Can anyone beat HSBC 5.39% fixed for 5 years

chrisholgate

Hi there,
I'm a first time buyer who has been approved for a HSBC 5.39% 5-year fixed mortgage on £155,000 towards a £173,000 purchase. This takes me close to the 90% LTV but I could put down a larger deposit if required. I'm 26 years of age and would be looking to take the mortgage over 25 years.

Now, to me this seems like the best deal out at the moment but I noticed that HSBC say they'll beat anyone out there so I'm wondering if anyone could point me in the direction of someone doing a better deal; it could save me a fortune!

The standard variable rate to me isn't an issue as I would be looking to move the mortgage after the 5 year period unless HSBC can give me a good renewal deal.

I would appreciate any advice whatsoever!

Chris

aah

whats the fee

epz_2

aah wrote: »

whats the fee

yeah, lots of these low offers have VERY high fees, less of an issue for you borrowing high amount over a reasonably long term but still an issue

emujuice

fee is £999 - I'm looking at this too. (Big fee since I was hoping on a no fee one from norwich and peterborough, but they're changing their minds about lending to us now...no final decision yet though). But 5 year fix might be sensible. they also have a 10 year fix at around 5.5% - but think you have to be a premier customer (?) fee is £499

nrsql

first direct do a 5 yr fixed offset at 5.39% with a £800 fee.

owitemisermusa

nrsql wrote: »

first direct do a 5 yr fixed offset at 5.39% with a £800 fee.

Closed to new business aren't they? I guess you could open a bank account and apply for the mortgage afterwards.

Reds-on-Sea

I'm sure they're only matching rates for people remortgaging with them. The criteria is quite strict. Basically, they're taking people whose fixed rates are coming to an end. They're quite particlar about who they're accepting with their rate matcher offer - I believe you need in the region of 75% ltv and have an excellent payment history to qualify. It's their way of getting lots of business from only the best borrowers, but getting great publicity in a time when everyone else is seen to be turning customers away. It's quite clever really. I'm also in the process of FTB-ing, mortgage with HSBC. I've gone for the fee free option tracker for life (no get out fee), but I have a plus account too so get slightly discounted rate. Their rates are pretty good, and the stuff that is included all adds up if you're an FTB - cost of valuation survey & fees etc. First Direct had a fantastic fixed rate going on, I'm also a customer and would've gone with it had they not quoted me at least 15 weeks to complete!!!

davidla

Reds - if you are referring to HSBC, they do have a 5.39% offer in addition to their Rate Matcher offer. 90% LTV.
David

Reds-on-Sea

ooops, sorry, I didn't think they were offering the rate matcher for new 90% LTV mortgages. In which case... darn, surely I coulda got them to match the First Direct offer... I dropped the ball there!

_Andy_

The rate matcher isn't so they'll match other companies existing offers, the idea is they will match the rate you're coming off (if this is before the end of June), for fixed rate mortgages up to 80% LTV.

davidla

davidla wrote: »

Reds - if you are referring to HSBC, they do have a 5.39% offer in addition to their Rate Matcher offer. 90% LTV.
David

Sorry - I meant the 5.39% is 90% LTV.
David