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HSBC Vs Coventry
Goodtimes_3
Posts: 2 Newbie
Help!
Our fixed rate term with the HSBC is about to end and we're looking to remortgage. Our new mortgage will be for £40,000. We can get a 5 year Fixed Rate Offset Mortgage with the Coventry for no fee. It allows a 5% per year overpayment on the balance and the rate is 6.25%. The HSBC can also offer a 5 year fixed rate mortgage, but it has a set up fee of £499 and the rate is 5.73%, it allows a 20% per month overpayment on the montly payment. We will be able to make both the Coventry's yearly 5% or the HSBC's monthly 20% overpayment. Which would offer the best option?
many thanks in advance.
Our fixed rate term with the HSBC is about to end and we're looking to remortgage. Our new mortgage will be for £40,000. We can get a 5 year Fixed Rate Offset Mortgage with the Coventry for no fee. It allows a 5% per year overpayment on the balance and the rate is 6.25%. The HSBC can also offer a 5 year fixed rate mortgage, but it has a set up fee of £499 and the rate is 5.73%, it allows a 20% per month overpayment on the montly payment. We will be able to make both the Coventry's yearly 5% or the HSBC's monthly 20% overpayment. Which would offer the best option?
many thanks in advance.
0
Comments
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HSBC. But remember to check the early repayment charges of both deals and also ensure they are both portable.
You also should do a comparison of the benefits i.e. does one have free legal fees and the other mean you have to pay a solicitor?I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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