Porting a HSBC Lifetime tracker

ronaldmacdonald

Hello

If I wanted to move house and borrow more to do it, assuming that it was acceptable and I had the equity what would happen to my tracker rate?

Do hsbc "port" the existing rate to the whole amount of the loan or do they simply move you onto whatever rate the current lifetime trackers are on? I ask as it looks like tracker rates have gone up with the HSBC

feisty1

yr existing mortgage would stay as it is if no pre arrangements had been made for further borrowing when u set up the mortgage........ the additional amount you require will be on any of the deals they have at the moment

ronaldmacdonald

Thanks for the reply, I dont think we will ever move with the market the way it is - but from what I understand of what you are saying is simply that any additional borrowing will be on a new product/rate but the existing borrowing will stay as is. That doesnt sound too bad considering!

feisty1

RM: you've got it! oh stay where u r for the time being if u can, too much stress/distress involved & i see so many sales falling thru............just count yr blessings have somewhere!

ronaldmacdonald

feisty1 wrote: »

RM: you've got it! oh stay where u r for the time being if u can, too much stress/distress involved & i see so many sales falling thru............just count yr blessings have somewhere!

Oh tell me about it, we have had one sale fall through already after spending the best part of £800 on surveys/solicitors/mortgage fees etc. If, by some miracle we do sell next year I won't be buying until at least exchange. Lessons were well and truly learnt there. But yes, I don't want to repeat that experience and will stay put if we have to.