HSBC Mortgage Offer - Able to reduce rates prior to completion?

tim1955

I have an HSBC mortgage offer @ 5.79% from December and I'm not yet at completion - is it possible to reduce to the current 5.29% rate easily?

Not sure how HSBC handles it and whether it is high friction or super easy.

billy2shots

Call HSBC and ask. 

When I last took a mortgage offer, I was told rates would be automatically revised down if the market improved but not up if it happens before my offered expired. i.e win win. 

That was 5 years ago though (10 year desl)

snowqueen555

Yeah they usually do. The thing is when I had a broker they would update it for me automatically, whereas the banks will not bother unless you do the leg work yourself to request. I have no problem with that, I check the rats almost daily like a hawk.

HatsofftoYou

I’m in a similar position with rates dropping from 4.94% to 4.54% with First Direct who are part of HSBC. FD’s policy is they will do the rate swap with out any checks if it’s within 30 days of the last check. However if 30 days have passed they will do a hard search and want new payslips, FD also cancel the current product in order underwrite the new rate/product. I wish once you had a product it would be a straight swap

kingstreet

I did two on Thursday. Upload an amendment form and a revised offer is issued.