Transferring products during fix

Broneck

Hi, wonder if anyone can help with this.
I currently have HSBC 5 year fix with 16 months remaining on the deal.
I want to move to a new rate with HSBC immediately - it will reduce monthly payments significantly even if I pay the Early Repayment Charge, provided I can get a better LTV valuation.

Am I likely to be able to switch to a new rate with HSBC though I am so far away from my fix ending? And will I need to go through a full application process to get the benefit of a lower LTV?
Added complication: I am starting a new job (permanent, slightly higher salary) in a month's time - will that cause me any problems?
Thanks!

glosoli

I would be suprised if they allowed the breaking of an existing contract and incurring the early repayment charge to happen as a "short form" process, its highly likely to be a full application process with all that this entails.

cwal

They let me do this a couple of years ago. I phoned up, said what I wanted to do and they did a computer check on the value of the property. They then sent me the documents in the post to sign and set a switch date (at which point the erc was payable) and that was that. I was about half way through a 5 yr fix when I did this and the savings far outweighed the erc.