📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

HSBC Mortgage Application - Another Self Employed App Declined

Options
13»

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Though not as good as HSBC's.
  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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 Adviser
    You 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.
  • darrinm81
    darrinm81 Posts: 84 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    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.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.