HSBC Mortgage Query

jessicamb

Hi All

I'm a newbie in these parts with hopefully a simple question that I hope you can help me with.

I have had an HSBC mortgage for a few years, taken out in my pre MSE days for 100% of the property value. It was a homebuyer mortgage discounted for the first few years and then put onto SVR. Earlier in the year when it went to SVR I took an offer from HSBC to extend the fixed rate at 6.3%. Anyway thats the background...

Under my previous homebuyer mortgage one of the features was that I could switch the mortgage from fixed rate to variable rate at any time. Does anybody know if their current capital repayment mortgage has a similar feature? I doubt that I would be able to remortgage to another provider/deal as I still have a very high LTV on this property.

Thanks for reading

feisty1

refer to your offer documents for exact information on your current product

_Andy_

Hi jessica.

I've got a feeling you may be confused about what HSBC offer.

Yes you can switch from fixed to SVR if you want but only if you pay early repayment charges (this is regardless of whether you're on interest only or repayment).

You can switch at any time from SVR to fixed (you would in that case need to pay the booking fee).

You're right on the final point - as it was /is 100% LTV you will need to stick with HSBC for now.