Posted 16th Feb

### This deal is expired. Here are some options that might interest you:

Looks like HSBC have cut there 5 year fixed rate to 1.69% if you have a ltv of 60%. There are no booking fees or admin fees with this deal. Please be gentle as I thought this was a good rate fixed for 5 years with no fees.

To calculate the total cost of a mortgage deal. You can do this by adding together the total monthly payments over the fixed period (5 x 12 = 60 payments in this

case) then adding any product fee minus any cashback.

LTV stands for loan-to-value and is the percentage of the property’s value you want to

borrow. So if a property is worth £100,000 and you need to borrow £60,000, your

LTV is 60%; if you need to borrow £90,000, your LTV would be 90%. All other things being equal, the lower your LTV, the better the mortgage rates you’ll be offered.

**How to compare mortgages**To calculate the total cost of a mortgage deal. You can do this by adding together the total monthly payments over the fixed period (5 x 12 = 60 payments in this

case) then adding any product fee minus any cashback.

**LTVs**LTV stands for loan-to-value and is the percentage of the property’s value you want to

borrow. So if a property is worth £100,000 and you need to borrow £60,000, your

LTV is 60%; if you need to borrow £90,000, your LTV would be 90%. All other things being equal, the lower your LTV, the better the mortgage rates you’ll be offered.

This is better.

Let's use £100k as an example - that NW product is £349/m x 60 months = £20,940 + £999 = £21,939. The HSBC product is £354/m, x60 is £21,240. So £700 cheaper.

Part of HSBC, so will have the same lending criteria/checks

Part of HSBC, so will have the same lending criteria/checks

hah I paid Bank of Ireland 3.4% for 5 years. Just signed up to 1.35% with First Direct but 2 years. not fixing for 5 again.

No fees?

It would seem you are correct, i was with hsbc already so it was less hassle for me.

Correct

I was with HSBC on a 2.24% tracker. All the work was on their side, so I moved to FD

so hsbc offered you a fd rate or did you have to remortgage fully to fd

I remortgaged fully to FD. It took about 3 weeks and that was over the Christmas/New Year period.

cheers I just did some sums, and theres pennies in it really a month for the amount I remortgaged but thanks for the replys,

Is it easy enough for existing mortgage customers? Just want to phone up and say switch it to this

If you're not already in a fixed term, then yes

Edited by:"4u2nV1983" 16th FebThis is better.

Let's use £100k as an example - that NW product is £349/m x 60 months = £20,940 + £999 = £21,939. The HSBC product is £354/m, x60 is £21,240. So £700 cheaper.

It's only better on a case by case basis, depends how much you are borrowing.

At higher borrowing levels the fee option starts to make more sense.

You also get £500 cash back with NW when moving lender.

Sitting on the edge of my seat.

Is this still better if it was 200K? Thanks

Currently on 2 point something, and I’m well below 60% LTV

Shove up mate

Did exactly the same thing.

I guess this product would only suit those with a low-ish mortgage (so as to avoid fees) as it’s far from market leading.

75% LTV

and all the papers said we could expect a rate cut in Jan. Didn't happen. And it was 9.5 out of 10 people all promising rate cuts, still never materialised. I wouldn't hang about for better rates personally. Might happen, might not. Best to fix at whatever is good at the time but yeah that's why im fixing for 2 years not 5. Who knows what will happen post- B word next year.

First direct is lower tbf

Sometimes it's worthwhile paying to come out of your deal

It's worth paying a fee generally if you have a mortgage over 150k

Wrong. If a lower rate but paying a fee saves more in interest than the cost of the fee then it's worth taking up, if it doesn't then it isn't. This all depends on how much you borrow, what the rates are and how long you fix for.

I'm not necessarily saying wait it out. But some may be prepared to take the financial risk on a tracker mortgage. Inflation is pretty low at the moment. I have gambled but I'm a notoriously bad gambler....

Most lifetime hsbc trackers if your on one like I am are 2% above the base rate...so if they cut the base rate from 0.75 to Zero (very unlikely usually 0.25% initially) this fixed deal of 1.69% is still a better rate and more secure.

Not a great APRC - the HSBC deal is 1.8%

That's right.

Though in these two examples you have to be borrowing £400k for the Nationwide to end up cheaper. That's a lot, especially on a 60% LTV product.

I dont really understand the differences...any one had experience with either?

Thanks