Is 3.99% 5 year fix the lowest it will go ??

Stantheman

Stantheman wrote: »

Just noticed the Abbey 3.99 isnt on the website. Is this the beginning of the end?

Just spoke to Abbey and it has been pulled. Worrying?

ruby911

Are any lenders still offering the 3.99 5 year fixed rate deal?
If not, what are the 'next best' deals that anyone has seen?
Now entering the end of my current rate deal and am feeling mind blown when looking at mortgage comparison sites!
Any help really appreciated!

wassa

Thanks guys - esp Kirstypea.
Just got off phone to HSBC and all seems to have gone through at that rate. (Adviser was very good). When I asked about the product being pulled at 3.99% he said they had not been informed of this.... He said that I would get this deal though - subject to all paperwork etc when returned being in order.
For info I spoke to an independent broker earlier today who couldn't get this deal (HSBC direct only). Best he could recommend was Chelsea BS at 4.15% 5 years - £995 fee.

kirstypea

wassa wrote: »

Thanks guys - esp Kirstypea.
Just got off phone to HSBC and all seems to have gone through at that rate. (Adviser was very good). When I asked about the product being pulled at 3.99% he said they had not been informed of this.... He said that I would get this deal though - subject to all paperwork etc when returned being in order.
For info I spoke to an independent broker earlier today who couldn't get this deal (HSBC direct only). Best he could recommend was Chelsea BS at 4.15% 5 years - £995 fee.

No problem. I know I'd be gutted if it was me who missed out. It's odd that they didn't know, although our information came from in branch rather than customer services (if that even makes any difference). Even if I'm wrong, no harm done, you only need the agreement in principle to make sure you don't lose out

themadjock

First post, but following this with great interest. I'm currently on a tracker but was considering fixing with HSBC at their 3.99% rate, but take advantage of the fact that I don't need to move for 6 months. I spent 2 hours on the phone to them last night to process my application. However, I was hugely disappointed when they valued my house at £75k lower than I think it's worth (and also £75k lower than the nationwide valuation on line, 1 other online system, and the valuation I was given 6 months ago by First Direct when I remortgaged). Like robbomc they were very keen to get me to pay for an additional valuation.

A bit of a con, me thinks.

On a separate note, still not sure whether I'm fixing too early, but the speed that the 3.99 rates are being pulled does make me wonder ....

Stantheman

alzar wrote: »

This is all very strange? I feel there is a slight panic on here.
I dont want to offend anyone here but that is just my opinion.

The base rate is still 0.5% and going on the comparison sites there are still plenty of 3.99% deals out there.
Is there anyone who shares my views here or is everyone going to mop up the 3.99 deals on offer?

p.s. for info, im holding off for the moment...

Mate, trust me I dont want to panic anyone but Ive been watching rates for 6 months and waiting for 5 year fixes to fall below 4%. I was pleased when they finally reached that level but after learning that Abbey have withdrawn their deal, A&L have pulled their fee free deal and the rumour that HSBC may be pulling I've gotta say I'm slightly worried:o. I really hope Im wrong as Im not in a position just yet to fix but hate to think I may have missed the boat. I'd love someone to convince me otherwise as its really quite nerve racking.

Why does everyone think these deals are disappearing? Do you think they may be replaced with better ones?

Dithering_Dad

Stantheman wrote: »

Mate, trust me I dont want to panic anyone but Ive been watching rates for 6 months and waiting for 5 year fixes to fall below 4%. I was pleased when they finally reached that level but after learning that Abbey have withdrawn their deal, A&L have pulled their fee free deal and the rumour that HSBC may be pulling I've gotta say I'm slightly worried:o. I really hope Im wrong as Im not in a position just yet to fix but hate to think I may have missed the boat. I'd love someone to convince me otherwise as its really quite nerve racking.

Why does everyone think these deals are disappearing? Do you think they may be replaced with better ones?

I hope you're wrong too - I'm no where near a position where I can remortgage for one of these great deals

stolt

having snagged the A&L 3.99% deal a couple of weeks back, i'm alittle shocked to see the others pulled so quickly, maybe there was so many people waiting in the wings to snap up these deals that the banks that offered them were overwhemed with the applications. It is really strange as i expected the A&L and abbey to start the ball rolling with other banks. Although I did have my theories that i couldnt see the fee free deals being too frequent or lasting very long but they have bascially been on for 2 weeks.

We are buying a house after renting for a while so for me the A&L deal came at just the right time.

I'm sure in a few weeks there are similar deals to be had, at the end of the day nothing has change with the credit crunch. I guess there are millons out there on SVR's just waiting to jump on a fixed rate deal, i wouldnt be surprised that A&L have quotas to fill offered a good deal, got loads of applications and closed it down quickly and off the back of that some took up the 3.95% with fees deal that replaced it.

NikkiP_2

wouldnt worry about the 3.99's getting withdrawn at the moment.
The lenders allocate a fixed amount of funding, say £50m at a time and match it elsewhere.
When those funds are used up they pull the mortgage and then renegotiate with'the other side' and will announce a new deal, which may be the same, but only when they have secured the matched funding.

baggies666

I can confirm that from the 6th the 3.99% 5 year fixed rate is going to be withdrawn my oh works for them and had the new rates yesterday, the new 5 year fix will be at 4.89% 75% ltv but the fee has be reduced to £599 for plus customers its 4.74% the 3 year fix still a good price.

wassa wrote: »

Hello all - (first post!).
Been reading avidly all these comments - great forum.
Is it true the HSBC 5 year 3.99% fix is ending? Spoke to HSBC earlier and they didn't mention this.
Was going to sort out tomorrow, but if this is true - will call now!!
Thanks in advance.....