Renewal of HSBC Mortgage

Nickij

Hello

We have a mortgage with HSBC on a fixed rate which is coming to an end in June 2009. I spoke to someone in HSBC and they said that although they allow new customers to reserve products up to 6 months in advance, they would only allow existing customer to reserve up to 2 months.....

Do you think this is right as when I spoke to someone about a year ago they said six months.....

baggies666

I asked my other half a mortgage advisor at Hsbc and he says the manual says 6 months unless there has been a very recent change, I would pop into the branch again or ring the call center.

Nickij

Thanks

I just called HSBC and they said they would make an appointment and I could go in and discuss the renewal now. So I have an appointment to go and see them in March

Hopefully they will be able to sort us out.....

baggies666

Glad things sorted, they have some good mortgages at the moment too.

Margin_Walker

Unless the policy involved has changed in the last six months they wont let you book/reserve a new rate until 6 weeks - 2 months before the expiry of your existing rate unfortunately. If you have just called telephone banking to book an appointment at branch the CSR would be unlikely to know this. It would probably be best to check before going to the appointment to prevent it being a waste of your time.

michaels

Doesn't surprise me - given how little of the base rate reductions HSBC have passed on it is pretty obvious they do not care about existing customers - worth bearing in mind when looking at a 'new customers only' deal with them as well.

Nickij

Well I called through to the mortgage number and said my rate expired to June etc etc and how long until we can look at renewing and they said now and we could do it over the phone or make a meeting at the branch, so hopefully will be ok....

I think we will have to stay with HSBc as we don;t have enough equity to move - we may end up having to go on to their SVR, but I want to see if there is any chance they will offer us a fixed- not counting on it, but we will have to see.