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HELP 2yr fixed or lifetime tracker with HSBC??
qwertyqwerty
Posts: 143 Forumite
Hi
I am looking to apply for a mortgage with HSBC. The two options i am looking at, with 80% LTV are 2yr fixed with rate of 3.49% and booking fee of £599 or lifetime tracker with same rate and same fee.
Obviously the fixed rate gives me the security of knowing what I will be paying for the next two years, but the the tracker has no exit charges, no early repayment charges so if the base rate doesn't move in the next 5 yrs then this would be the mortgage to go with?
Any thoughts?
I am looking to apply for a mortgage with HSBC. The two options i am looking at, with 80% LTV are 2yr fixed with rate of 3.49% and booking fee of £599 or lifetime tracker with same rate and same fee.
Obviously the fixed rate gives me the security of knowing what I will be paying for the next two years, but the the tracker has no exit charges, no early repayment charges so if the base rate doesn't move in the next 5 yrs then this would be the mortgage to go with?
Any thoughts?
0
Comments
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Why not a longer-term fix?
What is the follow-on rate of the short term fix?Thinking critically since 1996....0 -
The longer term fix is at 3.79%, not too comfortable with the additional payment on the 5 yr fix. The SVR after the two year fix has expired is 3.99%0
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The SVR might be 3.99% if rates generally are still the same in two years' time.
There's nothing to say the SVR won't be higher.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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