I see the mortgage rate war has continued with HSBC moving itself back to the top again...

IAMIAM

I regret fixing at 1.44% now, it is now 1.04

devon123

Their new 5 year fixed rate for 60% LTV is 0.99% with a 999 fee. 

devon123

I wonder how low they’ll go from here?! 

bmthmark

My mortgage rate comes to an end at the end of the month. I'm with HSBC and I originally fixed for another 5 years at 1.09%.
As you spotted, its just dropped to 0.99%, i'm hoping I can switch to that one now.  I have a call with HSBC later.
I do wonder how low the rates will go, i've never seen 5 year fixed being this low.

IAMIAM

Agreed. Well I have 18 months to wait to secure my next rate, here's hoping

devon123

bmthmark said:

My mortgage rate comes to an end at the end of the month. I'm with HSBC and I originally fixed for another 5 years at 1.09%.
As you spotted, its just dropped to 0.99%, i'm hoping I can switch to that one now.  I have a call with HSBC later.
I do wonder how low the rates will go, i've never seen 5 year fixed being this low.

HSBC seem to be one of the few lenders who offer current and remortgage customers the same rate. I hadn’t realised that until I came to remortgage a few months ago.
I’m remortgaging to HSBC and my broker applied for the new rate today. They said it could take up to 8 working days to get the rate changed. Fingers crossed!

IAMIAM

devon123 said:

bmthmark said:

My mortgage rate comes to an end at the end of the month. I'm with HSBC and I originally fixed for another 5 years at 1.09%.
As you spotted, its just dropped to 0.99%, i'm hoping I can switch to that one now.  I have a call with HSBC later.
I do wonder how low the rates will go, i've never seen 5 year fixed being this low.

HSBC seem to be one of the few lenders who offer current and remortgage customers the same rate. I hadn’t realised that until I came to remortgage a few months ago.
I’m remortgaging to HSBC and my broker applied for the new rate today. They said it could take up to 8 working days to get the rate changed. Fingers crossed!

I have been all over rates since the start of the year, and have become obsessed with it.

I find HSBC tend to match Nationwide existing customer rates all the time. I also tend to find HSBC also let most lenders change their rates and the tables stabilise then they blanket change al their rates again to push them back to the top. 

First Direct also usually change their rates exactly 1-2 weeks after any change HSBC does to align themselves, but with a £490 fee, they are always 0.1-0.15% more expensive in rates. 

devon123

Sounds like you’ve done a lot of research @IAMIAM!
I’m borrowing 96k so small rate changes don’t make a huge difference to me but thought I may as well apply for the lower rate. HSBC seem like a good lender though if I want to remortgage with them after the end of my next 5 year deal.
I’ve not been impressed with what NatWest have offered me considering it’s so competitive at the moment.

Arfa__

Dang! Just got our mortgage offer through from HSBC on a their 1.09% rate (5yr fixed). We've still no firm completion date yet, should I dare trying to reapply for their new product at 0.99%?

devon123

If nothing else is changing then I’d ask. Is it through a broker? I’m going through Trussle. They said it would take 8 working days to approve the new rate. So I assume it’s common to ask and it’ll be straightforward!

bmthmark

Arfa__ said:

Dang! Just got our mortgage offer through from HSBC on a their 1.09% rate (5yr fixed). We've still no firm completion date yet, should I dare trying to reapply for their new product at 0.99%?

Yes, this is exactly what I have just done. I originally signed up for the 1.09% but it doesn't start until 1st September. 
I contact HSBC and said I noticed the rates had dropped and I want to go on to the new lower rate.
They sorted out a telephone call and confirmed it in a 10 minute conversation. Documents came through via email and I digitally signed them and sent back.