Product Transfer - Change of Circumstances

abankerbutnotafatcat

Hello all, we have a 5 year fixed rate with HSBC that is coming to an end.
We have not missed any payments and have a very low LTV but, since we took the mortgage we have become self employed, and probably could not get our current level of borrowing.
Does anyone have any thoughts on our likelihood of getting a product transfer?
Apologies if this is too vague, I just wondered if anyone had a feel for how open HSBC are to product transfers.

Thrugelmir

Check online to see what options are available to you. Then no need for manual intervention at all. 

K_S

abankerbutnotafatcat said:

Hello all, we have a 5 year fixed rate with HSBC that is coming to an end.
We have not missed any payments and have a very low LTV but, since we took the mortgage we have become self employed, and probably could not get our current level of borrowing.
Does anyone have any thoughts on our likelihood of getting a product transfer?
Apologies if this is too vague, I just wondered if anyone had a feel for how open HSBC are to product transfers.

@abankerbutnotafatcat With respect to a product transfer with HSBC (or other mainstream lenders for that matter), as long as you aren't looking to borrow more or change term, your current circumstances don't come into the picture as there's no income checks, credit checks, underwriting or requirement to confirm that your circumstances haven't changed.

It's just a matter of a few clicks online in the online banking portal.

abankerbutnotafatcat

K_S said:

abankerbutnotafatcat said:

Hello all, we have a 5 year fixed rate with HSBC that is coming to an end.
We have not missed any payments and have a very low LTV but, since we took the mortgage we have become self employed, and probably could not get our current level of borrowing.
Does anyone have any thoughts on our likelihood of getting a product transfer?
Apologies if this is too vague, I just wondered if anyone had a feel for how open HSBC are to product transfers.

@abankerbutnotafatcat With respect to a product transfer with HSBC (or other mainstream lenders for that matter), as long as you aren't looking to borrow more or change term, your current circumstances don't come into the picture as there's no income checks, credit checks, underwriting or requirement to confirm that your circumstances haven't changed.

It's just a matter of a few clicks online in the online banking portal.

Thank you for this, it has really helped. I had wondered if they still assessed candidates for product transfer as I'm unfamiliar with the concept.

abankerbutnotafatcat

Thrugelmir said:

Check online to see what options are available to you. Then no need for manual intervention at all. 

Thank you. I'm feeling much better about this now!