Anyone after a good tracker mortgage?

waynedance

http://www.esbs.co.uk/bank-base-rate-tracker.html

seems a good deal with low fees (well it is for me £50680 mortgage).

What do you think?

maveli

HSBC'S life tracker is +.23 above. 599 booking fee. no legal fee and early redemption charge

waynedance

maveli wrote: »

HSBC'S life tracker is +.23 above. 599 booking fee. no legal fee and early redemption charge

this would work out about £33 cheaper over the term (wow) by my calcs but only if there were no other fees apart from the £599.

Hsbc terms seem better than the deal i found, i will have to find out what if any extra charges there are extra.

earl shilton
hsbc
years 18
years 18

rate 5.55
rate 5.48

loan + added fees 50935
loan + added fees 51279

fees (not added) 150
fees (not added)

monthly rate 0.005
monthly rate 0.005

monthly payment 373.39
monthly payment 373.93

total to repay (at current rate)
total to repay (at current rate)

80802.70 earl shilton
80769.69 Hsbc

does that make sense?

waynedance

just used hsbc calculator and i could only borrow about £43000, that is no good on a £20500 basic.

guess this rules them out of the race, and looking at the key facts there is a £155 valuation fee + £30 Completion Fee so it would work out more than the other offer.

TEDDYRUKSPIN

From my calculations, unless you have no debt, you should be able to borrow around £82k.

Also, no valuation or completion with HSBC.

Shilton follows the banks bank of england. Don't think I would trust this as the banks bank of england? Not bank of england! Not repo rate

It is the bank of shilton's bank of england! Ha.

Dan_Collins_2

TEDDYRUKSPIN wrote: »

From my calculations, unless you have no debt, you should be able to borrow around £82k.

Also, no valuation or completion with HSBC.

Shilton follows the banks bank of england. Don't think I would trust this as the banks bank of england? Not bank of england! Not repo rate

It is the bank of shilton's bank of england! Ha.

??? Either its to late or I am missing it! Sasy bank of england on site.

Also a week of that product being put about they will have a shut down in underwriting and service will be shocking!

waynedance

ok, what do you mean about "Shilton follows the banks bank of england. Don't think I would trust this as the banks bank of england? Not bank of england! Not repo rate"

I thought this was the Bank Of England Rate?

I went through to the key facts on the HSBC site and it said there were fees as mentioned on top of the £599.
If there are no other fees it would be worth a go but only if the fees could be added to the loan.
Gonna give then a call, dam i have 3 banks calling on Monday all thinking they are setting the ball rolling really need to make my mind up soon.

Dan_Collins what do you mean by "Also a week of that product being put about they will have a shut down in underwriting and service will be shocking!"?

maveli

I just signed with hsbc. the only fee I paid is $599 + 30.

waynedance

maveli wrote: »

I just signed with hsbc. the only fee I paid is $599 + 30.

was that the +.23 tracker?

was it a smooth process?

Could you add the £599 to the loan? as rthere is no way i could pay it up front.

maveli

yes it is the +.23 tracker. very smooth process. No you have to pay 599 upfront. they will not add it to loan

waynedance

that rules that one out for me then, not got £599 to hand so looks like the Shilton one for me, works out about the same cost.

Is there a lower limit for the rate ie the rate will not fall below 4% ever.