HSBC tracker - no ERC - is this correct

aoleks

hi all,

very quick question:

Tracker Mortgage | Variable Rate Mortgages - HSBC UK

our fixed rate mortgages comes to an end this year. we can switch our product to either a fixed or tracker product. based on the link above, am I correct in thinking that HSBC's tracker mortgage doesn't have any early repayment charges? in other words, I "fix" a tracker rate (which is in fact variable) for let's say 2 years, but if in those 2 years we want to re-mortgage and secure a better rate, I can do so penalty free, right?

thanks

housebuyer143

aoleks said:

hi all,

very quick question:

Tracker Mortgage | Variable Rate Mortgages - HSBC UK

our fixed rate mortgages comes to an end this year. we can switch our product to either a fixed or tracker product. based on the link above, am I correct in thinking that HSBC's tracker mortgage doesn't have any early repayment charges? in other words, I "fix" a tracker rate (which is in fact variable) for let's say 2 years, but if in those 2 years we want to re-mortgage and secure a better rate, I can do so penalty free, right?

thanks

You need to look at the individual product to see if it has ERCs. If not, then yes you can leave whenever but you normally pay a fee to redeem the mortgage.