90% LTV 1.99% 2 year discounted variable Mortgage rate with HSBC

90% LTV 1.99% 2 year discounted variable Mortgage rate with HSBC

Found 5th Mar 2015
90% LTV 1.99% 2 year discounted variable Mortgage rate with HSBC

Seems a good deal for those less risk averse. Cheapest 5 year fixed around is 4% with the post office... a significant short term saving. Make sure you can handle the payments if the BOE have a spasm and hike up the rates against the markets expectations.... on the flip side you could enjoy dirt low rates for longer then expected. Enter Mystic Meg....

90% 1.99% 2 Years 3.94% 3.8% APR £1,499

•Discount rate: A Discount mortgage offers an interest rate that is a discount off the HSBC Variable Rate for an agreed period. Your monthly payments will go up and down as the HSBC Variable Rate rises and falls. With this product the HSBC Variable Rate will be discounted for the stated term by 1.95%
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That's a big upfront fee!

Ok if your mortgage is big enough for the savings to exceed the fee.
That's a whopper of a fee. Gotta have a big mortgage to make this pay.
The smaller mutuals can do so much better than this....cold
Yes indeed. Your mortage needs to be rather large as the booking fee alone works out per month over 2 years at£62.50!
Arrangement/booking fees should be outlawed. Most folk add them to the mortgage making the lenders massive profits over the lifetime. I would like someone from the banking and mortgage industry to justify them!

Edited by: "Tunner" 5th Mar 2015
5 year fixed 2.79% with £195 fee, free legal fees on 75%LTV with Tesco. not 4% as suggested here for 5 year fixed
I believe 4% was quoted for 90% LTV.
I think these deals with low interest rate (high fee) are put out there by banks mainly to top the charts! There will not be many people who will benefit from them (except the banks).

Always consider the overall cost for the period you are considering to get a like for like comparison. Also don't forget to check the bank's standard variable rate, as that is the rate you will automatically move to once your fixed term ends.

Not voted either way.

Edited by: "AstalaVista" 6th Mar 2015
Would £200,000 mortgage constitue a large enough sum?

at 4% repayments are £850 ish a month, at 2% they are £718 a month... so even taking into account fees surely worth while?
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