First time buyer tracker mortgage

djdaface

Just wondering If anybody knew of a better deal than this

£205,000 Value property
£21,000 deposit

HSBC Life time tracker (base rate + 0.89%) no fee's to pay on entry or exit.

Seems to be the best around but thought id check with the experts :T

mr_mortgage

HSBC do seem to have the best trackers around at the moment - just a few weeks ago they were offering REPO + 0.38% for their lifetime tracker, but unfortunately nothing close to that is available at the moment.

_Andy_

Woolwich have BBR+.74 but you'll have to pay a fee. Personally I think the HSBC tracker is a great deal and will give you plenty of flexibility.

mr_mortgage

_Andy_ wrote: »

Woolwich have BBR+.74 but you'll have to pay a fee. Personally I think the HSBC tracker is a great deal and will give you plenty of flexibility.

Not at 90% LTV (which the OP needs) though... he'd be on BBBR+1.29.

I'd also much prefer to be on REPO + x rather than BBBR + x.

HSBC do look like the winners for trackers at the mo'.

_Andy_

Good point on the LTV, that'll teach me to skim read.

TEDDYRUKSPIN

0.89% + B.O.E. You will have to subscribe to HSBC plus account at £12.95 for 12 months though!!!!!

mr_mortgage

TEDDYRUKSPIN wrote: »

0.89% + B.O.E. You will have to subscribe to HSBC plus account at £12.95 for 12 months though!!!!!

Ouch. Didn't see that.

Lucky I got in there a few weeks ago with REPO+0.38%!

MrM.

Reds-on-Sea

TEDDYRUKSPIN wrote: »

0.89% + B.O.E. You will have to subscribe to HSBC plus account at £12.95 for 12 months though!!!!!

I take it the plaus account gives you an extra 0.1% off your %+BOE. It's a
slightly different deal to+ what I got about 2 months ago, but was borrowing pretty much exactly the same amount/LTV etc etc, with HSBC tracker. The £12.95pm plus account almost pays for itself. The difference was only about £1 a month, and you get lots of stuff with the card like free travel insurance for you and your partner, and discounts/better rates on this and that. You also get to keep the reduced rate for life, even if you cancel your subsciption after 1 year. Well I thought it was worth it. if you're gonna be paying a certain amount one way or the other - you might as well get as much free stuff thrown in with it.

djdaface

TEDDYRUKSPIN wrote: »

0.89% + B.O.E. You will have to subscribe to HSBC plus account at £12.95 for 12 months though!!!!!

The first 6 months are free, the second are half price and then you can cancel and keep your rate if you want.

£41.70 for a 0.1% decrease in rate and extra services seemed a bargain to me.

techno12

I've just remortgaged onto the HSBC lifetime tracker. BOE + 0.48%, ~£600 fee (was 0.38% and on the weekend I first applied online so just missed it, can't complain, it's 0.63% and a ~£1000 fee now)

Really pleased, the whole process was a doddle, took about 2 weeks (I've never remortgaged before so I was imagining solicicitors' bills and hassles etc) and I had to sign 2 or 3 forms and that was it..

If I'd have stayed with my current lender (Intelligent Finance) - their SVR was nearly 7%, so I'd have had to pay £200 a month more, so the ~£600 fee was well worth it to jump ship..I'm paying what the SVR with IF would have been each month now, but I've reduced the term by 6 years for free (okay, it cost me that ~£600 to switch) ... Of course, I'm subject to the BOE base rate fluctuations