Mortgage Help Please

TheZebras

If anyone can help or offer advice I would be very grateful.

We have a mortgage with HSBC that has run out so we are on SVR. Can we just ask to move to another product that would work out cheaper and it just happens? No questions asked!

I'm asking because our financial situation is different from when we were first given our mortgage. We earn less and probably wouldn't get a mortgage now. So I'm worried that if we ask to move to a new product and the bank need current income details it might cause us problems. I don't want to rock the boat!

Or is that now we are with HSBC they'll let us gave whatever mortgage they offer (that our LTV% meets) without there being any problems?

Thank you for reading, and helping if you can!

shop-to-drop

Do you have internet banking? If so log on and look at your mortgage account you can click on changing your mortgage and it will tell you what is on offer to you as a current customer and can be all done online. We did this and was so simple give it a go.

Don't think you will have any problems as long as you aren't wanting to change the amount you want to borrow or the term.

Thrugelmir

Your mortgage has not expired. Your current product has. By default you will return to a lenders SVR or other rate as specified by the lender.

There's no further credit checking once you are with a lender.

However you may be required to pay a valuation fee if there's a question of the value of your property in relation to the new product being applied for. In terms of the LTV .