Nationwide 3yr tracker 0.74% above base rate

nh101

Re the HSBC tracker - is that the lifetime tracker? That looks good but can I move in the future without redemption fees? How long am I tied in for? I have 19 yrs left on mortgage.

3stripe

There's no tie in and no exit fee on any HSBC tracker as far as I know... I'm about to apply for the +.48% deal also - all of the HSBC products are coming in cheaper than anything my advisor has recommended so far!

nh101

Can you make overpayments on the hsbc deal?

hotcookie101

The HSBC tracker has no redemption or exit fees as said above, there is no tie in period, you can overpay as much as you want without penalty and it is portable if you decide to move. sounds too good to be true, i know, but I read all the small print before I signed on the dotted line (or in the box to be more accurate!)

nh101

Yes it does sound too good to be true. Have made an appt. They can't see me till May 14 though. Hope the deal isn't withdrawn before then! I could go to another branch but I am due to give birth to twins this weekend (Tuesday by the latest) which seriously affects my ability to get around!!

jediknightwarrior

Well done L&C, clients ask for trackers and you recommend a fixed rate! Not exactly TFC is it?

And as for Martin well, I sorry to say this because I know you've done a lot of good, but on this one...

Dan_Collins_2

jediknightwarrior wrote: »

Well done L&C, clients ask for trackers and you recommend a fixed rate! Not exactly TFC is it?

And as for Martin well, I sorry to say this because I know you've done a lot of good, but on this one...

If you read the L&C guy or gal was actually giving his/advice and saying they felt a fixed would be better than a tracker.

If a client asks for a tracker and you give it to them without talking about the climate your either not doing your job or giving info only.

We dont know how the convo went over the phone, I am guessing and only guessing that the OP may have said what do you think about trackers, or somtihing to that effect.

When BOE MC gang met, 1 was for a hold one for a .50% drop the rest for a drop. I think I heard of Mr King saying that rates may have to increase as its looks like we will go through the 3% inflation mark. So I think a fixed may be good advice in this climate. Does not mean that the client has to take the tracker.

_Andy_

nh101 wrote: »

Yes it does sound too good to be true. Have made an appt. They can't see me till May 14 though. Hope the deal isn't withdrawn before then! I could go to another branch but I am due to give birth to twins this weekend (Tuesday by the latest) which seriously affects my ability to get around!!

Why don't you just ring them and get it sorted over the phone?

jediknightwarrior

I'll give you that. We don't know how the conversation went. However, it's highly suspect to me.

I guess we should all take 25 year fixed rates then.

They could have marked the file as "advice declined" and arranged the tracker as per the clients wishes.

Gorgeous_George

Advise is just that, advice.

Mortgage brokers do not have crystal balls anymore than Joe at the pub has. Nobody KNOWs what rates will do in the future. The safe bet is to advise that a fixed rate is best. For many it is. Any muppet can give this advice.

Why do people ask for advice? Because they have lost the ability to make decisions for themselves and to suffer the consequences.

People need to get a grip of themselves and grow some balls - crystal or otherwise.

GG