HSBC 1.99% Lifetime Tracker via Premier ?

2Sheds

Look at going to for the HSBC deal, by opening a Premier account with £50k invested with them, as they'll let me have an interest only mortgage.

Anyone used this method, if so did it work out and how long did it take. Don't want to delay the chain we're in !

libf

Are you sure that an interest only mortgage is a good idea?

2Sheds

libf wrote: »

Are you sure that an interest only mortgage is a good idea?

For my situation Yes

TrickyDicky101

libf wrote: »

Are you sure that an interest only mortgage is a good idea?

One could argue that for a rational, financially astute borrower, an Interest Only mortgage (inter alia all other terms remaining the same) is always the best idea.

Since very few of us fall into such a definition though (myself included) it is rarely the case.

2Sheds

Amazing we might actually be signing this off on Friday.

Usual stuff where they get everything say one thing and then remember what they forgot to ask you to do !

sebtomato

libf wrote: »

Are you sure that an interest only mortgage is a good idea?

For people managing their finances properly, it can be.

I have an interest only mortgage, but I am making capital repayments each month. However, I like the fact that, if I lose my job or have some troubles, I can reduce my minimum payment to the interest part only (and the bank can do nothing about it), making keeping my home cheaper than renting (for a while).