HSBC Lifetime Tracker BofE Base Rate _ 0.48%

aliwali · 7 November 2008 at 7:22PM

We have an HSBC +0.48% base rate tracker too. We had a letter last month to say that our payment would change from this month. So I assume we will get a letter again this month to say that it will drop by 1.5% next month. You may have different T&C's but that is what ours are.

Sun · 9 November 2008 at 9:04PM

I got following message in my HSBC online banking:

Following the decision by the Bank of England to decrease its base rate, we have now decreased our mortgage rates.

Your interest rate of 4.98% changed on 7November2008.

The new interest rate is 3.48%, this is 0.48% above the Bank of England Base Rate.

has214 · 13 November 2008 at 10:07PM

Halifax have a 3%collar,Nationwide's is 2.75%,HSBC is whatever and when ever the climate is right. Royal bank of Scotland, lloyds dont have one I think. Barclays don't either but I think they have their own base rate that they track.

has214 · 13 November 2008 at 10:09PM

the 0.48% above the base rate is your tracker margin. You'll always be that much above the bank of englad rate, but beware of collars which might be coming into effect soon.