HSBC Remortgage 2.99%

atlantic04

Hi Just sorted a very good remortgage rate with HSBS 2 years fixed at 2.99% £599 booking fee but they pay all leagal and valuation fees but you must have 60% LTV

Robert_Sterling_3

So far so good.

dimbo61

Good now put all the money you are saving each month as your mortgage is less into a regular saver with barclays 6% or halifax 5% untill your 2 years fix is up.
Consider overpaying if you have any extra
Your mortgage is a debt ( DEATH DEBT !!! ) and paying it off ASAP is the cheapest way to service this debt.

cbrpaul

Not bad but i think 2 years is a safe bet that rates aint gunna do alot, also depends what rate you got now, and when taking the £599 fee into account is it worth it ?

With that taken into account , look a their 5 year fixed with a whopping £999 fee !!!! now what does that tell you what they think is going to happen ?


5 Year Fixedfee £999 @ 6.79%

:beer:

N20Y1D

cbrpaul wrote: »

Not bad but i think 2 years is a safe bet that rates aint gunna do alot, also depends what rate you got now, and when taking the £599 fee into account is it worth it ?

With that taken into account , look a their 5 year fixed with a whopping £999 fee !!!! now what does that tell you what they think is going to happen ?


5 Year Fixedfee £999 @ 6.79%

:beer:

Whats the release fee on that? I've just been looking at remortgaging with hsbc as im currently stuck on a 5.98 fixed (has a 3% release clause)

johnycoldears

dimbo61 wrote: »

Good now put all the money you are saving each month as your mortgage is less into a regular saver with barclays 6% or halifax 5% untill your 2 years fix is up.
Consider overpaying if you have any extra
Your mortgage is a debt ( DEATH DEBT !!! ) and paying it off ASAP is the cheapest way to service this debt.

This particular mortgage limits you to over paying by 20% of the monthly payment e.g £100 on a £500 a month mortgage.

I nearly went with it myself but have just plumped for a five year fix at 4.49% with Britannia (£549 fee) which can be overpaid by upto £450 per month. I'm hoping the gains in the last three years will offset the savings on the HSBC mortgage in the first two years

TuftyMatt

Good point johnycoldears,

My three year deal with Britannia ends in August (4.74%) and I like the look of a five year deal at just under this. May even get lucky and see 3.75 ish if another 1/2 a point comes off the BOE rate in future and the latest cut is taken into account from March.

iwannapost

Well our 5 year fixed rate of 4.89% with alliance and leicester ends at end of march. We have found the same rate with Britannia for 10 years, so we have decided to go with this as when we originally fixed 5 years ago that was a cheap rate then, also with fixing for 10 years we will save on arrangement fees etc every 2-5 years to re-fix. We have done this as it would be a disaster if interest suddenly went up on us as we could not afford more than what we are paying at the moment. It seems like we could save a lot in the short term by switching to variable but they never stay that low for long and by the time we realise the interest rates are increasing again, the fixed rates will be creeping up again. So we've gone for security for peace of mind.