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

IAMIAM

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

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

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