Applying for a 5 year fix to complete in April

d70cw6

Hi
Im wanting to do the HSBC 1.99% 5 year fix apply now and complete on 01 April (no joke!).

Does the 5 year term start when the application is made or when the mortgage application completes: i.e. will it last to Dec 2021 or April 2022??

Thanks

lee111s

You'd need to ask HSBC. Some mortgage products have end dates whilst some start the term from completion.

muhandis

As per the HSBC website the introductory rate of 1.99% will end on 31.12.2021

http://www.hsbc.co.uk/1/2/mortgages/products?pcode=A004046446000000000000000000

d70cw6 wrote: »

Hi
Im wanting to do the HSBC 1.99% 5 year fix apply now and complete on 01 April (no joke!).

Does the 5 year term start when the application is made or when the mortgage application completes: i.e. will it last to Dec 2021 or April 2022??

Thanks

AnotherJoe

d70cw6 wrote: »

Hi
Im wanting to do the HSBC 1.99% 5 year fix apply now and complete on 01 April (no joke!).

Does the 5 year term start when the application is made or when the mortgage application completes: i.e. will it last to Dec 2021 or April 2022??

Thanks

It certainly wont be from when the application is made. It could either be 5 years from acceptance, or even 5 years from some nominal date that the clock has already started ticking on, so it would be closer to 4 1/2 years by the time you started on it.

There's been a few posters here caught out by these type of deals where X years can mean "X years from the time we made this offer available" and the posters assumed it meant 5 years from when the mortgage started. You need to look at the detail.

EDIT I see Muhandis beat me to it and with detail

d70cw6

cheers all

applied for it anyway: there's no booking fee for doing so so will just hold onto the offer and see the state of play come March.