Anyone looking at the HSBC’s RateMatcher mortgages?

Patmoore

This rate matcher, do you HAVE to phone up or can you get this sorted in Branch? We have a meeting with a mortgage manager tomorrow afternoon, me just assuming rate matcher can be done with her.

gowgowuk

Yes, when I went to a branch yesterday, he basically used the same rate matcher tool than the one online.

Patmoore

Splendid. Hopefully we should nab a good 5 year deal. We've already had our AIP, so *hopefully* tomorrow goes swimmingly.

I will offer to pay the booking fee (and valuation) upfront, rather than tack it on the mortgage, if it means we secure a good rate.

Although it is odd they are upping rates on this, given the offer is only available until 31st July.

Llyllyll

I've updated another post re HSBC mortgages here (#10) just to provide some info on the application process itself.

SuzieMum

jasonmymail wrote: »

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

Let us know how it went anyway.

No, haven't paid anything yet, they won't take my money! Still waiting for valuer, they said 6 days from last friday, I'm guessing working days. All paperwork is signed and back with them and that takes 3-5 days to process (counting from yesterday, tuesday when they received it). They said as long as we get accepted once the valuation comes back we will hold the rate but I'll be hopping mad if they take my £190 for valuation then up their rates!! I'd rather know now and stay with current provider.

SuzieMum

Llyllyll wrote: »

I've updated another post re HSBC mortgages here (#10) just to provide some info on the application process itself.

I just read that update. I too had to get it all copied and certified in branch and they did not know what they were doing, I had to tell them!! Then they kept it and then called me back 10 mins later and said I need to take it with me to post it back myself. grrr. No proper procedures really. Also lots of hoo-har with my financial accounts (self employed and I don't use an accountant).

geet

Hello, I posted this in another thread but find that this too discusses HSBC and thought someone maybe able to advice me. I also read differing posts regarding legal and valuation fees - some say it is free with HSBC...

I checked the HSBC website and found that I can get 4.34 interest for 5 years for £899 fee. I can reserve and switch in October when my present mortgage period finishes. Abbey with whom I am at present is offering 4.99 for 4 years for £924 fee from this month itself. They say that if I choose another lender I will have to pay legal and valuation fee and also the £225 exit fee.

Can anybody advice me as to if sticking with Abbey is better for me. I tried to get a five year and better deal but they say the best they can do is four year deal with 4.99 and £924:-(

Thanks in advance.

treliac

geet wrote: »

I checked the HSBC website and found that I can get 4.34 interest for 5 years for £899 fee. I can reserve and switch in October when my present mortgage period finishes. Abbey with whom I am at present is offering 4.99 for 4 years for £924 fee from this month itself. They say that if I choose another lender I will have to pay legal and valuation fee and also the £225 exit fee.

Can anybody advice me as to if sticking with Abbey is better for me. I tried to get a five year and better deal but they say the best they can do is four year deal with 4.99 and £924:-(

Thanks in advance.

Abbey can advise you on the exit fee they, themselves, charge. But they cannot tell you how much another provider will charge you for legal and valuation costs, or whether indeed there will be any at all.

The only way you can find out is to enquire with your potential new provider and then work out which is best for you. These figures can depend on your own individual circumstances, size of loan you need, etc. and are not the same for everyone.

geet

Thanks Treliac, I am trying to get thru to HSBC to check about fees but I am being told they will call me back. Waiting. Also not sure how to work out the maths! I mean it is not easy one is four year, the other five year and I suppose in four years interest rates will be higher... it is a bit confusing.

jasonmymail

SuzieMum wrote: »

No, haven't paid anything yet, they won't take my money! Still waiting for valuer, they said 6 days from last friday, I'm guessing working days. All paperwork is signed and back with them and that takes 3-5 days to process (counting from yesterday, tuesday when they received it). They said as long as we get accepted once the valuation comes back we will hold the rate but I'll be hopping mad if they take my £190 for valuation then up their rates!! I'd rather know now and stay with current provider.

I've not had my survey done, not even paid for it. Paying valuation and arrangement fees this afternoon. Mortage advisor told me that providing I sign on the dotted line before end of play tomorrow then my rate is guaranteed.

Is your offer subject to valuation? I only have 40% LTV - not sure whether that makes any difference.