Where's HSBC's 5.39% 5-year fixed gone?

emujuice

oh dear!! we went into arrange this on monday and have not yet heard back from them and I can't get through. we haven't put any money down, which i presume means we won't get this rate! Is that true???

scottjack

I know HSBC are completely snowed under at the moment so it might just be a delay.

Woodgnome_2

If you didn't pay the £999 to secure the rate I don't think you will get it even if the mortgage is approved.

charlieandlola2007

There are no many conflicting messages around this. I was told that you can lose your £999 if you pull out of an application, but if they turn you down, they will refund the fee.

I also told (by their mortgage centre and by the Mortgage Manager at the branch) that as my mortgage had been approved (subject to valuation) and had been 'uploaded', the fee was reserved. I haven't had an offer yet though so we'll see.

I too dropped my cheque off on Wednesday which they've not cashed yet but have not returned it either.

Talk about stressful. I can't afford to go through with buying my husband out without this deal. Just want to be put out of my misery.

charlieandlola2007

Just thought I'd update you. I received my mortgage offer today and it was at the 5.39% rate so the advice about getting the cheque to them quickly worked - thank you.

emujuice

whereas we tried to push through the paper work and the fee, but the manager said it would be fine. He told us this week the underwriters had approved lending us the money (yey!) then took the fee - although did say he'd take it out of their own funds and we'd get them a cheque asap - but in the end we took it directly from our account.
the next day he phoned to say sorry, they couldn't do the 5.39% the best he could do was 5.73%, but it had a lower fee and he'd try and waive it.
After a bit of thought we'd still decided it was the best deal out there and he did indeed get rid of the fee.
over the 5 years it will cost us just over a grand more, which is a shame, but out of the 40000 we'll be paying, it's not that much, plus we'll have that as cash now, which will be handy.
a shame, but not the end of the world.
Survey next week - fingers crossed!!!

Woodgnome_2

Great news to see your mortgage has been approved C+L. I still haven't heard. Hopefully I will this week.

Woodgnome_2

It has taken two weeks but finally found out today that our mortgage has been approved. Yipee.

I feel like having a large glass of cold Chablis to celebrate.

sophieroebuck87

I work for HSBC Mortgages dealing with all the enquiries we are getting from exisiting and new customers...we are snowed under at the moment and especially with all the rates changing on friday...it is stressful indeed!

aliwali

sophieroebuck87 wrote: »

I work for HSBC Mortgages dealing with all the enquiries we are getting from exisiting and new customers...we are snowed under at the moment and especially with all the rates changing on friday...it is stressful indeed!

You must be the person to ask then!! If we applied for a particular rate will we still get that rate even though the rates have now gone up. I was told that if I got my paperwork back by 7th May that would guarantee the rate but wasn't sure how true this was.

Any insight greatly appreciated.
Thanks
Alison