HSBC Internal rate switch questions

Mishomeister

My current HSBC fixed mortgage runs out in October and as a result I have two questions:
1. During their rate switch process do the yask if my circumstances have changed since the last time I have appled for a mortgage with them. If my answer is yes and under my new income I do not qualify anywhere near for their mortgage, what happens then? Am I forced to stay on their SVR bearing in mind hat on my current income no one will take me?
2. The second question is, I know it is posible to agree a switch deal with them 3 months in advance. Is there a potential option to agree a deal but if a better rate came up with them within those 3 months of waitin, to change my mind and go for that better deal?

Many Thanks

OXFORD_SMOGGY

Im in the same boat, at the moment I think it is worth waiting as all the rates seem to be coming right down and likely to get better. My HSBC runs out in August and Im waiting.

westv

This may be relevant

http://www.whathouse.com/mortgages-and-homes/hope-for-mortgage-prisoners-after-landmark-court-ruling/

Mishomeister

But the question still remains if HSBC ask the question about the change of circumstances and if so do they actually ask for any evidence?

Thrugelmir

westv wrote: »

This may be relevant

http://www.whathouse.com/mortgages-and-homes/hope-for-mortgage-prisoners-after-landmark-court-ruling/

Devil is in the detail. "Lower rate" is a subjective term. Suspect this particular mortgage was a legacy HBOS interest only one.

Thrugelmir

Mishomeister wrote: »

But the question still remains if HSBC ask the question about the change of circumstances and if so do they actually ask for any evidence?

Apply online. Avoid human contact. Is the most straightforward way.