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HSBC - Fees free lifetime tracker, any good?
berti_quinlan
Posts: 30 Forumite
Was just having a look at HSBC for their mortgages since I am an existing customer and have been for many years.
They have a lifetime tracker fees free mortgage available, which has no arrangment fee, unlimited overpayments and tracks at 3.99% above base, which is slightly less than the Abbey mortgage we got a DIP for the other week.
Just wondering if their are any 'hidden' costs that are not being advertised that anyone has had any experience with them?
Good or bad feedback on HSBC in general also welcome as i have been reading the Abbey thread and its making me nervous!
They have a lifetime tracker fees free mortgage available, which has no arrangment fee, unlimited overpayments and tracks at 3.99% above base, which is slightly less than the Abbey mortgage we got a DIP for the other week.
Just wondering if their are any 'hidden' costs that are not being advertised that anyone has had any experience with them?
Good or bad feedback on HSBC in general also welcome as i have been reading the Abbey thread and its making me nervous!
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Comments
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i've been with HSBC for my mortgage now for 6 years. As much as i'd like to move house with the current deal (1% above base) i've got its just not worthwhile at the moment.
Never had a problem dealing with them and i also have my current account, savings and credit card with them.0 -
berti_quinlan wrote: »They have a lifetime tracker fees free mortgage available, which has no arrangment fee, unlimited overpayments and tracks at 3.99% above base, ......
That's an extremely high tracker rate, can you find nothing lower?
Does this track above their own base rate or the BofE base rate, which is a very important point to consider with any tracker deal you may consider as the lender could just "up" their own base rate, whereas the BofE base rate is obviously not under their control.
Consider what happens to your repayments if / when rates start to climb ?ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270 -
That's an extremely high tracker rate, can you find nothing lower?
Does this track above their own base rate or the BofE base rate, which is a very important point to consider with any tracker deal you may consider as the lender could just "up" their own base rate, whereas the BofE base rate is obviously not under their control.
Consider what happens to your repayments if / when rates start to climb ?
We are FTBs so our LTV is only around 85% so thats one of the best i could see for our circumstance.
It tracks the BoE rate, not theirs......0
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