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!

Bank of England reduced the rates, but HSBC increased the mortgage rate, why?

Options
2»

Comments

  • IAMIAM
    IAMIAM Posts: 1,334 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    Same situation. My rate also expires 1st July. I will be securing the 4.75% tracker in my opinion, i presume it will be 4.5% in July following another cut...same as current fix rates, gives me some flexibility to secure a fix as and when I need to.....
  • zAndy1
    zAndy1 Posts: 258 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    IAMIAM said:
    Same situation. My rate also expires 1st July. I will be securing the 4.75% tracker in my opinion, i presume it will be 4.5% in July following another cut...same as current fix rates, gives me some flexibility to secure a fix as and when I need to.....
    Hadn't considered a tracker I've been looking at fixed rates but another .25% base rate cut and the rate on a 2yr tracker would drop below the current 2yr fixed rate I can get and the consensus of opinion is that there are more cuts to come. 2yr tracker currently £9pm more than 2yr fixed (both fee free) but nearly £40pm more than the 5yr fixed rate I can get. Hmmm got me thinking now, really can't decide whether to fix for 2 or 5 years or go for the tracker instead , anyone got a crystal ball? 🤣
  • IAMIAM
    IAMIAM Posts: 1,334 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    edited 7 February at 7:29PM
    I will 100% secure the 4.75% 2 year tracker with HSBC now to rate switch 1st July. I will 99% be sure it is 4.5 or even 4.25% by then. I will then ride out viewing fixes drop over the next year or two and then secure a fix when they are much lower than trackers again
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.