We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
When you remortgage to HSBC with additional borrowing
Options

IAMIAM
Posts: 1,336 Forumite

Do they open up two separate accounts, if the incoming mortgage has two accounts, or will they combine?
If you remortgage to HSBC and want additional borrowing from them, do they open another account or do they just open one with the amount you want?
If you remortgage to HSBC and want additional borrowing from them, do they open another account or do they just open one with the amount you want?
0
Comments
-
They have 1 account for the current balance of the current mortgage and then a seperate one for additional borrowing.
They do exact like for like remortgages so if you apply for £150,000 and the solicitor reports your balance on redemption to be £149,870 then they only release £149,870.
They then have a separate account for additional borrowing. All funds get released at the same time and a single payment comes out but internally they have 2 accounts.
1
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards