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HSBC Mortgage Application - Another Self Employed App Declined
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Though not as good as HSBC's.0
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Thrugelmir wrote: »Though not as good as HSBC's.
HSBC's rate is surely not relevant if the OP is not eligible for the mortgage?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The products are not identical.
HSBC offered no upfront fees and a tracker rate for the term of the mortgage. Tracker rate is .5% higher than the other product.
The other, charged upfront fees and tracker rate lasts for 2 years before adjusting upward to a variable rate (almost 2% higher than current tracker rate). However I can re-mortgage without penalty at this 2 year mark.
The HSBC product is the more attractive, even if the initial tracker rate (for first 2 years) is higher however unfortunately they don't want to lend to me.0
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