HSBC increasing interest rates!

wbaguesty

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?

Yes thats correct. Unless you already had a mortgage appointment booked with them for an application.

thejoose

Over the question of service, I am only going by the number of clients I see who were initially lured by a low rate to HSBC but then came back to use ther services of a broker after being let down by them.

Of course these are only anectdotal evidence in the same way that your experiences are. There will be plenty of occasions when HSBC runs smoothly. That said it can make sense if you are applying to HSBC to also apply for a nother scheme as a back up plan so that if it does go belly up with HSBC then at least you are not back to square one.

My job is to provide good advice and that encompasses a lot more than just the lowest rate.

wbaguesty

Been into the bank today and all signed up. Got the lower rate too. ;-)

m00

_Andy_ wrote: »

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

I have applied and sent off all documentation last week - I presume this is classed as a full application?

Thanks in advance?

_Andy_

m00 wrote: »

I have applied and sent off all documentation last week - I presume this is classed as a full application?

Thanks in advance?

Yes that's right.

m00

_Andy_ wrote: »

Yes that's right.

Thanks for that

What are the timescales for them to sending out the Surveyor?

lyndasharp

I got my mortgage agreed with HSBC on Wedneday, and they said the surveyor will be visiting the property within a few working days, though it does depend on when is convenient for the estate agent / house owner of course.

wbaguesty

Thats right, they said it would be in a few days before the valuation is done dependent on the availability of the vendor. Im so excited.

Had no problems either so far which is good.

m00

wbaguesty wrote: »

Thats right, they said it would be in a few days before the valuation is done dependent on the availability of the vendor. Im so excited.

Had no problems either so far which is good.

Excellent

Did they take your fee already? They havent taken a fee from me as yet?

wbaguesty

Nope not taken a fee as its the fee free one. Over the term of the fixed rate it would not have saved money.

The funds are all booked though which is good. When did you apply?