Hsbc - Svr ?

Essenchill

How do I find out HSBC's current SVR? Do I have to phone them? Are they required to 'advertise' it anywhere, ie on their website - as I can't seem to find it anywhere?

fubar4164

Think it's 6.25%. They haven't changed it since the rate cut.

Essenchill

Thanks fubar, I didn't think they had changed it yet, was wondering where I keep an eye on it, as I can't seem to find details anywhere confirming 6.25% (though I do think that is right).

john_boot

they put their rates on their website under the mortgages tab....

they havent changed their rates yet, but are due to after 2nd December.

They do keep their most current rates on the site

indig

HSBC has announced that it is reducing its standard variable rate (SVR) by 0.81 percentage points from December 5, lowering it from 6.25 per cent to 5.44 per cent. First Direct, the online-only bank owned by HSBC, will also cut its SVR by 0.81 per cent, to 4.69 per cent.

_Andy_

Essenchill wrote: »

How do I find out HSBC's current SVR? Do I have to phone them? Are they required to 'advertise' it anywhere, ie on their website - as I can't seem to find it anywhere?

Depends how old your mortgage is - older ones had a guarantee built in whereby it will never be more than 1% above BOE base.

Essenchill

john_boot wrote: »

they put their rates on their website under the mortgages tab....

they havent changed their rates yet, but are due to after 2nd December.

They do keep their most current rates on the site

I'm sorry, but where under the mortgages tab? I have had another look just now, can you direct me to where under the mortgages tab I find the SVR detailed?

Trying_to_be_good

Normally if you look at a fixed rate deal, it says the rate you pay after the expiry of a fixed rate is the HSBC variable rate and it tells you what that rate is. Perhaps not the most straight forward way to find it, but it works for me!

TEDDYRUKSPIN

Actually 5.48% at the moment. Old CAT standard rate will be 4.00%.

Guideline. Any rates which were to after 2006 with HSBC will be at 5.48%.
Any old CAT Standard variable rates will be at 4.00%.

michaels

HSBC have gone from having historically competitive mortgage standard variable rate to one of the highest having only passed on 81 basis points of the combined 200 basis points cut. As this is how they treat their loyal customers, costing them thousands of pounds a year on average I would recommend not taking any financial products from them or First Direct if at all possible.

Essenchill

Trying_to_be_good wrote: »

Normally if you look at a fixed rate deal, it says the rate you pay after the expiry of a fixed rate is the HSBC variable rate and it tells you what that rate is. Perhaps not the most straight forward way to find it, but it works for me!

Many thanks Trying to be good - that makes sense is very helpful.

I'm not looking at products as such, which seems to be what most people have assumed, I am just comparing SVR and couldn't find HSBCs...

I thought banks would have to publish them, and was just looking for the easiest way to find them. This method, as you say is not perhaps the most straightforward, but it works!