Should I have a longer period than 1 month to accept mortgage offer?

barney1234_2

We have an offer from HSBC for a re-mortgage but I was surprised that we only have one month to accept. I was hoping that we would have say three months grace and we could monitor the marketplace in that time before making a final decision.

We will be moving onto a SVR of 2.99% at the beginning of August (at the end of a 5 year fix). The HSBC mortgage is the lifetime tracker + 1.89% deal with no fees. I'm wondering if the tracker rates may actually drop a little more over the next few months....hence reason for wanting to watch and wait.

Interestingly our original 5 year fix offer was held open for 6 months.

Mortgage is £175,000. 12 year repayment term. LTV approx 40%.

Am I likely to get an extension to the offer time if I approach HSBC?

nomoneytoday

IMHO the HSBC deal is one of the best around, so they can be picky and choose their own game rules.
Still the odds are 50/50 on an extension - they can say yes or no

barney1234_2

Thanks. I'll give them a call and see what they say. Hopefully they'll want to keep our business....