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Cheapest Ever 5-year 2.48% fixed rate mortgage with HSBC
Cheapest Ever 5-year 2.48% fixed rate mortgage with HSBC

Cheapest Ever 5-year 2.48% fixed rate mortgage with HSBC

Buy forBuy forBuy for£999
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Absolutely amazing offer provided you have either a 40% deposit or, in most cases, 40% equity in your current home (I'm aware that most FTB's won't have a 40% deposit).

However, you must consider the size of your mortgage too - as the £999 fee means that you MAY be better going for a higher rate with a lower fee.

93 Comments


I am an IFA
Woolwich have a remortgage deal
2.99% 5 year fix fee free with£400 cash back

so its down to the loan size

For direct deals
Post office have a 5 year fix 2.79% with a £195 fee

With HSBC they are tied with their life and critical illness
if any one has this with them or with Connells tied to friend life Halifax tied to Scottish widows
you are probably paying over the odds I can compare and pint you in the right direction

Original Poster

Life and critical illness should usually never be taken from the same bank as you get your mortgage with. They can usually be secured via an IFA or, as I did, via moneyworld.com at significantly better rates.

That Woolwich product looks good for lower loan amounts - about £1500 difference between fee and rebate and paying for your valuation with HSBC works out at £300 per year. With a rate difference of about 0.5%, HSBC seem better for mortgages over about £60,000.

These figures aren't exact but are a fairly close guess.
Edited by: "marathonic" 1st Dec 2014

i dont know whats best for my mortgage . I'm with santander i have a 2 year rate paying interest-only (I'm 1 year into the rate), there is an exit fee. but i dont know how to work oout my loan to value. flat is worth now £155k, I've got £97k left to pay (paid off £48k). and i'm unemployed so i'm a risk to the banks. any advice please? thanks

If Santander offered this I would sign on spot...

imho this is not really the right website for such large and important financial services. there are many other sites for mortgages and loans . insurance etc.

Original Poster

heavymetal12345

imho this is not really the right website for such large and important … imho this is not really the right website for such large and important financial services. there are many other sites for mortgages and loans . insurance etc.



Possibly not - but people sifting through the information on other sites may not have an awareness of this deal. Likewise, there may be HUKD users on standard variable rates with their current lenders of 4%+. If seeing this on HUKD provokes them to start a remortgage, they'll be big winners.

goodman1

I am an IFAWoolwich have a remortgage deal2.99% 5 year fix fee free … I am an IFAWoolwich have a remortgage deal2.99% 5 year fix fee free with£400 cash backso its down to the loan size For direct dealsPost office have a 5 year fix 2.79% with a £195 feeWith HSBC they are tied with their life and critical illnessif any one has this with them or with Connells tied to friend life Halifax tied to Scottish widowsyou are probably paying over the odds I can compare and pint you in the right direction



Not available on <£50k mortgages regardless of LTV

I am in a 10 yr fixed with Britannia, rate is far too high at just over 5%. At the time of taking it out I knew nothing about mortgages. I have a better understanding now. Moving house and will have to port this mortgage over and take a 2nd mortgage....I guess something I have just thought of, nothing to say I have to stick with Britannia for my 2nd mortgage.

I'm on the HSBC lifetime tracker at the moment, forget the rate but its not much less than this as far as I remember. If I wasn't planning on moving soon then I think it'd jump into this deal. Hot from me.

Marky it depends on how long you have left with them
and the redemption penalties

Marky1987

I am in a 10 yr fixed with Britannia, rate is far too high at just over … I am in a 10 yr fixed with Britannia, rate is far too high at just over 5%. At the time of taking it out I knew nothing about mortgages. I have a better understanding now. Moving house and will have to port this mortgage over and take a 2nd mortgage....I guess something I have just thought of, nothing to say I have to stick with Britannia for my 2nd mortgage.


Marky it depends on how long you have left with them
and the redemption penalties
it may save money moving
if you message me the details I can have a look if you like

heavymetal12345

imho this is not really the right website for such large and important … imho this is not really the right website for such large and important financial services. there are many other sites for mortgages and loans . insurance etc.


I am an IFA youre right it is an important decision

heavymetal12345

imho this is not really the right website for such large and important … imho this is not really the right website for such large and important financial services. there are many other sites for mortgages and loans . insurance etc.



Disagree, it's a site for pointing out good deals. For something as involved as a mortgage anyone of sound mind would research the deal further to ensure its right for them. Same goes for deals like cars etc

Marky1987

I am in a 10 yr fixed with Britannia, rate is far too high at just over … I am in a 10 yr fixed with Britannia, rate is far too high at just over 5%. At the time of taking it out I knew nothing about mortgages. I have a better understanding now. Moving house and will have to port this mortgage over and take a 2nd mortgage....I guess something I have just thought of, nothing to say I have to stick with Britannia for my 2nd mortgage.



I went for a 5 year fix at just over 5% in 2008 when all the so called experts said interest rates would rocket, within 6 months rates dropped like a stone.

Then when we moved house last year only one lender would give us a mortgage so had to take a 2 year fix at just over 4%.

The way I see it is as long as you can afford your mortgage don't worry about what rate your on. When your 10 year fixed rate ends you will have a good % of equity in your house and be able to get a mortgage with a lower rate.

you don't need to take life or critical illness with HSBC, load of rubbish lol

of course you don't n

craigybhoyuk

you don't need to take life or critical illness with HSBC, load of … you don't need to take life or critical illness with HSBC, load of rubbish lol



of course you don't need to take the cover
I said if you do take it with HSBC then you are probably paying too much
tied as in they cant shop around tied to their own product
Edited by: "goodman1" 1st Dec 2014

goldengirlz

i dont know whats best for my mortgage . I'm with santander i have a 2 … i dont know whats best for my mortgage . I'm with santander i have a 2 year rate paying interest-only (I'm 1 year into the rate), there is an exit fee. but i dont know how to work oout my loan to value. flat is worth now £155k, I've got £97k left to pay (paid off £48k). and i'm unemployed so i'm a risk to the banks. any advice please? thanks



the information is full of contradictions. I suggest you speak with a broker to understand a)what you have and b) what you want.

If you are genuinely on interest only then the amount you have borrowed does not get "paid off". It stays the same, you pay the interest. Also, if it's 2 years fixed and you're 1 year in, then the exit fee will almost definitely be greater than any saving you might be able to recognise from the rates only 1 year ago.

fossman

I went for a 5 year fix at just over 5% in 2008 when all the so called … I went for a 5 year fix at just over 5% in 2008 when all the so called experts said interest rates would rocket, within 6 months rates dropped like a stone.Then when we moved house last year only one lender would give us a mortgage so had to take a 2 year fix at just over 4%.The way I see it is as long as you can afford your mortgage don't worry about what rate your on. When your 10 year fixed rate ends you will have a good % of equity in your house and be able to get a mortgage with a lower rate.



disagree entirely with "as long as you can afford your mortgage don't worry about what rate your on"
you are throwing away good money that could otherwise be used to pay off your mortgage..

ps. good deal OP, as others have said, but i'll stick to my 2% trackers, its not going anywhere, plus its flexible..
Edited by: "whatyadoinsucka" 3rd Dec 2014

Wow who's gonna have 40% deposit??

Marky1987

I am in a 10 yr fixed with Britannia, rate is far too high at just over … I am in a 10 yr fixed with Britannia, rate is far too high at just over 5%. At the time of taking it out I knew nothing about mortgages. I have a better understanding now. Moving house and will have to port this mortgage over and take a 2nd mortgage....I guess something I have just thought of, nothing to say I have to stick with Britannia for my 2nd mortgage.



5% is a normal amount, at least you know what you have to pay each month and that never changes. Also, once the term is up you will be in a better position than others if it reverts to standard variable rate. At present, because interest rates are at a historical low, the % jump that brokers are putting on the SVR is huge, it's going to be a real problem for some for sure!! Your mortgage might have less of a jump so if interest rates are still historically low when you exit the fixed, you may move to a far lower %. The mortgage I took recently has me jumping about 3.5% above the standard interest rates when I come out. Imagine that interest rates have gone back to normal - 4 or 5% then whack 3.5% on and you have the beginnings of a tough period until you re-mortgage again, if you can!

fayesmummy0212

Wow who's gonna have 40% deposit??



40k on a 100k house (up north somewhere) isn't an unreasonable request...

fayesmummy0212

Wow who's gonna have 40% deposit??



Maybe someone who has been saving hard over the past few years and isn't expecting to get something for nothing.

i just remortgage with HSBC. Went for the lifetime tracker over 30 years. it was 1.79% over base (2.29%) total. for £94000 mortgage its around £360 a month plus i'm going to do £100 extra per month overpayments which i was recommended to do via an IFA, (you end up paying less interest overall). Even with £100+ per month it's still around £100 cheaper than my previous mortgage. I would recommend the lifetime tracker, sorted the mortgage out myself over the internet, was very very easy and the helpline number answers every time and helped me along the way. Opened a premium account with them which reduced the fees to £300! Finger crossed i wont have to move to another mortgage again.

lukehadleysmith

Went for the lifetime tracker over 30 years. .



good luck with that !!! as rates climb so will your monthly payments!!!

Edited by: "cbrpaul" 3rd Dec 2014

goldengirlz

i dont know whats best for my mortgage . I'm with santander i have a 2 … i dont know whats best for my mortgage . I'm with santander i have a 2 year rate paying interest-only (I'm 1 year into the rate), there is an exit fee. but i dont know how to work oout my loan to value. flat is worth now £155k, I've got £97k left to pay (paid off £48k). and i'm unemployed so i'm a risk to the banks. any advice please? thanks



Your Loan To Value is: ~ 62% however (I'm sure you're aware anyway) but on an interest only mortgage you are not paying anything off your balance, you're only paying the interest. So in a years time your balance owing will still be £97k.

If you're unemployed and a risk to the bank you will be better off speaking to a specialist.

I recently switched from HSBC lifetime tracker (Base rate+1.69%) to their 2yr fixed (1.79%) with £299th fee up to 70% LTV. Payments reduced by £50/month and interest probably going down by that or more. Can still overpay (limited to additional 20% of regular monthly payment). Hope this helps someone thinking of going fixed. Or course speak to your IFA but bear in mind HSBC only deal direct.

Wow, great deal... shame about the fee, but it would give some certainty for a few years.
And it's portable too.
Thanks OP

hanif248

40k on a 100k house (up north somewhere) isn't an unreasonable request...



I challenge you to link to a house for £100k anywhere in England..

cbrpaul

good luck with that !!! as rates climb so will your monthly payments!!!

erm arnt you pointing out the obviously, i did state 1.79% over bases lol, but as the base rate climbs so will all the fixed rates deals, so it's swings and round abouts.

goodman1

I am an IFAWoolwich have a remortgage deal2.99% 5 year fix fee free … I am an IFAWoolwich have a remortgage deal2.99% 5 year fix fee free with£400 cash backso its down to the loan size For direct dealsPost office have a 5 year fix 2.79% with a £195 feeWith HSBC they are tied with their life and critical illnessif any one has this with them or with Connells tied to friend life Halifax tied to Scottish widowsyou are probably paying over the odds I can compare and pint you in the right direction



Hi, I have approx 70k remaining on a Intelligent Finance offset mortgage (approx equity in the house of 250k). Should I be looking to move as IF are no longer lending, or should I consolidate on their competitive bank base rate? Happy to discuss separately through formal IFA channels if you prefer (don't have the ability to PM you unfortunately)?
Edited by: "lord_trumpington" 3rd Dec 2014

The fee should reduce to £299 if you have an HSBC advance account £9.95/month for 12 months so big savings to be had

barbiegirl

I challenge you to link to a house for £100k anywhere in England..



Here you go.

barbiegirl

I challenge you to link to a house for £100k anywhere in England..



Are you kidding? There's literally thousands of them!

Here's just one (as you requested)
CLICKY
Edited by: "tonikeys" 3rd Dec 2014

I wish HSBC would give me a grand for saving with them..:(

Think thats a very good deal indeed. i have been on a woolwich offset and tracker and pay less than this, however rates will go up at some point so its worth looking at.

barbiegirl

I challenge you to link to a house for £100k anywhere in England..



zoopla.co.uk/for…ine

Marky1987

I am in a 10 yr fixed with Britannia, rate is far too high at just over … I am in a 10 yr fixed with Britannia, rate is far too high at just over 5%. At the time of taking it out I knew nothing about mortgages. I have a better understanding now. Moving house and will have to port this mortgage over and take a 2nd mortgage....I guess something I have just thought of, nothing to say I have to stick with Britannia for my 2nd mortgage.



might be worth looking at redemption penalties as although they may be high it may be cheaper than carrying on with the mortgage - or negotiate with your bank on a better deal - I would certainly get some ifa financial advice

barbiegirl

I challenge you to link to a house for £100k anywhere in England..



even in Reading, Berkshire you can get a property for £100K, just

If your not already paying less that 2% your a schmuck.

But thanks for subsidising my mortgage.

It's a bit late to be joining the bandwagon now, you could have had cheap rates for 4+ years if you had been on the ball.

My advice would be to sell up at these peak prices, rent and invest all your capital in Gold and Silver.

tonikeys

Are you kidding? There's literally thousands of them!Here's just one (as … Are you kidding? There's literally thousands of them!Here's just one (as you requested)CLICKY



Barbiegirl by name......

Yakkity

The fee should reduce to £299 if you have an HSBC advance account … The fee should reduce to £299 if you have an HSBC advance account £9.95/month for 12 months so big savings to be had



Are you sure this is the case for this mortgage? Can't see this
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