HSBC Tracker Mortgage

johnwey

Hello
can you give me your opinion please on HSBC lifetime tracker mortgage . Rate of 1.79% above base rate

I will need a LTV of 57%

Is there any better lifetime trackers out there than this ? The Booking fee with them is £99

and can someone cast there eye over it please and let me know if you can switch lenders after a few years without penalty if you have to , I dont quite understand it

Many thanks

dannya1978

johnwey wrote: »

Hello
can you give me your opinion please on HSBC lifetime tracker mortgage . Rate of 1.79% above base rate

I will need a LTV of 57%

Is there any better lifetime trackers out there than this ? The Booking fee with them is £99

and can someone cast there eye over it please and let me know if you can switch lenders after a few years without penalty if you have to , I dont quite understand it

Many thanks

Hi, I applied for this product last night at 90% LTV and was rejected on affordability, really peed off as was very happy with the product. There is no exit fee and you can come out of it at any time. My rate was + 4.19% obv due to high LTV, hope that helps.

johnwey

dannya1978 wrote: »

Hi, I applied for this product last night at 90% LTV and was rejected on affordability, really peed off as was very happy with the product. There is no exit fee and you can come out of it at any time. My rate was + 4.19% obv due to high LTV, hope that helps.

Hi thanks , have you looked at the ING one , just seen it and I think they lend more x income than HSBC

johnwey

dannya1978 wrote: »

Hi, I applied for this product last night at 90% LTV and was rejected on affordability, really peed off as was very happy with the product. There is no exit fee and you can come out of it at any time. My rate was + 4.19% obv due to high LTV, hope that helps.

forgot to say , did you have to wait long after you applied online until they refused you ?

dannya1978

I applied over the phone took about 50 mins total, passed all affordability checks initially, got mortgage in principal, i knew my experian credit report was good (882), when he pressed the button to the systems underwriters computer, result was instant rejection on affordability. Credit score has now gone down to 821 (fair), at a loss now as to where to go.

dannya1978

johnwey wrote: »

Hi thanks , have you looked at the ING one , just seen it and I think they lend more x income than HSBC

ING max LTV 80%, I need 90%

efunc

the hsbc tracker looks pretty good to me at the moment. unlimited overpayments, daily interest calculation, no exit fees, no early repayment fees. they also seem to be willing to lend large amounts proportional to deposits. I wish the rate was lower though. In 2008 they offered me +0.76% @ 85% LTV. Now it's +1.99% at 70% LTV.

johnwey

efunc wrote: »

the hsbc tracker looks pretty good to me at the moment. unlimited overpayments, daily interest calculation, no exit fees, no early repayment fees. they also seem to be willing to lend large amounts proportional to deposits. I wish the rate was lower though. In 2008 they offered me +0.76% @ 85% LTV. Now it's +1.99% at 70% LTV.

even though I only need about 56% LTV , Im self employed and think by the HSBC Calculator they wont give me what im after , will this have an adverse effect on my credit rating for my next mortgage application if this one is refused . at the moment my rating is Excellent