HSBC Mortgage Product Transfer

tanole77

I am currently on a fixed deal with HSBC. It is going to expire early next year and I am now worried that with the new rules on affordability I am going to hit a problem. If I merely want to switch to a new product will they still go there all the hoops again using the new lending criteria? I called them and asked in a roundabout way and they said " we just see what products are available and send you the new product forms to sign" This sounded all to easy for me.
Or am I better off just letting the mortgage deal lapse and go onto the SVR . My rate would still go down then from 4.19 to 3.94
If I was to apply for a new mortgage even with higher salary now after 2 years, I dont qualify for the new amount that I need /already have with HSBC.
All comments and help much appreciated.
Thanks

Thrugelmir

There's no requirement to reapply. HSBC will use a number of factors to demand what products to offer you. At the very least you will default onto the SVR rate as detailed in your current product contract.