HSBC increasing interest rates!

Toughluck

Yes the advisors in the branch will contact their clients soon so they don't lose business to other lenders who do not hike rates.

wbaguesty

Toughluck wrote: »

Yes the advisors in the branch will contact their clients soon so they don't lose business to other lenders who do not hike rates.

Yes but we are FTB's with a graduate mortgage with HSBC, by far the best for us who want a 95% LTV.

WHo has the best rate for those circumstances at the moment?

sympatex

i'd agree with WBA, my gf and i are both graduates and going with a 90% deal at 5.69% special fix. Not sure if that will stay like that though. We just have the mrotgage certificate so it is not guarenteed.

A_little_stressed!!

I'm thinking about going for the 5.69% fixed also. Rang to make my appointment today and they said mortgage rates aren't changing at the moment, but they are withdrawing the 10yr fixed!

bubblesmoney

thejoose wrote: »

May have the best prices but they sure as hell don't have the best service.

i'd take your comments about hsbcs service with a big pinch of salt. reason being hsbc doesnt give commissions to brokers or work thru brokers as far as i am aware. as far as i am aware they deal only directly with customers. so it is in YOUR (as u r a mortgage advisor / broker getting commissions from other mortgage providers) interest to run HSBC down. although i may be wrong and you might have dealth with hsbc yourself and have had bad experiences with them.

from my experience as a customer who recently got a hsbc mortgage i can say that the service was excellent and couldnt get any better. reason being i got my mortgage approved in a little more than a week (would have probably been faster if my new telephone number was on their records and they wouldnt have had to contact me by post as they couldnt get me on my old number). valuation was free, no charges for mortgages, home buyers survey was arranged and done in 2 days. home buyers report cost me only 180£ (full structural survey would have cost only around 390£ i think and even though i was considering doing it, the surveying company said no need for full structural survey as recently built and advisied me to do only valuation or at the most a home buyers report even though by giving that honest advice they would not have got any money from me, but i still did the home buyers report anyway. the surveying company appointed by hsbc were excellent as well, contacted me before survey and after survey and gave me their mobile number to contact anytime of i had any concerns or needed to discuss the report, i did contact them on a few occassions and they were very helpful. after i signed the application everything went like clockwork and i didnt have to contact hsbc for anything they contacted my solicitor directly and sorted out everything efficiently. internet mortgage account was set up by hsbc soon after application approved and i can start overpaying off my mortgage online (and benefit from daily interest calculations) now even before my 1st months direct debit for mortgage goes out of my account.

although i admit this was just based on my experience and i dont know about other peoples experiences with hsbc but i do have bad experinces with customer service at some other banks.

i_love_it

I've been messed about by A&L (long story for the vent thread) anyhow, I decided only yesterday to enquire with HSBC about their 5.79 tracker, fee 599.00, they've been very helpful over phone and after reading here about rates changing I made the application on the phone this morning, which was accepted pending my ID Checks.

This afternoon i took all relavent docs into branch without an appointment which were photocopied and retaied and I also opened a current account there and then (for extra borrowing part of mortgage) to avoid a 30.00 fee as i'm not a HSBC customer. Which is already set up online for me to access where I can view mortgage app progress apparently!

Have found the whole proccess painless so far and a relief after all the hastles from A&L ( with whom I have my main current account)

They also advised the 5.79 tracker is still available after monday for same 599 fee however the LTV will decrease from 90% To 75% which doesn't affect me.
So it seems it is in proccess and I'm happy with the service so far (early days)

wbaguesty

sympatex wrote: »

i'd agree with WBA, my gf and i are both graduates and going with a 90% deal at 5.69% special fix. Not sure if that will stay like that though. We just have the mrotgage certificate so it is not guarenteed.

What I would do is contact your branch before Monday, this is when the rates are set to rise before then. They wasnt sure what too though.

They said if you have an existing AIP you have a week to get the mortgage application started after the day of the introduction of the rate increase to take advantage of the lower rate, which is what I am doing.

Im glad you agree sympatex, anything to save us money and il do it.

wbaguesty

bubblesmoney wrote: »

i'd take your comments about hsbcs service with a big pinch of salt. reason being hsbc doesnt give commissions to brokers or work thru brokers as far as i am aware. as far as i am aware they deal only directly with customers. so it is in YOUR (as u r a mortgage advisor / broker getting commissions from other mortgage providers) interest to run HSBC down. although i may be wrong and you might have dealth with hsbc yourself and have had bad experiences with them.

from my experience as a customer who recently got a hsbc mortgage i can say that the service was excellent and couldnt get any better. reason being i got my mortgage approved in a little more than a week (would have probably been faster if my new telephone number was on their records and they wouldnt have had to contact me by post as they couldnt get me on my old number). valuation was free, no charges for mortgages, home buyers survey was arranged and done in 2 days. home buyers report cost me only 180£ (full structural survey would have cost only around 390£ i think and even though i was considering doing it, the surveying company said no need for full structural survey as recently built and advisied me to do only valuation or at the most a home buyers report even though by giving that honest advice they would not have got any money from me, but i still did the home buyers report anyway. the surveying company appointed by hsbc were excellent as well, contacted me before survey and after survey and gave me their mobile number to contact anytime of i had any concerns or needed to discuss the report, i did contact them on a few occassions and they were very helpful. after i signed the application everything went like clockwork and i didnt have to contact hsbc for anything they contacted my solicitor directly and sorted out everything efficiently. internet mortgage account was set up by hsbc soon after application approved and i can start overpaying off my mortgage online (and benefit from daily interest calculations) now even before my 1st months direct debit for mortgage goes out of my account.

although i admit this was just based on my experience and i dont know about other peoples experiences with hsbc but i do have bad experinces with customer service at some other banks.

Cheers for that, Very interesting. I have been with HSBC for a while now and never had any problems.

Infact, worked for them for about a year. Although I dont agree with some things they do, the service and speed is very good.

lemon2_2

wbaguesty wrote: »

What I would do is contact your branch before Monday, this is when the rates are set to rise before then. They wasnt sure what too though.

They said if you have an existing AIP you have a week to get the mortgage application started after the day of the introduction of the rate increase to take advantage of the lower rate, which is what I am doing.

Im glad you agree sympatex, anything to save us money and il do it.

I have just spoken to HSBC over the phone regarding this 3yr fix @ 5.69% as the rates have now changed. I have a mortgage certificate (AIP) but they wont allow me to proceed at this rate. Is this correct?

_Andy_

lemon2 wrote: »

I have just spoken to HSBC over the phone regarding this 3yr fix @ 5.69% as the rates have now changed. I have a mortgage certificate (AIP) but they wont allow me to proceed at this rate. Is this correct?

If the rates have already changed then yes that's correct. An AIP does not secure a rate, only a full application does.