Anyone looking at the HSBC’s RateMatcher mortgages?

gowgowuk

ukclarkkent wrote: »

found out today that hsbc's rate matcher rates are going up on the 6th. get in there quick if you're thinking about it.

I've had an appointment in the branch today. It was a mortgage adviser (I think) and all he could do for me was discussing the keyfacts and printing a "Mortgage certificate" which is basically a quote, not a mortgage offer. He said if I want to go ahead with the offer, I should get another appointment with a mortgage manager, the earliest date bein.... the 6th! I really hope that they are not going to change the quote on the day I come to pay sign it!!!

SuzieMum

ukclarkkent wrote: »

found out today that hsbc's rate matcher rates are going up on the 6th. get in there quick if you're thinking about it.

OH NO!! Still waiting for the valuer to contact us. Wonder if we have held the quote?? I'm going to ring them!!

gowgowuk

I am slightly confused about the different ways they seem to proceed. Maybe it's because I am in Scotland? For a start, I could not get a quote on the phone. Then, the guy I saw today in the branch said clearly that the interest rate in the quote is not garanteed until I actually book the mortgage and pay for the booking fee. After that, the rate is garanteed for 3 months or until the mortgage is drawn (is that the right term?). The valuation and legal fees come later... But I understand that in your case, they wait for the valuation before accepting the agreement?

ukclarkkent

i met with a nice girl today. she increased the valuation of what i thought my fflat was and it got accepted online after she spoke to someone on the phone. the bank mgr walked in, entered her info and job done. it was then i thought to alter the term and i gotta to do some number work tonight and phone nice girl back tomorrow and she'll take out the booking fee from my account. job done.

jasonmymail

gowgowuk wrote: »

He said if I want to go ahead with the offer, I should get another appointment with a mortgage manager, the earliest date bein.... the 6th! I really hope that they are not going to change the quote on the day I come to pay sign it!!!

Hmm, not sure if you'll get in in time. Even assuming you have all the documents they need, pass the credit check and affordability test, and get an offer, HSBC then send the application to their underwriters for final approval (48hr turnaround).

If you're approved on the 6th may be worthwhile paying the booking and valuations fees if they'll accept it there and then.

jasonmymail

SuzieMum wrote: »

OH NO!! Still waiting for the valuer to contact us. Wonder if we have held the quote?? I'm going to ring them!!

Have you paid the booking & valuation fees - if so am sure you'll be fine.

Let us know how it went anyway.

gowgowuk

jasonmymail wrote: »

Hmm, not sure if you'll get in in time. Even assuming you have all the documents they need, pass the credit check and affordability test, and get an offer, HSBC then send the application to their underwriters for final approval (48hr turnaround).

If you're approved on the 6th may be worthwhile paying the booking and valuations fees if they'll accept it there and then.

Well, I was ready to pay the booking fee there and there yesterday, but the guy said I can only do this on the 6th. Fingers crossed.

alanfp

I think that a lot of HSBC rates aren't going up at all. Their 2-yr fixed rate deals look quite cheap to me.

As an aside, when I was on their website today, they offered a live web-chat... so I thought I'd try it. After a bit of a delay, I got an answer to my question - "what's the best 2-yr fixed rate deal and what are your fees?". The answer I got was "Are you looking for the lowest rate". Well, duh, so I replied "What do you think?"
Response from Tina:"Mortgage adviser has terminated this conversation".:rolleyes:

sarmia

The 7 year fixed has already gone up.

gowgowuk

Well, apparently some fixed rates went up today, see
http://www.dailymail.co.uk/money/article-1196642/Putting-ceiling-mortgage-bills.html
and
http://www.google.com/hostednews/ukpress/article/ALeqM5ivCmIJke_RhoceTYhd9vZndjitbw

But somehow it looks like these are different products, and not the ones you get from their Rate matcher tool?