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HSBC Rate Switch and Addttional Borrowing
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IAMIAM
Posts: 1,336 Forumite
Hi,
HSBC Rate Switch and FA Application - Both done separately on same day by myself.
Rate Switch Done and Fee added to balance.
Further Advance was awaiting valuation, which is now complete, no issues.
Same product for both. 4.74% Tracker. £999 Fee.
Rate Switch to complete 1st July 2025.
Further Advance offer letter is probably out this week.
1. Can I change product on both if needs be right up to 1st July and get a refund of fee paid (it has been added to my balance already) and pick another product. Is this two brand new applications I have to do - cancel both applications and start again? I don't want numerous credit searches.
2. Can I delay my FA funds being released by a month or so. Say 1st August or 1st Sept instead - the max 6 months basically. Or do both accounts need to drawdown and switch on the same day?
3. If I were to change the term on both AFTER everything has completed - September time, will this result in both accounts amalgamating - this happened to me two years ago and I am hoping I can do this again....
Thanks,
HSBC Rate Switch and FA Application - Both done separately on same day by myself.
Rate Switch Done and Fee added to balance.
Further Advance was awaiting valuation, which is now complete, no issues.
Same product for both. 4.74% Tracker. £999 Fee.
Rate Switch to complete 1st July 2025.
Further Advance offer letter is probably out this week.
1. Can I change product on both if needs be right up to 1st July and get a refund of fee paid (it has been added to my balance already) and pick another product. Is this two brand new applications I have to do - cancel both applications and start again? I don't want numerous credit searches.
2. Can I delay my FA funds being released by a month or so. Say 1st August or 1st Sept instead - the max 6 months basically. Or do both accounts need to drawdown and switch on the same day?
3. If I were to change the term on both AFTER everything has completed - September time, will this result in both accounts amalgamating - this happened to me two years ago and I am hoping I can do this again....
Thanks,
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