End of fix - does it cost to switch?

Jodzz

Hi all

Sorry if these are silly questions, I had enough of a toil trying to get my head around mortgages, now remortgaging is coming around and I'm baffled again...

My fix with HSBC ends in December, so I know this question is premature, but I just wanted to know if I needed to get my finances in order...

At the end of my fix, I would probably like to fix again, will HSBC contact me with some deals or are they likely to just quietly move me onto their SVR? If so, anyone have any experience in how far in advance they contact you?

Also, I have been looking at their rates on their website for existing customers and have seen some that I like, so am fairly confident I will stay with HSBC.
- Am I remortgaging moving onto a new deal? Will I incur the 'remortgaging'/product fees etc if I'm just switching over from one deal to another?
- Are they likely to want to see my wages/income etc again? - Not a problem if so, just need to know if to start being frugal in the coming months.
- Is it a long process switching deals?

Thanks in advance for your help....

kingstreet

You aren't remortgaging, you are opting for a customer retention product.

There are usually no status checks required.

Quickly. Many lenders offer an online facility.

Jodzz

Thanks for the speedy reply, and a customer retention product, does it cost for me to transfer to one of these? Or is it dependent on product?

Will try and get into the next LTV bracket if I don't need to save for product fees to switch.

kingstreet

It's product dependent.

If you have a larger mortgage, a product with a fee will probably be sensible. If you haven't, it won't.

Jodzz

Brilliant, thank you for all of your help.