2 year fixed rate mortgage @1.49%, no fees, 3 years @1.69%, 5 years @1.84%
709°Expired

2 year fixed rate mortgage @1.49%, no fees, 3 years @1.69%, 5 years @1.84%

60
Found 7th Aug 2017
Maximum LTV 60%

Seeing as most people seemed to appreciate the First Direct deal, why not save an extra 0.1%? The 5 year fixed seems like a great option as it balances a cheap interest rate with a long term fixed %.

Fee-saver, just like the First Direct so no upfront fees are payable!

HSBC should be easier to get approval compared to First Direct also.
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My view would be to look at a 5 year deal as minimum going forward, The rates can only go up now people...Nothing left to drop. The next 2 years is a Gamble, My money's on Fixed for 5 or 10 years...Other than that its a good deal, so have some heat.
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I'll give this a try tomorrow
My view would be to look at a 5 year deal as minimum going forward, The rates can only go up now people...Nothing left to drop. The next 2 years is a Gamble, My money's on Fixed for 5 or 10 years...Other than that its a good deal, so have some heat.
Fact_or_Fiction57 m ago

My view would be to look at a 5 year deal as minimum going forward, The …My view would be to look at a 5 year deal as minimum going forward, The rates can only go up now people...Nothing left to drop. The next 2 years is a Gamble, My money's on Fixed for 5 or 10 years...Other than that its a good deal, so have some heat.

I must admit I thought the other way, I thought although they may not drop any further, I cant see them going up anytime soon! And the banks must think this too, as ultimately they are only offering long term fixes at a rate that they will make a profit on? I got a 2 year fixed mortgage from HSBC and I plan to keep renewing it every 2 years for the super low interest rate
My mortgage advisor told me that I needed to pay extra fee (>200) because my solicitor was not on their panel. And there were other hassles too.
wozwebs45 m ago

I'm on their 1.49% + base rate offer from a while back so I'm currently …I'm on their 1.49% + base rate offer from a while back so I'm currently paying 1.74%. I also pay a lot over the odds to clear it faster (knocking 14 years off) per month so not sure if this one will let me do that also? If I keep these payments up then I should be mortgage free in 5 years anyway so a 5 year fixed is appealing as I can't see it ever going less than 0.25% only higher.EDIT: Just looked and there is an annual 10% overpayment limit when there isn't any on my current one so best to stay as I am. Good deal though.

r/humblebrag
wozwebs59 m ago

I'm on their 1.49% + base rate offer from a while back so I'm currently …I'm on their 1.49% + base rate offer from a while back so I'm currently paying 1.74%. I also pay a lot over the odds to clear it faster (knocking 14 years off) per month so not sure if this one will let me do that also? If I keep these payments up then I should be mortgage free in 5 years anyway so a 5 year fixed is appealing as I can't see it ever going less than 0.25% only higher.EDIT: Just looked and there is an annual 10% overpayment limit when there isn't any on my current one so best to stay as I am. Good deal though.



You could consider the first direct fixes - they allow unlimited overpayments
I've just switched to HSBC and in order to get the fee free deal, had to use their appointed solicitors. They were absolutely terrible, got things wrong, were incredibly slow and their communications often contradictory or issued weeks late.

Saying that, because I started the process early - I did manage to complete before my existing deal ended. However I would rather have paid a couple of hundred extra for a better solicitor.
The 3 and 5 year look very good. I am currently on a 1.39% baseline tracker (1.89% all in) with HSBC and those fixed rates are very enticing. Problem is I sort of plan to move in the next 2 to 3 years so a 2 year would be the most sensible deal, not sure if it's worth the hassle though.
Out of interest, total mortgage n00b here, but if this is good, would I bother going via a mortgage broker? Or just go to HSBC
Sorry, the FD deal I posted is better!!

Unlimited overpayments for FD, only 10% for year for HSBC.

Therefore, that 0.1% advantage could soon be lost with HSBC, if you can repay most of your mortgage before the end of the term.
Edited by: "tomtomato" 7th Aug 2017
We've had fixed rates for HSBC for years and never had any problems with porting across mid term. Never paid any early repayment and always had competitive rates. I'm going for 1.84% very shortly
What are hsbc and first direct like with council flats? Non high rise
Nice but HSBC. I never liked them. There was always somethingwith them that made my life harder. Even now cannot see 5 years mortgage details on their website.
I have previously fixed with 5y 1.69%, but I can see it is now 1.59% for 5y, I have already paid the booking fee, but solicitors are still working to get the contract... Would they be able to move me to this cheaper deal?
gemignani15 m ago

I have previously fixed with 5y 1.69%, but I can see it is now 1.59% for …I have previously fixed with 5y 1.69%, but I can see it is now 1.59% for 5y, I have already paid the booking fee, but solicitors are still working to get the contract... Would they be able to move me to this cheaper deal?


Just replying here as more people would be interested to know... called and they said I would have to pay the booking fee again...
Money is very cheap at the moment, but it may not always be that way. If one needs a mortgage it would be a good idea to fix a low rate like this for a long period now, the downside will be that it may be difficult to move house during the fixed rate period or sell when then next downturn in house prices comes.
Do they not have a 10 year fee free deal?
What's the LTV on these?
AlfieW1235 h, 25 m ago

I must admit I thought the other way, I thought although they may not drop …I must admit I thought the other way, I thought although they may not drop any further, I cant see them going up anytime soon! And the banks must think this too, as ultimately they are only offering long term fixes at a rate that they will make a profit on? I got a 2 year fixed mortgage from HSBC and I plan to keep renewing it every 2 years for the super low interest rate


Well, like i said it's a gamble, I would not trust the banks on knowing much more than any normal Jo public, after all, the reason for the low rates is due to the banks in my view getting it wrong in the first place. The banks are risking nothing if you look at the deal above. 60%LTV. the bank of England rate are 0.25%, They have a cushion of 1.25% and if the worse case scenario is that they go up fast...well they have your house with another 40% cushion....i would rather sit on a 5 or 10 year deal circa 2.5% max rate, in the knowing its affordable. 2 years for me is not long enough with the many unknowns currently looming with Brexit...Each to your own....hope it all goes well for you!
djwilko32 m ago

What's the LTV on these?


It is in the rubric!
Agreed 5 year fix rate at 1.98 with HSBC lucky I seen this will be getting it changed tomorrow to this 1.84 happy days good job I've not bought my house yet
Tonic844 h, 13 m ago

I've just switched to HSBC and in order to get the fee free deal, had to …I've just switched to HSBC and in order to get the fee free deal, had to use their appointed solicitors. They were absolutely terrible, got things wrong, were incredibly slow and their communications often contradictory or issued weeks late. Saying that, because I started the process early - I did manage to complete before my existing deal ended. However I would rather have paid a couple of hundred extra for a better solicitor.


Most solicitors are like that, even the ones you pay for yourself. Conveyancing is not very lucrative so it is not worth a solicitor investing much of a clerk's time in it. I'm not sure a few hundred more would have achieved a much better result.
richierich20137 m ago

Agreed 5 year fix rate at 1.98 with HSBC lucky I seen this will be getting …Agreed 5 year fix rate at 1.98 with HSBC lucky I seen this will be getting it changed tomorrow to this 1.84 happy days good job I've not bought my house yet


The difference is only worth £140/year on a £100,000 mortgage!
othen26 m ago

The difference is only worth £140/year on a £100,000 mortgage!

Exactly! Happy days!
othen59 m ago

The difference is only worth £140/year on a £100,000 mortgage!

My mortgage is going to be more than £100000 thanks for the worry though
Fact_or_Fiction8 h, 17 m ago

My view would be to look at a 5 year deal as minimum going forward, The …My view would be to look at a 5 year deal as minimum going forward, The rates can only go up now people...Nothing left to drop. The next 2 years is a Gamble, My money's on Fixed for 5 or 10 years...Other than that its a good deal, so have some heat.


I thought the same in 2014

They have a 0.99% 2 yr tracker at 60% LTV. It does have a £999 booking fee. It would take just under 4 x 0.25% interest rate rises within the 2yrs to become 'worse' than the 1.89% 5yr fix. It's worth anyone modelling their repayments against that. Also unlimited over payments allowed compared to 10% of the remaining balance on a fix (but realise this isn't a problem most of us have!).
Need to earn min of £100,000 if you want interest only!
paulrwarner54 m ago

Need to earn min of £100,000 if you want interest only!


I can't see that under any of the conditions for this mortgage, why do you think it is the case?
I always preferred interest only mortgages because I found them much more flexible, I earned about £80,000/year (before retiring - half that now) and never had any problems, so I think you may be wrong in this instance.
Edited by: "othen" 8th Aug 2017
othen48 m ago

I can't see that under any of the conditions for this mortgage, why do you …I can't see that under any of the conditions for this mortgage, why do you think it is the case?I always preferred interest only mortgages because I found them much more flexible, I earned about £80,000/year (before retiring - half that now) and never had any problems, so I think you may be wrong in this instance.


Yes interest only mortgage you must earn £100k for HSBC products, those are the rules.
i took out a new add on mortgage in march and got told this.

imho it's because in the past people taking interest only mortgages had massive gains in equity, with the house markets rising rapidly. Now the banks want to ensure you repay capital and thus reduce the actual loan, rather than paying interest only
Edited by: "whatyadoinsucka" 8th Aug 2017
whatyadoinsucka1 h, 23 m ago

Yes interest only mortgage you must earn £100k for HSBC products, those …Yes interest only mortgage you must earn £100k for HSBC products, those are the rules.i took out a new add on mortgage in march and got told this.imho it's because in the past people taking interest only mortgages had massive gains in equity, with the house markets rising rapidly. Now the banks want to ensure you repay capital and thus reduce the actual loan, rather than paying interest only


How interesting,
I think that rule must be particular to HSBC. I still have a mortgage (with Virgin money) on one of my houses and that is the interest only type.
othen1 h, 6 m ago

How interesting,I think that rule must be particular to HSBC. I still have …How interesting,I think that rule must be particular to HSBC. I still have a mortgage (with Virgin money) on one of my houses and that is the interest only type.


yeah it is hsbc's rule, to be honest hsc have always been strict, if you havent perfect credit and cannot prove you have disposable income they will reject
Maximum 60% LTV, does that mean I need a 40% deposit?
david_wavid4 m ago

Maximum 60% LTV, does that mean I need a 40% deposit?


In effect yes. The mortgage can't be more than 60% of the cost of the house one is buying or re-mortgaging.
othen4 m ago

In effect yes. The mortgage can't be more than 60% of the cost of the …In effect yes. The mortgage can't be more than 60% of the cost of the house one is buying or re-mortgaging.


So I cant get this deal with a 10% deposit?
Edited by: "david_wavid" 8th Aug 2017
whatyadoinsucka21 m ago

yeah it is hsbc's rule, to be honest hsc have always been strict, if you …yeah it is hsbc's rule, to be honest hsc have always been strict, if you havent perfect credit and cannot prove you have disposable income they will reject


Thank you for that. I was just curious, at my stage of life (I'm 56) I've settled the mortgages on 2 of my 3 properties (the other is a BTL where it makes sense to have an interest only mortgage), so this is a bit academic for me. I'm interested in how people borrow money these days though, my son is just a teenager so he will be involved in this in half a dozen years' time.

I'm old enough to remember interest rates at 15% in the 1980s, and that could happen again (and would be a calamity for many) - so I'd certainly recommend fixing for as long as one feels comfortable with whilst it is possible (accepting there will be a loss of flexibility should one need to sell the property before the end of the contract period).
david_wavid3 m ago

So I cant get this deal with a 10% deposit?


Of course not!
1.84%!! Makes my terrible 4.79% look even worse!
messiahcomplex817 h, 31 m ago

Out of interest, total mortgage n00b here, but if this is good, would I …Out of interest, total mortgage n00b here, but if this is good, would I bother going via a mortgage broker? Or just go to HSBC


I went to HSBC for a mortgage i could easily afford and they wanted all sorts of paperwork (lease paperwork) and declined me in the end with no reason even tho i was one and a half times within the affordibility. Myself and most of the people i know use nationwide - decent rates and no mortgage broker, all done instore
Edited by: "kawa1981" 8th Aug 2017
paulrwarner14 h, 23 m ago

Need to earn min of £100,000 if you want interest only!




Oh and BTW the TSB want a pension fund of £1m if you want interest only, Natwest want £75,000 min income, only lenders at mo with realistic mortgage criteria and rates are Bank of Ireland and Leeds building society. Leads doing 2 yr fix for 1.5%
Edited by: "paulrwarner" 8th Aug 2017
whatyadoinsucka2 h, 27 m ago

yeah it is hsbc's rule, to be honest hsc have always been strict, if you …yeah it is hsbc's rule, to be honest hsc have always been strict, if you havent perfect credit and cannot prove you have disposable income they will reject

Ahh! I was going to ask if they wud be likely to lend to us as I am on ESA long term sick and my husband is part-time we are in our 50s. I would be switchinh from our current mortgage to move to them. Do you know if they consider things like this or is it based purely on the disposable income from the figures we give them??
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