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tracker advice needed
buzi
Posts: 139 Forumite
im considering remortgaging from halifax svr 3.99% to hsbc lifetime tracker fee free 2.99% - outstanding mortgage of 20,000 - am i mad to do this should i switch to another halifax product - i have checked the mse calculator and i would be paying less with hsbc but is it wise to switch to a tracker
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Comments
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HSBC may decline such a low mortgage balance.0
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Thrugelmir wrote: »HSBC may decline such a low mortgage balance.
I think this may be correct. i have heard that lenders don't allow a switch unless you have at least about 50K left to pay. Apart from that trackers are fine as long as you have some spare cash in case the interest rates go up. I am currently paying 0.77% but I always either make overpayments or put the extra aside so that I can't spend it on luxuries. currently it is going into buying a new kitchen which benefits the property.0 -
thanks - i dont see any mention on the hsbc website about a minimum loan limit but i have seen other lenders mention it in the small print!0
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