Remortgage advice from HSBC then.....

hcb42

you are an old fossil :P

As you have access to the interweb, you can work out which one of 30 options fit with current lender. Then apply for one, or don't and apply for something else or stay put.

It doesn't need branch staff to assist as they don't advise!

Thrugelmir

GDJTAM wrote: »

As my first posting pointed out.....I'm a self confessed old fossil!

You are only 53. :eek:

dimbo61

Well most of the deals for Existing customers have a Booking fee !!
Now if you use "whatsthecost" to work out what is the best deal for you?
You could look at moving lenders BUT you need to consider ALL the Costs.
Maybe the Lifetime tracker at 2.69% no fee ?
Maybe the Lifetime tracker at 2.19% fee £229?
Maybe the Lifetime tracker at 1.99% fee £999?
Not advice just it might be cheaper than the 3.49% you are paying now

Simon11

laura_louise wrote: »

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...

This is also exactly what I do, I go in to arrange a appointment as it was less hassle than trying to book an appointment online or through the call centre. They are awful on the phones!

henm2

GDJTAM wrote: »

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.


Many thanks

I had a look on their web site just now - on the hsbc site simply click 'borrowing' and click 'compare mortgages' and put in your details in the relevant boxes

Currently assuming you want say a fee free deal they have in your circumstances of an LTV of 31% a 2 year Fixed Rate deal at 2.29% and a lifetime tracker of 2.19% over base rate. There are other deals available at cheaper interest rates but they have varying levels of fees depending on the particular offer. You just need to weigh up what suits you.

As someone mentioned before if you are not actually borrowing more it will be an 'execution deal' with the choice of offer being up to you with no actual advice and the staff will simply put you on the phone with their mortgage dept to arrange whatever deal you choose.

getmore4less

If you don't want to go through this again take one of the tracker rates.
(if you take advise then you may get pushed towards a fix as that ensures repeat business)

I have not checked but if these are the choices(picked out of post above)

Maybe the Lifetime tracker at 2.69% no fee ?
Maybe the Lifetime tracker at 2.19% fee £229?
Maybe the Lifetime tracker at 1.99% fee £999?

for 10years on £68k(is this the current ballance or the original loan?)
adding in the fees(assuming just the above for a product switch

3.49% £672pm
2.69% £647pm
2.19% £634pm
1.99% £635pm
(the last two are so close it will be down to the lenders calculations which is best)

With full details can do things like look at fee payback periods etc.

amnblog

If you quote Martin Lewis correctly he said 'speak to your mortgage advisor' not 'phone your bank'.

The kind of 'old fashioned' service you seek is not is not available where you are looking for it.

Engage an independent mortgage broker.

GDJTAM

Amnblog.. If you bothered to read my very first post introducing my issue I said and I quote " after seeing Martin Lewis on TV saying if your paying over 3% in rates then 'speak' to your mortgage advisor about reviewing your charges. Not once did I say 'phone' so own goal pal!

GDJTAM

As per the real, constructive advice given. My wife and I actually walked into HSBC today, was greeted customer service at the front desk, I explained my predicament and within 5 minutes I was sitting down with an advisor and 40 minutes later I'm sorted and pleased with my outcome.


Thank you very much for your help


So much better than spending 40 minutes on the end of a phone!

dimbo61

Glad you have got your mortgage sorted and hope you are now saving money by paying a lower rate !
Amnblog like all the posters on here is only trying to help you !
I am not a Mortgage Broker or work in the banking industry but have used mortgage broker to help me remortgage my home when the new MMR came into effect.
Many thanks to all the Mortgage brokers on here