Hsbc 3.99% fixed rate

baggies666

My o/h just told me that he has got the new rates and the 3.99% is being withdrawn so anyone looking at this deal better decide fast, the date for the change is 14th May.

The new special seems to be a 5 year fix at 4.39% £999 fee and Ltv 75%, not really looked at all the other rates but the 3.99 was not a bad deal.

cheers

inspector_monkfish

Doesnt make sense when LIBORs are drifting lower every day.

Just the lenders ripping everyone off as usual

TEDDYRUKSPIN

inspector_monkfish wrote: »

Doesnt make sense when LIBORs are drifting lower every day.

Just the lenders ripping everyone off as usual

No. Apparently the mortgage community are looking at putting up the rates! Strange but true. They are looking at getting their money back as fast as they can.

HSBC have been constantly making people redundant in the investment departments and are trying for ways to save money. The so called Household (aka HFC and that nasty beneficial finance) have really hit them hard. They have forcast that these individuals will start to try and declare bankrupt on the credit cards and personal loans in the next few months. The predicted target date was actually September 2009 for this to happen. How they predicted this, I don't know. It is well documented that this toxic debt was the so called, 'second wave'.

HSBC will be safe no doubt. They are quite clever in repaying debt.

Anyway, the above is true. Many banks will be following suit in the next month or so. But......... I understand the long fixed rates will drop. All financial institutions will tie people longer if they can.

nw_man

Yorkshire Building society have upped their 5 year fixed offset from 4.69% to 4.99% in the last day or two.

michaels

HSBC (and first direct) have a lot of what turned out to be under priced trackers (+0.49% doesn't leave much room for default risk) so they are trying to make the money back from customers on new deals and svr / svr linked rates, taking advantage of their perceived financial strength to get funds much cheaper than their competitors..

_Andy_

inspector_monkfish wrote: »

Doesnt make sense when LIBORs are drifting lower every day.

Just the lenders ripping everyone off as usual

Why is making profit a 'rip off'? HSBC isn't a charity or not-for-profit organisation.

Markyt

inspector_monkfish wrote: »

Doesnt make sense when LIBORs are drifting lower every day.

It makes sense when you realise swap rates have increased significantly over the last week (though they have dropped slightly again since)

Vertigo1

baggies666 wrote: »

My o/h just told me that he has got the new rates and the 3.99% is being withdrawn so anyone looking at this deal better decide fast, the date for the change is 14th May.

The new special seems to be a 5 year fix at 4.39% £999 fee and Ltv 75%, not really looked at all the other rates but the 3.99 was not a bad deal.

cheers

Where is this deal exactly - can't see any sign of anything close to that on their website or am I missing something?