HSBC 2.99% 5yr Fix

majendie72

Many thanks Dimbo,
I am allowed to overpay the 10% a year and have done so in the past. I may do again but as I have no immediate plans to move it does mean that any overpayments I make are "locked into" the house so will have to wait for wealthier times.

latecomer

harvey115 wrote: »

You might be better off paying an ERC and going on to the new deal. Check with the lender to see how much ERC you would be liable to pay if moving off to another deal.

thanks for the advice but its 2% so around £3,500-4,000 depending on whether its the original or current loan value. Either way its not worth paying off early - just checked the Ditch Your Fix calculator:

On a £170000 mortgage, currently at 5.39%, with a 2% early repayment charge
You'd need a new mortgage that's consistently below 0.45% to save


Or not

latecomer

Morgage_Confused wrote: »

Don't the mortgage offers normally last for 6 months. So you may be able to apply soon, get the deal and wait it out rather than paying any ERC

I thought it was 3 months but it may have changed as we've not looked a mortgages for ~4.5 years.

I have read a lot of cases where mortgages are offered in principle and then
rejected when the actual application is done so I doubt they would honour a deal like this is rates increased over the next few months. Mind you if they thought rates were going to go up then they probably wouldn't be offering this rate at all