of getting the Halifax 30 month purchase card. Only that my mortgage is with Santander, who offer a 0% 27 month card, I'd be tempted to go with them if i thought it might get me a better deal next year when my mortgage's fixed term is up.

From my experience HSBC have probably got the toughest mortgage application process going. It is how banking should be but they can show you the door at the initial stage!

I was renewing my 2 year deal with them the other day and it actually worked out better to take the 2 year fee saver at 1.54% over the 2 year Advanced/Premier rate at 1.14% with £749 fee. You only really profit if you take a 3 or 5 year deal it seems.

Assuming you're not looking to spread the fee across the mortgage. I prefer not to stump up the fee upfront these days. Need the cash for home improvements.

I recently remortgaged within HSBC from an old pre-existing 5 year deal with 1 year left to a 5 year fixed at 1.79% with 60% LTV and no booking fee. This was an open offer in about January. Surely the offer posted here is worse because of the booking fee? So much for price war...

Tory party puppet masters. Cold.

Personally I thought their mortgage team was fine. We got the 2 year 1.69 on 75% a month ago. We knew the exact product we wanted, so applied online instead of using a mortgage advisor. It took about 6 weeks, the norm according to my research and discussions with several lenders. Yes, they were very thorough, but I didn't consider it to be excessively intrusive, and their underwriters were very pleasant.

Rates have been up and down at the minute with HSBC, we managed to secure 1.99% fixed for five years (60% ltv) with no fee earlier this year just before they started going up, now it's 1.94%. But like the deals now, even on a £90k mortgage it still worked out cheaper going with the fee free rate over 5 years than paying £749/£999 booking fee. I guess if you want to borrow over £100k it might be worth looking at the deals with booking fees.

And for those complaining how tough it is to get a mortgage with HSBC, we sat with a mortgage advisor for about 2 hours, gave him all our income and outgoings and once he was happy we could afford the mortgage it was approved in principle there and then and signed the paperwork the week after. Isn't that the way it should be done, mortgage providers checking you can afford the mortgage amount you're looking to borrow?

Not confirmed the specifics of this deal, but you can typically add booking fees to the mortgage, which effectively would spread this out.

From HSBC's own literature:
Booking Fee
A non-refundable fee charged on some mortgages to secure a particular mortgage deal.
You may be able to add some or all of the booking fee to your mortgage. Adding fees to your mortgage will mean that you will pay more interest over the term of the loan, than if you had chosen to pay the booking fees at the outset. If you would like to consider adding the booking fee to your mortgage, please call us or visit your local HSBC branch where we will be happy to discuss your requirements.

what is a mortgage?

Let me make YOU feel better. 4.14% 5yr fixed

Depending on how far you are into the 4/5 year fixed, it may work out cheaper to pay the early redemption penalty and take one of these out instead..

I got a mortgage with HSBC beginning of the year, was very straight forward although these rates are slightly better than what I got!

Get a better deal from Nationwide without fee's.

Transferred and re-mortgaged twice now with HSBC, very straight forward with the online application.

60% max LTV though :disappointed:

That's what I did, 8 months in to a 5 year fix at 4.69% I paid FirstDirect £3,300 to get out and dropped to 1.24 above base

I did similar, ended up paying the exit fee when I moved house, but rate went from over 5% to 2.89%. Yes there are even cheaper deals now but it's all about the timing. Same with buying property - I bought at a good time when the market was slow, sold about 4 years later with 20k profit. I know others who haven't been so lucky with the timing of property purchases and find themselves in negative equity.

The 60% maximum LTV perhaps?

Would anyone here consider the 10 Year Fixed Fee Saver @ 2.59% ? I do like to play it safe I guess!

Coming up to the end of the third year in August, but the exit penalty would have to come out of money I'm saving for a new roof so I'm torn.

My credit rating is very poor haha!

Anybody have any info about getting a mortgage on a poor credit rating? My salary is decent but from being young and dumb I have a bad credit rating

from where you got this deal. bank or building society?

Just looked at the two year deal.

Its not as good as I thought it looked.
Many people would even be better off with a higher interest rate mortgage if enough cashback was available.

By paying £749 fee, as opposed to receiving the £750 which I was given (from Nationwide when I took out my two year fixed mortgage @ 1.69% in January 2017 - £500 for being a first time buyer, £250 for Nationwide customer) I would had to have purchased a property where the loan was on £250,000 before it was worth taking out this two year fix.

Even if there was no cashback involved, you would have to be loaning over £120,000 in order for this 2 year deal to be worth it compared to something without any product fee, such as Nationwide's 1.69% deal (Based on a 25 year mortgage without any cashback).

I also got a mortgage with HSBC at the start of the year, no problems with them, they asked for a lot of information but nothing excessive considering they were lending £100K. As first time buyers, we did not mind the 3 hours of meetings as it helped us get things right(ish!). I think when people complain about HSBC's process it may be down to them and perhaps poor past financial decisions rather than HSBC's policies.

Having said that they did do the insurance hard sell, and for everything I didn't agree to, they sent me a letter sounding very annoyed that I had ignored their sage advice (or, not advice, depending on the product). Other than home insurance I cancelled the rest of the insurances before the mortgage went through any way. And I only stuck with their house insurance to simplify things to start wit, will definitely be changing it next year.

I live near (not in) London and laugh slightly hysterically when I see people writing about 100k mortgages. Need the best part of 1/2 mil to buy round here :-(

Going through an online application right now, and I've returned their calls about 3 or 4 times only to be told 'We don't know why you were called' - often they have called the wrong applicant (joint app).. their online system is awful too. Ok nobody has died, and I'll be happy when it's done, but it's a bit of a shambles.

From this offer couple of weeks ago: http://www.hotukdeals.com/deals/5-year-fixed-rate-mortgage-1-29-atom-bank-2662254

I think HSBCs rule of thumb is, if you can afford to buy a house for cash on 3 years savings out of your high income, they might consider you as a mortgage customer.

Get off the dole and work hard ... save the pennies you chimney sweeper.

Atom is a digital bank, with mortgages only available through select brokers. I also moved on to the 1.29% 5yr product, although it closed to new customers within the space of a few days I'm afraid!

Barclays are doing a couple of good five year fixes on 60%. Either 1.75% and a £999 arrangement fee or 1.70% with a £1499 fee. I went for Barclays because neither Virgin or HSBC would give me the amount I wanted. I'm pretty from my experience that Barclays are less demanding than some mortgage providers.

Agreed that the 60% max LTV does make the deal inaccessible to many but it still doesn't mean it's a cold deal and that wasn't given as the reason for the cold vote though anyway, they literally said that this isn't a good deal because houses are too expensive.

Great rates. Just been and opened the Advanced Account today as well.

We just missed hitting the 60% LTV BUT IT WAS 1.19 % which was still good

I heard comments like this a lot before I went in for my mortgage appointment with HSBC but as their rates were so cheap I thought I would give it a go.

Im 18, first time buyer and was looking to borrow 4 times my salary. I sat down with the mortgage advisor and knew exactly what mortgage I wanted and had all the documents I needed. 1 hour later the mortgage was ready to be applied for. I left him to it and the next day he sent me an email saying my mortgage had been approved. From everything I have heard it couldnt have been any easier. Im borrowing just over 4 times my salary and that including the fact that I pay about 30% of my salary into share schemes at work and have an expensive ground rent & service charge + council tax and everything else to pay by myself.

If you make mortgage affordable then demand increases which eventually pushes the prices up. Remember mortgage is 15 to 35 year agreement and you will not find many people in here who have paid off their mortagage

Agree 110%. Never been refused any financial product and these idiots turned down an equity release less than 33% of the value of my house that has no mortgage on it!!!

Drug dealers, crooks and terrorists launder money with them, but hard-working people like you are turned away. DISGRACE!

Can you over pay to get to 60% before taking a new deal?

On your existing mortgage of course - but HSBC will want to value your property and in our case they valued it at lowest market value giving is 62% LTV so we got 1.19 % and not 1.14%.

Many people like myself who have £100k mortgages and it doesn't reflect house value. I bet plenty of people where you live dont have £1/2 million mortgages.

You wouldn't overpay the existing mortgage (may be early repayment charges if you were to do that), but on applying for the HSBC mortgage, it would be at that point that you would apply for 60% of your home's value (as determined by their valuation of course).
Assuming that there would be a shortfall between what HSBC were going to lend versus your existing lender, it would be at that point that you would be asked how you wanted to make up the shortfall.

Hope that helps!

Not bad, but the Atom 5 year fix is better as mentioned.

1.29% with a £900 fee, or 1.64% with no fee (60% LTV)

Can't find the redemption fees however?

I just got a 5 years fixed 2.19% But I am FTB.

I'm with HSBC and they have always been OK with me.. and my solicitor didn't have any choice.

i never understand whats best to do with the fees, take the cheaper interest rate with fees or higher rate without the fees?

God almighty, it's simple to work out. They even provide calculators for you to input the figures and it works it all out for you. You actually need to put in a bit of effort yourself!

My current 2-year fixed @ 2.64% is due to end in Dec 2017, when is the best time to start the process to remortgage?

Ive got reasonaly good experience with HSBC too.
They are thorough for sure. I would deal with them again.

If your mortgage is less than £250K (over 25yr @60% LTV) you're better off getting Nationwide's 2yr fix @ 1.5% with next to no fee (£20)

It is simple if you take your time. Without the tools you wont get accurate numbers.

Do your sums and see what is cheapest over the fixed period.

3 months before it's due to end , so in your case September. Many lenders try to tempt you stay with them by waiving the early repayment fees, so you can technically save money by moving to a new plan 3 months before the end of current one. Of course if there are better offers outside than your lender, then go with them. 3 months should give you enough time anyway to do research and check the market.

Paid ours off by age of 33. Plus over 3 times the £100,000 price quoted here. :smile:

The Atom rate is also no longer available (as of 2 weeks ago). I'm personally not bitter as I managed to get it in time, but it's no good comparing the HSBC rate against something which doesn't exist for new customers...
http://www.mortgagesolutions.co.uk/news/2017/04/19/atom-bank-pulls-five-year-1-29-fixed-rate-mortgage/

https://residential.digitalmortgages.net/price-list
Mortgage exit fee You may have to pay this if:
Your mortgage term comes to an end;
You transfer the loan to another lender; or
Transfer borrowing from one property to another:
This is payable either at the end of the mortgage term, or before the end of your mortgage term if you transfer the loan to another lender or another property (known as 'redemption').
You may be charged a separate fee by your solicitor or licensed or qualified conveyancer for their work relating to the redemption of the mortgage and discharge of the security. £0

I moved out of the London area partially for this reason. But if you insist on living anywhere near the capital, with the insane housing situation it has, well, that's your choice. (I know not everyone has the luxury of being able to move like I did)

thanks im waiting for the wife to come in and she will know what to do, im dyslexic and have a real problem with numbers lol. ive been on calculators and i think ive worked it out also been on MSE website which is useful, i only have 96k to pay off on 730k house so the LTV is very low now so i dont think i wont get given a new mortgage, we have been overpaying and on the santander svp rate.

Just had our mortgage with them. Worst company I've ever dealt with. Customer service is terrible. Very slow at sorting anything.

On a small-ish amount like that I'd hazard a pure guess that a fee saver will work out cheaper. All depends on if you fix the rate and decide on how long for. You'll not be as easily able to overpay though depending on the product.

Thanks, but sorry maybe my reply wasn't very clear. I wasn't asking if they were allowed to overpay, more suggesting that they should over pay (if they can afford it and no penalties) to get it down to 60% LTV before remortgaging to get the best rate for the long run.

when we took out our mortgage 7yrs ago the hsbc advisor in the branch told us it was highly recommended for us to take our life insurance/assurance policies for our application and that he could provide us with a great cover.

I told him I will do some research before deciding what to do.

straight on to moneysaving expert i went.

When we came back for our follow up appointment i told him I decline his offer telling him I had found a cheaper policy through cavendish-online with L&G (Legal & General Premier Term Assurance) which was
1. Level term (fixed amount) cover in 100k in excess of the mortgage (his offer was a decreasing level cover meant to match the mortgage amount); and
2. cheaper than his policy by £6 per person per month for the next 40 years (£6 x 12 mths x 40yrs x 2 persons....)

he didn't look please and said.."oh its only £6 cheaper per month!"
I told him, "yes cheaper PER person PER month for the next 40 years...so i'm going with that!"

as soon as house purchase was complete, i remortgaged to another bank (was on a fee free tracker hsbc mortgage) within the next month and never looked back!

really? surely you would be able to remortgage given 96k balance...unless you are retired/over 80?
if you have loads of savings have a look at offset mortgages, but in any case i dont think SVR of 4.49% is the best rate!

Lucky you, not everyone can do it. Also price in last 10-15 years has increased significantly. Wages hasn't increased that much, there is house shortages in UK but if you make mortgage affordable then it increases the demand which will bring the prices more up, means take more loan for first time buyers. More loan means more interest so even if they have 1%, it will still benefit banks. At the end of the day, banks are doing business and they always love to multiply their money.

There is putting in some guidance and rules and then just being completely unrealistic and unfair.

yeah house prices are crazy here, you would think i lived in mansion, dont get me wrong its a 5bed house which we have lived in for 8 years im just coming upto 42 but as i say ive been overpaying for the last 2-3 years by quite a bit. but id like to fix for 5 years so i know my payments and i think we can probably pay get close to paying it off in five years. I keep reading lots of stuff on the internet but its muddles my brain. Missus is going to look at it again today but she reckons the 1.69% rate is fine

Can somebody help me?

Im not that familiar with mortages, I bought a house 5 years ago and have been on the standard variable for three so looking to change providers. I am currently with natwest so can someone help me with a question.

If I change to hsbc can I draw some money out of the house as a lump sum to do some upgrades? I bought the house for £135k, I owe £95k on it but I have done it up so it is worth more than I bought it. Zoopla say £185k but will probably be less (how do hsbc know how much it is worth?). I want to draw out say £20k meaning I owe £115k on a house worth at least £165k (for arguments sake) giving an ltv value of around 75%? Is this correct? Would that be possible?

Thanks, just want to check before I arrange a mortgage appointment.

Cheers

Took me 1 year. Lucky i wasn't taken to court by the seller.

Lucky you mate still no news from my broker

With your condition it is words NOT numbers that can present a problem?

should be possible in theory. hsbc would send their surveyor to do the valuation, and provided it is within the range you think it is, then you should be able to borrow more. not all banks do capital raising re-mortgages i believe but with hsbc could be tricky given how painful they are!

the actual term is Dyscalculia, but every time i mention it nobody knows what it is so saying dsylexia is easier and gives the general meaning, anyway as i say wife has a had a good look and she says its a good deal so has applied, can only wait and see what they see

Understood, good luck with it.

Thanks golo83 very much appreciated. At least I know it's possible, I will speak to them about it. I may even have a chat to a broker to. Thank you :smiley:

Sorry it's a bit off topic. I'm in a process of selling my current property and moving to a new build. Looking for a good mortgage rate with 75% LTV. Any advice, opinions, recommendations?

a fee, for wha

I am a 64 year old pensioner stuck on a 3.45 per cent mortgage (fixed term finished ages ago) with about 50 per cent ltv ....any ideas who I can remortgage with?

Nervous of going through too many credit checks

Thanks jane

Just did mine 3 year 1.74 no fee i think it was