2.49% lifetime tracker with first direct?

puregeordie

I went through the whole re-mortgage application over phone etc and got accepted by HSBC for this deal 1.99% lifetime tracker. I have 35% LTV. Also my first dealings with HSBC,

I cancelled the mortgage application in the end because they didn't know what they were doing and poor customer service.

Reason, Because they took the photocopies of all my payslips and ID etc in the bank as usual for this application, sent eveything off etc and then a week later they said that they couldn't read the copies and didn't have any ID from me.

I couldn't be bothered the trundle back into the bank and do it all again.

Also couldn't understand the mortgage underwriters (foreign voice) and they were also rather unhelpul in my case.

Wouldn't go through a mortgage application again with HSBC, A total farce IMO.

lionelator

puregeordie wrote: »

I went through the whole re-mortgage application over phone etc and got accepted by HSBC for this deal 1.99% lifetime tracker. I have 35% LTV. Also my first dealings with HSBC,

I cancelled the mortgage application in the end because they didn't know what they were doing and poor customer service.

Reason, Because they took the photocopies of all my payslips and ID etc in the bank as usual for this application, sent eveything off etc and then a week later they said that they couldn't read the copies and didn't have any ID from me.

I couldn't be bothered the trundle back into the bank and do it all again.

Also couldn't understand the mortgage underwriters (foreign voice) and they were also rather unhelpul in my case.

Wouldn't go through a mortgage application again with HSBC, A total farce IMO.

So you had a market leading rate available to you, and decided that a second trip to the bank and hearing a foreign voice put you off. Aye, you showed them.
Someone doesn't know what they're doing, but it doesn't sound like HSBC. Things happen, copies get lost, smudged, whatever, if you can't make 2 trips to the bank when sums of money likely going into at least 10s of thousands of pounds are at stake, well...
Of course, its very very unusual that you were actually speaking directly to an underwriter. Im going to go out on a limb and say you've left some key details out of your post, doesn't sound like the only hiccups were you needing to go back to the bank.

puregeordie

lionelator wrote: »

So you had a market leading rate available to you, and decided that a second trip to the bank and hearing a foreign voice put you off. Aye, you showed them.
Someone doesn't know what they're doing, but it doesn't sound like HSBC. Things happen, copies get lost, smudged, whatever, if you can't make 2 trips to the bank when sums of money likely going into at least 10s of thousands of pounds are at stake, well...
Of course, its very very unusual that you were actually speaking directly to an underwriter. Im going to go out on a limb and say you've left some key details out of your post, doesn't sound like the only hiccups were you needing to go back to the bank.

Nope, I'm holding nothing else back. That's it in a nutshell.

Not going to deal with them.

They even rang me back but not the underwriters this time, this was the bank I went to who took the copies and said why are you cancelling it because I cannot see anything wrong. All your details are on the system and I can read them so I do not understand.

I said the underwriters have wrote to me and asked for the information again because they cannot read the copies.

So I told both parties this and told them to resolve their differences, I was told I would get a phone call about this.

Nothing happened so like I said I just gave up in the end.

Anything else you would like to add please

dorset_nurse

I was quite happy with the service I got from HSBC. Due to take over from Nationwide next month.
They let me remortgage early (7 months before the end of my deal), at the 1.99% above the Bank of England rate for the remaining 19 years of the mortgage I have. (I was worried about keeping my job at the time).
I must admit it was all a bit long-winded and I had to go to two appointments at the bank to sign everything after the first but it was no big problem.

They let you make unlimited overpayments without charge, however you cannot take payment holidays or draw back ony of your payments once they are made.

I think they now do a slightly better deal (2.39%) if you have 60% LTV.

dirk_

This is the same product we are on, 1.99% + 0.5% Base rate, with HSBC

Been on it for 1 year and we pay over double the required mortgage amount so to lower the term and overall interest paid

Wish we started overpaying years ago

dorset_nurse

I have been overpaying on my old deal with Nationwide but I am actually stopping now as I am making more on my savings with the mortgage interest rate so low. If it picks up I will pay off a lump sum though.

Amy56

Interesting post about smudged documentation.

We are soon to complete on our remtg to HSBC and whilst the initial person I spoke to on the telephone was excellent, he actually warned me that the HSBC branches 'weren't very good' at collecting the ID etc and he specifically told me what they should take from me in the branch and basically told me to tell them how to do their job.;)

He was right too!! I had to talk through the photocopies the branch needed and tell them about a form that they had to fill in for the underwriters. A week later I had a letter from HSBC saying I needed to take the ID in again - I rang to find out why and it turns out the branch hadn't annotated the photocopies correctly.:((wish the initial man had told me that bit too - and I could have told the staff that as well first time round!!;))

I must say I wasn't impressed about having to repeat my branch visit, or 'training' the staff myself for a second time. But as a previous poster had pointed out - for a great rate I think I'd have been cutting my nose off to spite my face if I had pulled out at that point!;)

bhindi

I have my meeting tomorrow, I hope my branch has their act together more than yours then Amy56.

Amy56

bhindi wrote: »

I have my meeting tomorrow, I hope my branch has their act together more than yours then Amy56.

We are in Exeter - I hope your branch is better!!!;)

Just make sure they photocopy everything you have been asked to provide (and they must stamp it and sign to verify they have seen the originals) plus in your paperwork you should have been given a top sheet for the Underwriters (It just looked like a checklist of items being sent) and the branch needs to fill that in and put it on top of all your documents when they send them to the Underwriters. I think that was it - not sure why they found it so difficult tbh!!;)

Hope it all goes well tomorrow - good luck:)

CopperPlate_2

I complete a re-mortgage to HSBC on Tuesday - less than a fortnight after I applied over the telephone - so am very impressed so far with the way in which it has all been done. We took our own photocopied ID to our local branch to send off (apparently it would be quicker than posting it) and I've spoken to their mortgage contact centre twice about a couple of queries I had, both of which were answered in the UK and by really helpful staff.

I currently have my mortgage with first direct but at around 0.5% less interest rate, totally fee-free and no tie in, lifetime tracker at 2.59% (2.09% above base at 69% LTV) fd couldn't match it despite me asking them to (and with vast majority of my banking with them, why not?)! And, fd are kindly charging me £150 to close my mortgage account with them too, which does taint my opinion of them slightly, given HSBC aren't charging any mortgage closure fee at all should I decide to move later.

All in all, a positive experience with HSBC mortgages so far.