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Stick with HSBC or remortgage to First Direct?
Amy56
Posts: 58 Forumite
Hi all:)
I'm currently looking at extending my mortgage term slightly (from 12 years to 15), changing my life time tracker to a better one & possibly increasing my debt by £10k for home improvements.
My current mortgage is with HSBC and the new rate on offer is 1.69% above base, and the First direct is 1.29% above base, but I would need to open a First Account with them (but this would only need to fund the mortgage through it, it's not necessary for me to switch banks).
I am swaying towards First Direct, not just because of the rate, but becuase the people I've spoken to have been much more approachable. Everytime I've dealt with HSBC ive always felt like they have been doing me a favour and have spoken down to me - making me feel as though my loan isn't going to be approved (there is no reason that it wouldn't be, and indeed everything so far has always been fine) - Whereas First Direct have been really friendly and made me feel like I would be a valued customer, and have made me feel much more confident about the whole thing.
I know I probably sound really daft, and look like I'm letting a pleasant voice on the end of the phone dictate what mortgage I take out!:rotfl: - so I guess my question is - is there any reason that you think I should stick with my existing lender? Has anyone had a good/bad experience of either company?
I currently have two mortgage application phone calls booked - one next week with HSBC and one in three weeks with First Direct - which would you cancel?
Many thanks for any thoughts
I'm currently looking at extending my mortgage term slightly (from 12 years to 15), changing my life time tracker to a better one & possibly increasing my debt by £10k for home improvements.
My current mortgage is with HSBC and the new rate on offer is 1.69% above base, and the First direct is 1.29% above base, but I would need to open a First Account with them (but this would only need to fund the mortgage through it, it's not necessary for me to switch banks).
I am swaying towards First Direct, not just because of the rate, but becuase the people I've spoken to have been much more approachable. Everytime I've dealt with HSBC ive always felt like they have been doing me a favour and have spoken down to me - making me feel as though my loan isn't going to be approved (there is no reason that it wouldn't be, and indeed everything so far has always been fine) - Whereas First Direct have been really friendly and made me feel like I would be a valued customer, and have made me feel much more confident about the whole thing.
I know I probably sound really daft, and look like I'm letting a pleasant voice on the end of the phone dictate what mortgage I take out!:rotfl: - so I guess my question is - is there any reason that you think I should stick with my existing lender? Has anyone had a good/bad experience of either company?
I currently have two mortgage application phone calls booked - one next week with HSBC and one in three weeks with First Direct - which would you cancel?
Many thanks for any thoughts
0
Comments
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First Direct have a very good reputation. The only thing I would say is that FD are part of the HSBC group, so I am not sure you would be able to remortgage to them.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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First Direct have a very good reputation. The only thing I would say is that FD are part of the HSBC group, so I am not sure you would be able to remortgage to them.
I did ask that question and was told it wouldn't be a problem - hopefully that will prove to be the case - thank you though:)0 -
Shouldn't be a problem. They're a totally different bank.0
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