Remortgage advice from HSBC then.....

GDJTAM

Am I an old fossil or is there still people with faces to a voice?


I have 10.5 years left on my mortgage, aged 53 and after seeing Martin Lewis on TV saying if your paying over 3% in rates then speak to your mortgage advisor about reviewing your charges.


So, I telephoned HSBC today as my SVR is 3.49% on a 68000 mortgage against a house value of £215K.


When I got through I asked if I could make an appointment at my local branch to review my mortgage options. Thinking this was a simple task of 'how's next Tuesday 4pm suit', I was so wrong.


I was told by the person on the other end (couldn't understand her accent that well) that I can switch over the phone. "to what?" was my reply, I was then guided to HSBC's mortgage rates where I had over 30+options.


I asked the advisor if I could go into the branch and speak face to face with an advisor along with my wife.


"No" was the answer and I "didn't need my wife to change the mortgage plan".


I apologised that I kept asking her to repeat herself but I couldn't grasp her accent, therefore in addition to that I also wanted a 3 way conversation to review our mortgage.


No joy, either over the phone or apply online without advice!


Now surely, with such a big loan and a country full of people in debt, a sensible meeting with either a branch mortgage advisor or if they still have them, a branch manager would be warranted?


Are all high street lenders operating this method or do I just source a IFA to come out and see me?


It's a shame because I have until this point received excellent service from HSBC.


Many thanks

betmunch

Sounds about right.

Banks want clients to go the execution only route as its cheaper for them.

Totally against the spirit of MMR but what can you do?

Contemptuous

Have you tried calling your local branch directly to make an appointment?

Thrugelmir

GDJTAM wrote: »

I was then guided to HSBC's mortgage rates where I had over 30+options.

May take a little of your time but should be possible to whittle the list down.

GDJTAM

Contemptuous Thanks for your replying, after talking to the 0800 HSBC mortgage line, I searched for the local branch number on the HSBC website....no joy, I telephoned a 0843 contact number given on the same page and was told I could not phone direct but could go in and speak to a representative at the counter. Only other option was to phone the 0800 I had originally called.

ViolaLass

What do you expect the in-branch person to do to help you choose that you couldn't do by looking at the list of options yourself?

GDJTAM

Hi ViolaLass, many thanks for your posting, good question and I understand your thought process but customer service would be nice as I've invested thousands with HSBC so it would be nice for a human to be in front of me and my wife, explain our options including savings on different products and be there if either of us have questions. I am not a financial wizard and know everything about the financial world so having an official in front of us prepared for any question would be better. They would also be able to have access to our records for an add on products that may be offered in conjunction with the mortgage. I also don't fancy having a 45 minute phone call asking loads of questions with a phone next to my ear and repeating it to my wife or having loud speaker on. Having already had a 10 minute conversation with a person that I couldn't understand, I wouldn't fancy being rude for 45 minutes if that were to happen again. Apart from that I'm probably old school and like doing important business alongside my wife in front of a human being. As my first posting pointed out.....I'm a self confessed old fossil!

laura_louise

I found the best way of dealing with HSBC is to physically go in and request an appointment. When i had significant savings i had my own financial advisor at the branch who would periodically call me in for meetings to discuss exactly this kind of stuff... although annoyingly i couldn't arrange this over the phone and had to go in to book the appointment. Go in and ask to speak to their advisor...

GDJTAM

Hi Laura-Louise, I will go in as advised and attempt to book an appointment. Many thanks

10pence

Use to work for HSBC and only option is to go into the branch and request an appointment. The days on being able to call your local branch are long gone with them.

It's worthwhile noting that HSBC can only offer you an HSBC mortgage. So might be a good time to see what else is on offer with other lenders, especially as you mentioned you want to review all accounts.

ViolaLass

I second that.

Someone working in HSBC will not be the best person to ask for advice on which savings account etc you should get. They're there to sell you products, not advise you financially in an impartial way.