The table-topping HSBC mortgage with a sting in its tail

edited 4 June 2009 at 11:48AM in Mortgages & Endowments
19 replies 3.1K views
MSE_GuyMSE_Guy MSE Staff
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I've been Money Tipped! Newshound! Chutzpah Haggler
edited 4 June 2009 at 11:48AM in Mortgages & Endowments
This thread is to discuss the following news story:
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  • Bernard_ColeslawBernard_Coleslaw Forumite
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    Everyone needs something to believe in.

    I believe I need another beer.
  • Bernard_ColeslawBernard_Coleslaw Forumite
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    Link now fixed.

    @ MSEGuy - You're welcome, BTW.....
    Everyone needs something to believe in.

    I believe I need another beer.
  • TEDDYRUKSPINTEDDYRUKSPIN Forumite
    1.5K Posts
    Before someone starts to go, 'oooooo...!!!!'

    Read the article. HSBC requires all booking fees to be paid up front. Standard valuation and the completion fee is waived.

    They sting in this so called tail is definitely the booking fee.

    This will work for some and not all.
    Motto: 'If you don't ask, you don't get!!'

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  • koexelekkoexelek Forumite
    7.8K Posts

    Read the article. HSBC requires all booking fees to be paid up front.


    Can't see many people wanting to do that
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • RexxyRexxy Forumite
    75 Posts
    Does anybody know if this is the same with their existing fixed rate deals?
    Win £2008 in 2008 member no.168! :p
  • michaelsmichaels Forumite
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    I would advise extreme caution in dealing with HSBC unless it is with a fixed or tracker product. They have passed on very little of the interest rate cuts even though the cost of funds to them has fallen sharply so there is nothing to stop them raising their svr even further above the base rate even if the BoE do not increase base rates.

    I have been stung to the tume of several thousand pounds transferred directly from my pocket to their profits. Be carreful with HSBC.
    I think....
  • michaels wrote: »
    I would advise extreme caution in dealing with HSBC unless it is with a fixed or tracker product

    Which are the only two products they sell.
  • TEDDYRUKSPINTEDDYRUKSPIN Forumite
    1.5K Posts
    _Andy_ wrote: »
    Which are the only two products they sell.

    What else do you need? LOL. A free lollipop?

    I am surprised that Michael has actually said that HSBC have not passed on the drop on SVR. Don't you know? They DO NOT have to. As it states! Banks standard variable rate!

    This is NOT A TRACKER!
    Motto: 'If you don't ask, you don't get!!'

    Remember to say thank you to people who help you out!

    Also, thank you to people who help me out.
  • Anyone would think HSBC were a business.....:confused:

    What do you expect if you get a fixed rate as low as 2.49% fixed for 2 years? £200 Cashabck for your trouble??
  • TEDDYRUKSPINTEDDYRUKSPIN Forumite
    1.5K Posts
    Anyone would think HSBC were a business.....:confused:

    What do you expect if you get a fixed rate as low as 2.49% fixed for 2 years? £200 Cashback for your trouble??

    I heard if you go through quidco you can £0 cashback through HSBC mortgage. What a deal.....................:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:
    Motto: 'If you don't ask, you don't get!!'

    Remember to say thank you to people who help you out!

    Also, thank you to people who help me out.
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