10 Year Fixed Rate Mortgage @ 2.79%, Max LTV 70% £0 Booking Fee @ HSBC
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10 Year Fixed Rate Mortgage @ 2.79%, Max LTV 70% £0 Booking Fee @ HSBC

221
Found 7th Jul 2016
No booking fee makes this a decent product. I'm guessing the banks don't think rates are going up any time soon but I don't think anybody can really predict what's going to happen in the next few years
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Thanks to Brexit it looks like base rate is going to stay low for longer than we thought!
I wonder how much of that 10 year period would actually be above 0.25/0.5%
It's a gamble either way at the moment it all depends on whether you're risk tolerant or risk averse. Big wins/losses if you get it wrong though, increasingly so the higher the loan amount.
I'm unfortunately locked into a 5 year fix with 3 more years left, this was just before the rates became cheaper.

I personally wouldn't do a long term fixed deal anymore.
I've been approved 5year virgin at 2.19% not taken it out yet but I think it's a decent deal. About to move in 2 weeks so too late to start on with another one. I'm a chicken so always fix in.
Can't argue with that rate for such a long time and no fees to sting you! I often wonder whether we will see rates go up again back to more sensible levels, can't be good to get people addicted to cheap debt and can't be good for savers either.
vmistery

Can't argue with that rate for such a long time and no fees to sting you! … Can't argue with that rate for such a long time and no fees to sting you! I often wonder whether we will see rates go up again back to more sensible levels, can't be good to get people addicted to cheap debt and can't be good for savers either.



With the current £2 trillion debt costing the UK £60 billion a year to service it and the likelihood we'll be pushing £3 trillion debt sooner rather than later, due to the genius of 'Brexit', rates are never, ever, ever going up.............ever.......


arjun311

I'm unfortunately locked into a 5 year fix with 3 more years left, this … I'm unfortunately locked into a 5 year fix with 3 more years left, this was just before the rates became cheaper. I personally wouldn't do a long term fixed deal anymore.


If you are on a 5yr fixed taken out in the last 3 years interest rates have been the same since then.Costs would depend more on your LTV or circumstances as to the mortage rate you can get. I couldn't find the 10 year fixed deal on HSBC. 5 years but not 10. If you can see a much better deal now it's always worth speaking to the mortgage company as even paying to get out of it may be beneficial to you in the longer term.Cheers
huddsguy

I've been approved 5year virgin at 2.19% not taken it out yet but I think … I've been approved 5year virgin at 2.19% not taken it out yet but I think it's a decent deal. About to move in 2 weeks so too late to start on with another one. I'm a chicken so always fix in.


HSBC are doing 1.99% but LTV is 65% - check the booking fee of both though!
arjun311

I'm unfortunately locked into a 5 year fix with 3 more years left, this … I'm unfortunately locked into a 5 year fix with 3 more years left, this was just before the rates became cheaper. I personally wouldn't do a long term fixed deal anymore.



Lol I took a 10 year in 2008 at 5.7 so my heart bleeds for you
Currently looking at taking a 5 year fix at 2.63%, not sure if it's worth committing to the ten but will see what happens after 14 July.
poolman

... rates are never, ever, ever going up.............ever.......



There will be a day when the Bank of England money printing machine runs out of ink - on that day be very afraid !

We are living in a time of fantasy interest rates which will come to an end with a bang - history never lies !
antonywhite37

Lol I took a 10 year in 2008 at 5.7 so my heart bleeds for you



Depending on your outstanding and penalty, perhaps you could be better off paying the penalty and take a new mortgage.
Im on a 2.29% tracker with HSBC. Don't know whether to fix or stay and see if base rate drops
poolman

With the current £2 trillion debt costing the UK £60 billion a year to s … With the current £2 trillion debt costing the UK £60 billion a year to service it and the likelihood we'll be pushing £3 trillion debt sooner rather than later, due to the genius of 'Brexit', rates are never, ever, ever going up.............ever.......


Sour grapes £2 a punnet in sainsbury

I paid HSBC £1500 for a ten year fix rate in 2010...

antonywhite37

Lol I took a 10 year in 2008 at 5.7 so my heart bleeds for you



I think I took something similar with HSBC, plus a £1000 booking fee
post office mortgages have a 5yr fixed at 2.38% with no arrangement fee.
nseaman

Im on a 2.29% tracker with HSBC. Don't know whether to fix or stay and … Im on a 2.29% tracker with HSBC. Don't know whether to fix or stay and see if base rate drops


Interest rates are still likely to drop further if the Gov of the Bank of England is recommending it. It all depends on how many years left you have to pay. As has already been mentioned; todays interest rates are unbelievably cheap so anyone with a reasonable LTV should be able to fire and forget on a decent 5yr fixed rate now without really worrying about it - just don't pay stupidly high fee's! Exit fees to get out of mortgages were more important to consider 10 years ago but as of now we are pretty much as cheap as we can ever get (0.5% away anyway!) so just make sure you shop around on charcol or other aggregators knowing that you WILL get a great deal!!
I'm halfway through a 2 year deal at 1.49% with HSBC. It would be interesting what new 2 year deals are offered to HSBC Advance customers in the coming months. I would definitely prefer to go with a 2 year deal at 0.99% as opposed to a 10 year deal.
poolman

With the current £2 trillion debt costing the UK £60 billion a year to s … With the current £2 trillion debt costing the UK £60 billion a year to service it and the likelihood we'll be pushing £3 trillion debt sooner rather than later, due to the genius of 'Brexit', rates are never, ever, ever going up.............ever.......



Pound falling... Imports get more expensive. Stokes UK inflation... BOE monetary objective to control inflation-> interest rate will go up.
I always look at these deals and wonder if I should change mine - i have been on the same rate for approx 10years now with only 10 years left - 1% above base rate for life - Santander -but this seems to be a good deal for some better than some posts anyways
yeah i wouldn't bank on the rate staying low because as said above with the pound falling so sharply the rate has to go up. It would be a smart move i think if you don't plan on moving house etc in the next 10 years.
Just look at your own situation, will you move within the 10 years? - is it portable? I personally think 10 years is too long for anyone to plan for, what if you separate- what is the early penalty charge? 2-5years gives more control and flexibility to plan. Each to their own, I guess if you are later in life and only have 10 years to go on your mortgage it would seem a great deal.
Hmm tempted to switch to this one. I currently have an agreement for a 10 year fix TSB morrtgage at 2.99%. Anyone know how much a valuation survey costs from HSBC??

Edit: Found it... hsbc.co.uk/1/2…sed Only worth my while if they'd accept my TSB valuation.
Edited by: "Scorpion" 7th Jul 2016
Think I will stick & wait for the .25% drop & possible a drop to 0% may even be on the cards.
naomipunkclan

Pound falling... Imports get more expensive. Stokes UK inflation... BOE … Pound falling... Imports get more expensive. Stokes UK inflation... BOE monetary objective to control inflation-> interest rate will go up.



and if everything gets more expensive, people will worry, that will trigger a recession. So lower the interest rate will give the normal person more money in their pocket.
naomipunkclan

Pound falling... Imports get more expensive. Stokes UK inflation... BOE … Pound falling... Imports get more expensive. Stokes UK inflation... BOE monetary objective to control inflation-> interest rate will go up.



​that's how it is supposed to work but that didn't happen last time. inflation was going up and up but the interest rates stayed low.
Has anyone actually found this deal on the website?
grumpyone

There will be a day when the Bank of England money printing machine runs … There will be a day when the Bank of England money printing machine runs out of ink - on that day be very afraid !We are living in a time of fantasy interest rates which will come to an end with a bang - history never lies !


I still remember having a fixed rate of 12.75% and being glad!!

Just come out of my last fixed deal and have 7 years to go to finish the mortgage. Am going to fix the 7 years with any deal that comes out around 2 - 2.5% and will be glad. The peace of mind from knowing that it cannot go up is immense. There are times I've won and times I've lost, but I've never had to worry about what "might" happen, and that peace of mind to me is priceless.
poolman

rates are never, ever, ever going up.............ever.......


Said some anonymous poster on an internet forum.
Looking to get my first mortgage in the coming year. Is general consensus that fixed rate is the safer option and variable is whether or not you want to gamble on the interest rates going up within your mortgage duration?

Looking at the post most people are on fixed rate.
Renewed with Barclays yesterday

1.79% 2 year fix with no fees

And no credit checks, income approval or valuations, am happy with that
Coventry Building Society revealed it is poised to launch a loan with a fixed rate of 2.39 per cent for a decade.
dailymail.co.uk/new…tml
akhan_29

Looking to get my first mortgage in the coming year. Is general consensus … Looking to get my first mortgage in the coming year. Is general consensus that fixed rate is the safer option and variable is whether or not you want to gamble on the interest rates going up within your mortgage duration?Looking at the post most people are on fixed rate.



That's correct, but often for that reason 'tracker' mortgages offer better value. Commonly you will see at least a 0.5 percent better interest on a tracker compared to the fixed version. I'd say if you are only doing a 2 year like me then I can't see the rate rising by that much in the next few years.

I wouldn't call it gambling

Also if you are on an 80 percent LTV (as an example), then 2 years may be long enough to get you to 75 percent LTV or better, opening up better deals for when you remortgage/add value.
Edited by: "delusion" 7th Jul 2016
WiganLaticsFan

No booking fee makes this a decent product. I'm guessing the banks … No booking fee makes this a decent product. I'm guessing the banks don't think rates are going up any time soon but I don't think anybody can really predict what's going to happen in the next few years



I predict a riot...yes, I predict a riot
akhan_29

Looking to get my first mortgage in the coming year. Is general consensus … Looking to get my first mortgage in the coming year. Is general consensus that fixed rate is the safer option and variable is whether or not you want to gamble on the interest rates going up within your mortgage duration?Looking at the post most people are on fixed rate.



There is a gamble with post types. You generally fix at a more expensive rate and so the gamble is you are paying extra today in the belief rates increase and your fix is then cheaper than market rates. The variable gamble is more obvious, you pay less today and it could go up in the future.

Most people fix first time round, not thinking of the gamble but wanting piece of mind. Fixes are so low at the moment that the pricing difference will be very low.

As a ftb I would look at the terms and conditions around future house moves on a fix, more so a 10yr. As you may find yourself trapped with one company, yes they will say it's portable, but you will be tied to that lender's policies and affordability model for that period.
delusion

That's correct, but often for that reason 'tracker' mortgages offer … That's correct, but often for that reason 'tracker' mortgages offer better value. Commonly you will see at least a 0.5 percent better interest on a tracker compared to the fixed version. I'd say if you are only doing a 2 year like me then I can't see the rate rising by that much in the next few years. I wouldn't call it gambling Also if you are on an 80 percent LTV (as an example), then 2 years may be long enough to get you to 75 percent LTV or better, opening up better deals for when you remortgage/add value.



The change in LTV from 80 to 75% is a great shout, but if you have a 25yr term the chances of a 5% balance reduction is really small, it would be more reliant on house price index.

On this, as a ftb, if you are looking at 25/30yrs, whatever the rate you choose, ask how much it would be with a year less term, it may surprise you and £20 a month save you a year of repayments.
steve123uk

Renewed with Barclays yesterday1.79% 2 year fix with no feesAnd no credit … Renewed with Barclays yesterday1.79% 2 year fix with no feesAnd no credit checks, income approval or valuations, am happy with that



​are you existing customer?
shub

​are you existing customer?


Yes, 2.75% to 1.79% saving 1k a year
naomipunkclan

Pound falling... Imports get more expensive. Stokes UK inflation... BOE … Pound falling... Imports get more expensive. Stokes UK inflation... BOE monetary objective to control inflation-> interest rate will go up.


No, there is cost push inflation therefore trying to contract the demand wouldn't work.

Monetary policy through strengthening of the pound would be more appropriate by the BoE using foreign currency to buy GBP and improve the rate thereby dropping import prices.

Lower rates have already been eluded to by spectators and even the BoE itself in a veiled manner. Confidence will be knocked and so expansionary policy needs to be implemented. There's the risk of stagflation if it doesn't work but we'll have to wait and see.
In short we're currently swamped by uncertainty, which doesn't make a rate rise anytime soon on the cards.
its impossible to predict what interest rates are going to do though the next move will be down

with the falling pound it could be argued that this will cause an increase in inflation which may mean that interest rates have to go up in the future

however the world is now starting to go into a deflationary cycle therefore we may find that the increase in inflation in the uk will not be that great to cause an increase in interest rates


Edited by: "adr0ck" 7th Jul 2016
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