HSBC Life Time Tracker Mortgage - BOE Base Rate +0.99% - HotUKDeals
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I think this is a good deal for many people looking to re-mortgage.

Basically it is a tracker mortgage that is 0.99% above the Bank Of England base rate for the term. Nothing great there, but before you vote cold, what makes this special is that there are no fees in or out.

* No booking fee
* No standard valuation fee
* No completion fee
* Unlimited overpayments
* No tieins
* No exit fee

You can over pay by as much as you like whenever you like with no penalties and interest is calculated daily.

If you have a Plus account with them (£12 per month I think) you even better rate at +0.89%

They have lower rates but all with booking fees.

You can get similar or slightly better rates for other lenders but with various fees on top.
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#1
Lol you may wanna edit your title so it reads "HSBC" and not "HSBE" :thumbsup:
#2
TERMS & CONDITIONS http://www.hsbc.co.uk/1/2/popups/mortgage_fee_charges;jsessionid=0000hQVL29q13AtUwkovwOl4Dav:12c58sh8k

Pricing packages
There are two Pricing packages available:

Fee Free pricing
No booking, valuation or completion fees are payable.
Standard Professional Valuation provided at no cost. However if you require a more thorough check, such as a Homebuyer Report or Building Survey, you will have to pay the difference between this cost and the cost of a Standard Professional Valuation.

Good Deal as long as interest rates stay low, IF they go up your going to pay LOADS with whatever deal you have except a fixed rate :)

Standard pricing - A right rip off
A non- refundable Booking Fee is payable when your application is agreed in principle and the tracker, fixed or discount rate is booked. The Booking Fee is currently £499 unless otherwise stated.
A completion fee is payable when the loan is drawn down to cover the administration costs and the electronic transfer of funds to your solicitor or other third party. The current fee is £30.
We may require a Professional valuation of your property. You will need to cover this cost. However if you require a more thorough check of the property you should obtain either a Homebuyer Report or Building survey.
Find out more about our current Valuation Fee Scale.
If you take out more than one loan at the same time (e.g. Mortgage and HomeOwner Loan) you must take both products on the same pricing package. Booking fees are individual to each rate offered, so customers booking multiple loans at the same time, will pay a booking fee for each different rate selected other than in the Fee Free Package. If you take more than one loan on the same rate at the same time (e.g. Mortgage and HomeOwner Loan both on 2 year fixed) then only one booking fee is payable if taken on the standard option.

You will pay a higher interest rate if the total amount of borrowing secured against your property exceeds a certain proportion of its current value.

Customers transferring their primary residential mortgage to HSBC from another lender may not always incur a Completion or Valuation Fee.

Mortgage Special pricing package

Remortgage tracker

A non-refundable Booking Fee is payable when your application is agreed in principle and the rate is booked. The booking fee is currently £599 unless otherwise stated.
Mortgage transfer deal
Where incurred we'll pay for:

any enquiry fee charged by your current lender,
standard valuation fee for your property
a completion fee
any district Land Registry search and registration fees
Provided the loan and property continue to be held in the same name(s) and the property remains as your main residence. We will also prepare the legal documentation in house for you at no cost. If you prefer to take independent legal advice, you will need to arrange and pay for it yourself.

If your existing mortgage is subject to tie-ins and/or early repayment charges you will need to cover this cost. This offer only applies to properties in England and Wales and non complex cases.

Alternative offers apply to homeowners in other locations and for complex cases. Please contact us for further information.



2 Year Fixed Rate and 2 Year Discount Rate

A non- refundable Booking Fee is payable when your application is agreed in principle and the fixed or discount rate funds is booked. The Booking Fee is currently £999 unless otherwise stated.
A completion fee is payable when the loan is drawn down to cover the administration costs and the electronic transfer of funds to your solicitor or other third party. The current fee is £30.
We may require a Professional valuation of your property. You will need to cover this cost. However if you require a more thorough check of the property you should obtain either a Homebuyer Report or Building survey. Find out more about our current Valuation Fee Scale.
Customers transferring their primary residential mortgage to HSBC from another lender may not always incur a Completion or Valuation Fee.




HSBC Premier pricing
Premier customers enjoy preferential interest rates, with at least a 0.30% reduction compared to other customers. This preferential 0.30% discount may not be used in conjunction with any other promotional mortgage offers.

HSBC Bank Account Plus pricing
Bank Account Plus customers enjoy preferential interest rates, with at least a 0.20% reduction compared with other customers, on some mortgage rates. This offer may change from time to time. This offer may not be used in conjunction with any other promotional mortgage offers.

HSBC Fixed Rate Mortgage
Our HSBC Fixed Rate Mortgages are available on our Fee Free or Standard pricing packages at the published fee. However they are subject to an early repayment charge:-

Early repayment charge

You may increase your standard monthly payment by up to 20% during the fixed rate period, without incurring an early repayment charge.
You will be liable to pay us an early repayment charge when you increase your standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above your standard monthly payment, during the fixed rate period.
The charge will be 1% of the amount repaid early for each remaining year of the fixed rate period, reducing on a daily basis. For example, if there are 2 years of the fixed rate period remaining, the charge is 2% of the principal amount being repaid. If there are 18 months of the fixed rate period remaining, the charge is 1.5% of the principal amount being repaid.
The early repayment charge also applies to a fixed rate mortgage that is converted to another fixed rate or any other rate before expiry of the fixed rate period. At the end of the fixed rate period you are free to repay your mortgage without charge - there are no extended tie-ins.
We will confirm any costs payable before you take the loan.

HSBC Discount Rate Mortgage
Our HSBC Discount Rate Mortgages are available on our Standard pricing package at the published fee. However they are subject to an early repayment charge:-

Early repayment charge

You may increase your standard monthly payment by up to 20% during the discount rate period, without incurring an early repayment charge.
You will be liable to pay us an early repayment charge when you increase your standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above your standard monthly payment, during the discount rate period. The charge will be 1% of the amount repaid early for each remaining year of the discount rate period, reducing on a daily basis. For example, if there are 2 years of the discount rate period remaining, the charge is 2% of the principal amount being repaid. If there are 18 months of the discount rate period remaining, the charge is 1.5% of the principal amount being repaid. The early repayment charge also applies to a discount rate mortgage that is converted to another discount rate or any other rate before expiry of the discount rate period.
At the end of the discount rate period you are free to repay your mortgage without charge – there are no extended tie-ins.
We will confirm any costs payable before you take the loan.

HSBC Tracker Rate Mortgage
Our HSBC Tracker Rate Mortgages are available on our Fee Free or Standard pricing packages at the published fee. Our tracker rate Mortgages are not subject to an early repayment charge so you can make unlimited overpayments to your HSBC Tracker Rate mortgage without any charge. We will confirm any costs payable before you take the loan.

HomeOwner Loan
Our HSBC HomeOwner Loans are available on our Fee Free or Standard pricing packages at HSBC fixed, discount or tracker rates.
HomeOwner Loans on a tracker rate are not subject to an early repayment charge and you can make unlimited repayments without any charge. However, if you choose a fixed or discount rate you will have to pay an early repayment charge if you repay your loan early.

Early repayment charge for fixed or discount rate HomeOwner Loans

You may increase your standard monthly payment by up to 20% during the fixed or discount rate period, without incurring an early repayment charge. You will be liable to pay us an early repayment charge when you increase your standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above your standard monthly payment, during the fixed or discount rate period.
The charge will be 1% of the amount repaid early for each remaining year of the fixed or discount rate period, reducing on a daily basis. For example, if there are 2 years of the fixed or discount rate period remaining, the charge is 2% of the principal amount being repaid. If there are 18 months of the fixed or discount rate period remaining, the charge is 1.5% of the principal amount being repaid. We will confirm any costs payable before you take the loan. .......................ETC
1 Like #3
Blimey that was a long post big-boy.

Have to say I have just checked Nationwide. All their products now have no fee for existing customers. Dunno about new ones and rates have all reduced. AT LAST!!!
#4
Scream
Lol you may wanna edit your title so it reads "HSBC" and not "HSBE" :thumbsup:


Oops! Thanks fixed it.
#5
Hotukdeals really isn't the best place for finance deals like this. You can find mortgages or loans or whatever you want on best buy tables then talk to the bank directly or a broker. Looking at headline informaation in isolation gives very little idea if it would be suitable or available.

Good of people to try posting cheap deals but with mortgages it really makes sense to do a lot of research - I know for instance that for some people this would be thousands of pounds more expensive than other deals available but for others it may be a good buy.
#6
bankofmumndad
Blimey that was a long post big-boy.
Have to say I have just checked Nationwide. All their products now have no fee for existing customers. Dunno about new ones and rates have all reduced. AT LAST!!!


http://nationwide.co.uk/newproducts/default.htm?source=nationwide&campaign=homepage&execution=mortgages_tracker_layout2b_slot2_info_08082008 :? What's a good deal ATT ???
http://nationwide.co.uk/homepages/_images/remortgage_356_273_v4new.gif
1 Like #7
Exclusive Switcher Loyalty Products
no reservation fees
with a fixed rate your interest rate is fixed for a period of time
with a tracker rate your interest rate tracks the Bank of England base rate†
at the end of the fixed or tracker rate period you move to our variable Base Mortgage Rate (BMR) for the remainder of the mortgage term
no extended tie in after the fixed or tracker rate period

Just swithced, fee free for a lower rate than was going to book on a month ago. Glad I waited, no doubt will get better but am happy right now!!
#8
#10
HSBC do 0.79% above BoE base rate life tracker aswel with £599 setup fee. Would probably work out cheaper in long run.

Thanks for pointing this out though. Worth thinking about.
#11
I took out a Woolwich lifetime offset tracker (0.59% above base rate) with no arrangement fees, no tie ins, unlimited overpayment, no penalty clause or early repayment fee, no valuation fee, no solitictor fees, etc, about 2 and a half years back. Might be worth checking to see if they/barclays are still doing a similar type of deal. I haven't switched since then, as this product suits my needs perfectly. Obviously, offset isn't the best option for everyone.
#12
thanks to the original poster, my fixed deal is expiring soon and this doesn't seem too bad a deal. will compare to other mtge deals @ moment using online websites to see which is the best but thanks for the heads up.
#13
Wow, thanks for the heads up bankofmumndad, I was quoted the 5.74% 3 year tracker with Nationwide as our current mortgage with them is due to expire and was not too delighted with having to pay a £599 reservation fee to stay with them, but you're quite right, they've obviously decided to scrap it, FANTASTIC! Rep added, cheers! :-D
#14
I'm glad my life time tracker is only +0.34% above base with no fees - I signed up about 8 months or so ago - the deals are nowhere near as good now.
#15
Prufrock
I took out a Woolwich lifetime offset tracker (0.59% above base rate) with no arrangement fees, no tie ins, unlimited overpayment, no penalty clause or early repayment fee, no valuation fee, no solitictor fees, etc, about 2 and a half years back. Might be worth checking to see if they/barclays are still doing a similar type of deal. I haven't switched since then, as this product suits my needs perfectly. Obviously, offset isn't the best option for everyone.


doubtful any such deals are still around. ours is a nationwide life tracker which is 0.19% above the base rate, really glad we got it as you can't get anything even close to that nowadays.
#16
always good to check the fsa comparison tables here:

http://www.fsa.gov.uk/tables

Doesnt beat a good financial advisor though.
#17
Useful find and thread with some good replies - voted hot
#18
if you have less than a 25% deposit in your property this is a great deal. all the other deals people are on about involve having more equity or deposits. i am a mortgage broker and have just applied for the 5.99% no fees and no early repayment charges as if fixed rates go down i can switch at any stage with any bank that wants my business. voted hot
#19
With inflation at well over 4% and likely to continue I don't see why people are getting excited by a tracker mortgage as interest rates are only going to go one way if inflation continues to be at current levels.

Of course, it does depend on how far interest rates would have to go in order for it to be more expensive than whatever fixed rate deals / caps are out there.
#20
actually we have just took out the Woolwich deal. Lifetime tracker no fees whatsoever, Loan to Value Rate is max 60% so great if you have equity in your property or large deposit. I think they may do different types with a higher LTV rate not sure if they have small fees. Would say about woolwich though is go into the branch the call centre staff are pants!
#21
mummymelly;2735861
actually we have just took out the Woolwich deal. Lifetime tracker no fees whatsoever

Lifetime Tracker mortgage
There is a £995 application fee†
†If you're an existing customer remortgaging, a rate switch fee of £100 also applies.

?
#22
Worth pointing out that although this is 90% LTV (which is what i need), they dont give 90% LTV mortgages on houses that are less than 2 years old - these are classed as 'new builds'. Even though I want the mortgage to start AFTER my house is 2 years old, they won't take me on, or reserve the deal until the 2 years have elapsed. So I have to wait until my previous fixed rate expires before I can even start to reserve this product.

So I have to play the waiting game because of this stupid rule. :(
#23
I can assure you there isnt a fee its this : Lifetime tracker +0.89% s&s legals, A variable rate which is 0.89% above our base rate, mortgage is available max ltv rate of 60% of prop valuation and for customers remortgaging from another lender or remortgaging an unencumbered property. check it out!:whistling:
#24
I switched to this several months ago, when it was BOE + 0.49% and £599 fee - by a country mile it was the best deal available that I could find. I love the fact that there's no tie in at all - personally I can't see the point of 2 year discounted trackers as you'll be forced to remortgage when the discount ends (unless you like paying the much higher 'normal' rate), and you're 'locked in' for those 2 years as well...

One thing to note is that a broker will never offer HSBC mortgages as HSBC only deal direct to the public.
#25
cathjaneg2000
Lifetime Tracker mortgage
There is a £995 application fee†
†If you're an existing customer remortgaging, a rate switch fee of £100 also applies.

?
See above head not with it today! Id of course recommend getting independant advice and also not all products are available to all so do your research
#26
my apologies mummymelly, they have several lifetime tracker products and the one that I was looking at was the Base rate + 0.69%, what a minefield!
#27
Prufrock;2732329
I took out a Woolwich lifetime offset tracker (0.59% above base rate) with no arrangement fees, no tie ins, unlimited overpayment, no penalty clause or early repayment fee, no valuation fee, no solitictor fees, etc, about 2 and a half years back. Might be worth checking to see if they/barclays are still doing a similar type of deal. I haven't switched since then, as this product suits my needs perfectly. Obviously, offset isn't the best option for everyone.

Absolutely no chance that deal will still be available.
#28
mission701;2731644
Hotukdeals really isn't the best place for finance deals like this. You can find mortgages or loans or whatever you want on best buy tables then talk to the bank directly or a broker. Looking at headline informaation in isolation gives very little idea if it would be suitable or available.

Good of people to try posting cheap deals but with mortgages it really makes sense to do a lot of research - I know for instance that for some people this would be thousands of pounds more expensive than other deals available but for others it may be a good buy.

I have to just say, having worked in the industry that by far the best option is to go and see an independant advisor. Yes you can look at best buy tables but everyone is different and has different needs. When you start talking about fees, HLC's, LTV's, adding fees to loans and so on it's way above the heads of most people. Just make sure that your broker is FSA registered. You can check on the FSA site here ->http://www.fsa.gov.uk/Pages/register/ and also make sure that they give you a KFI (key facts illustration) for each product you're considering so you can make your mind up with all the evidence you can get. The wife and I went into Lloyds TSB a few weeks back and the guy wrote a quote on the back of a business card.......
#29
bankofmumndad
Exclusive Switcher Loyalty Products
no reservation fees
with a fixed rate your interest rate is fixed for a period of time
with a tracker rate your interest rate tracks the Bank of England base rate†
at the end of the fixed or tracker rate period you move to our variable Base Mortgage Rate (BMR) for the remainder of the mortgage term
no extended tie in after the fixed or tracker rate period

Just swithced, fee free for a lower rate than was going to book on a month ago. Glad I waited, no doubt will get better but am happy right now!!

I went in two weeks ago and was told would have to pay a £599 reservation fee. Has this changed? I am an existing customer
1 Like #30
misfire22;2736600
I went in two weeks ago and was told would have to pay a £599 reservation fee. Has this changed? I am an existing customer

Yes it has, I also thought I'd have to pay the £599 but it's been scrapped for existing customers:
http://www.nationwide.co.uk/mortgage/existingcustomers/intro.htm
#31
Just rang branch and all fees have been removed. Thank you to D00nhamer for original post and bankofmumanddad. Had this not been posted I would not have realised I can save myself £599!
#32
Thanks so much
#33
HSBC premier customers have mortgage at base+0.79% for lifetime.
#34
Cool mortgage wars. I think they all used the credit crunch as an excuse to bump up their rates. After a year and falling profits looks liek the competition as started up again.
Just need a winfall tax on the profitearing water and domestic fuel and pertol companies, a new conservative government and ablosihed tax relief and we can start getting back on track :)
Also has anyone noticed that since Gordon has been in charge we havent had any summer weather !!! :) Yes its his fault as well !
#35
I applied for this mortgage last weekend and must say I am very impressed with their speedy service. The mortgage has already been approved and a valuer has been out within the space of 1 week.

The reason I went for this mortgage is that there are no fees whatsoever so you can change to a cheaper rate when they become available !
#36
our fixed rate 3yr deal is up at the end of September, how far in advance can you arrange a new deal ?
#37
Worth speaking to them it's an 0800 number. But they told me that approval lasts 2 weeks, after that it needs re-approved. But I guess that's just a internal process they have. Think this deal has been on since April and if anything competition seems to be slowly returning to the market so I wouldn't worry.
#38
I booked their 3 year tracker with Nationwide last week - sent the form back Monday am. Now I see I have spent £599 for no reason. I am so mad! :x

I have spoken to the Nationwide this morning. The mortgage consultant has said she will see what she can do - but hasn't rung me back 4 hours later.
#39
I managed to get the lifetime tracker at base + 0.49 with £599 fee.

Very happy as they were excellent in setting up the account.

Maybe won't have to change in the future if trackers stay this high.

Stops them F*cking you over by not passing on the rate reductions
#40
ater today the market expects a cut in the BOE in november.

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