HSBC Mortgage Portability?

genuineplacebo

Hi All,

My Husband and I took out an HSBC mortgage back in 2006, on a 3 year fixed rate. The rate matured and it has now been on the HSBC Standard Variable Rate for nearly a year.

We are now looking to move house and the Variable Rate we are on is a decent rate compared to what we could get elsewhere. However, we have been told that we aren't able to port the Variable Rate.

Is this right?

When we were sold the mortgage we were told it was portable but now it seems that only applied to the fixed rate....

Ideally we would like a fixed rate but in a year or so when the rates reduce slightly for higher rate borrowers - 90% etc.

Any info or advice would be much appreciated!

Thanks!

VIGILANT22

genuineplacebo wrote: »

Hi All,



We are now looking to move house and the Variable Rate we are on is a decent rate compared to what we could get elsewhere. However, we have been told that we aren't able to port the Variable Rate.

Is this right?

When we were sold the mortgage we were told it was portable but now it seems that only applied to the fixed rate....

Ideally we would like a fixed rate but in a year or so when the rates reduce slightly for higher rate borrowers - 90% etc.

Any info or advice would be much appreciated!

Thanks!

Who do you believe the people you have borrowed the money from or people on this forum?...Do you think you can tell the lender how you would like them to charge you "in a year or so"...!!!!......:rotfl:

genuineplacebo

VIGILANT22 wrote: »

Who do you believe the people you have borrowed the money from or people on this forum?...Do you think you can tell the lender how you would like them to charge you "in a year or so"...!!!!......:rotfl:

Thanks for your help, it's obviously much appreciated......!

I wasn't saying I want them to give me a fixed rate in a year or so - Just that if possible I would like to keep the variable rate.

VIGILANT22

I can't undertsand why you speak to the company who have given you x amount of thousand pounds and then ask here if it is correct..so sorry if you did not like my answer...but i just find it..??!!