HSBC Remortgage change in rates.

Okydoky25Okydoky25 Forumite
1.1K Posts
Part of the Furniture 1,000 Posts
Hi. My mortgage is due to finish 31/5. House was/is on the market and before all this started the idea/Hope was we would have a buyer and be able to complete soon after the mortgage ended freeing us up to look for a new mortgage. New plan is to stay put so I looked at the remortgage offer and since we received it a few weeks ago the 2 year fixed we would want the interest went up. 1.69 to 1.74 (currently at 1.39). We accepted the 1.74 to start 1/6 however if this rate drops again before then are we able to change it again or are we now looked in as such? 

Sorry I have tried contacting the bank for clarification but after being on hold over an hour I gave up. I’m sure there are people trying to get through with more urgent issues. 


  • lspell1lspell1 Forumite
    70 Posts
    Sixth Anniversary 10 Posts Name Dropper Combo Breaker
    For every £100k over a 20 year period the difference in monthly repayment is around 3 quid. You're only "locked in" technically once the Mortgage completes. Is it possible to change between now and completion, yes. Is it worth the time and hassle, that's your choice.
  • edited 31 March 2020 at 9:46AM
    ThrugelmirThrugelmir Forumite
    86.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 31 March 2020 at 9:46AM
    Rates are moving upwards in response to the current crisis. Likelihood of any reduction is very small. 
    Real insurance claim quote : -

    "Going to work at 7am this morning I drove out of my drive straight into a bus. The bus was 5 minutes early.".
This discussion has been closed.
Latest MSE News and Guides