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HSBC lifetime tracker fee saver
jiffajaffa
Posts: 5 Forumite
Hello there - first time poster and long time lurker on these boards!
I'm going to ring HSBC at some point for more information but would really appreciate some opinions on whether this mortgage is a good deal for me as my head has been in knots for days trying to work out the best deals.
I am shortly due to come out of a Natwest 5 year fixed (£448 a month). Using the HSBC online mortgage calculator I worked out that with £70,000 left to pay on a house worth approximately £110,000, my mortgage payments would be approximately £320 a month with a 2.64 initial interest rate.
From what information I can find online there does not appear to be any booking fee, nor any fee for over payments, which is highly attractive to me as I am in a position to make fairly substantial over payments every month. It is portable and there is also no exit fee so should the interest rates raise significantly I could switch to another mortgage for free.
The above all just seems too good to be true so I can't help thinking that I am overlooking something glaringly obvious? Any advice would be gratefully received :j
I'm going to ring HSBC at some point for more information but would really appreciate some opinions on whether this mortgage is a good deal for me as my head has been in knots for days trying to work out the best deals.
I am shortly due to come out of a Natwest 5 year fixed (£448 a month). Using the HSBC online mortgage calculator I worked out that with £70,000 left to pay on a house worth approximately £110,000, my mortgage payments would be approximately £320 a month with a 2.64 initial interest rate.
From what information I can find online there does not appear to be any booking fee, nor any fee for over payments, which is highly attractive to me as I am in a position to make fairly substantial over payments every month. It is portable and there is also no exit fee so should the interest rates raise significantly I could switch to another mortgage for free.
The above all just seems too good to be true so I can't help thinking that I am overlooking something glaringly obvious? Any advice would be gratefully received :j
0
Comments
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Are you managing this yourself, or getting a pool of opinion from people who have no credentials on here?
If you want to go direct to Lender you run the risk of 'getting it wrong'. If you are not confident you should engage a broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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