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HSBC Lifetime Tracker BofE Base Rate _ 0.48%

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Comments

  • aliwali
    aliwali Posts: 407 Forumite
    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.
    Fashion on a ration 0 of 66
  • Sun
    Sun Posts: 326 Forumite
    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.
    All I ask is the chance to prove that money can't make me happy.
  • has214
    has214 Posts: 38 Forumite
    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
    has214 Posts: 38 Forumite
    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.
  • bigstevex
    bigstevex Posts: 919 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    halifax are so bad even their staff mortgage has a 2% collar!
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