HSBC match your expiring fixed rate mortgage deal

fish10

I've heard that for the next 5 weeks HSBC are offering to match your fixed rate deal (down to 4.54%) if your deal is finishing this year. Our 4.05% deal finishes in September and we were planning on using most of our savings to pay off the mortgage, but using MSE's calculator we might be better off going for this deal. There is a big BUT, an arrangement fee of up to £999. I wonder if that would wipe out any advantage?
Hope this is useful to some of you and any thoughts on my own situation will be gratefully received. Thanks

02skn

Just watched the lunchtime news and an expert on the program said the arangement fees could be as high as £4995. It all depends on the amount you put down. Max ltv 80%

setmefree2

Hi
I don't think that's right the BBC have between £599 and £1k

The following was from the press release:-
From April 14th HSBC mortgage offers will include a 5 year fix at 5.39 per cent with a fee of £999, a 2 year discount mortgage at 5.43 per cent with a £999 fee and a remortgage lifetime tracker at 5.73 per cent with a £599 fee.
Rate Matcher examples:



All The Best

SMF2

fish10

An HSBC spokesman reported to the Guardian that most people would pay around £599 arrangement fees and gave 2 examples:
£120,000 at 4.94% fee £999
£190,000 at 5.19% fee £599

Welshlassie

Your deal need to run by June this year to qualify for this offer.