Moving mortgage to hasten payoff- too much like hard work? 30 August 2015 at 5:06PM edited 30 November -1 at 1:00AM in Mortgages & Endowments 3 replies 711 views

wensday

We are almost 10yrs into our first mortgage.

A 2yr fixed then tracker. We intended to overpay when interest rates fell but didn't get around to it
So now we are 10yrs in and only paid 25% of it.

Thinking of swapping to a fixed, we could pay almost double what we currently do, after promotions in work etc.

Do I stick with HSBC and their offers, or move elsewhere?
I remember it being really difficult last time and signed up to all kinds with HSBC like life insurance and income protection etc.

Bit worried I will sign my life away again!

Thanks so much for reading.

Kantankrus_Mare

We are in the process of remortgaging with Nationwide for a 5 year fix.

Bit of a pain going through 3 hour interview with them wanting to know every little detail of our finances but she managed to save us £70 per month on our current mortgage so happy with that.

Of course we got the hard sell about what would happen if either of us were to get a serious illness or had an accident?

It would have cost us £67 a amonth for critical illness cover and she wondered why we declined.

Of course I can see it would be helpful if something terrible was to happen but we already have life cover and terminal illness cover for a lot less.

Just waiting for it all to be confirmed now.

We are probably in different position to you though. Have ten years left on mortgage in total.

Good luck with what you decide.

wensday

Thanks, we panicked at all the hard sell last time, we were only 22 and 24 and it was all a bit scary!

RavingMad

If you're not intending to change anything on your mortgage, then you should be able to choose a new product online without speaking to HSBC. I log on every month to see I qualify for a better rate and have changed products three times over two years.