HSBC 2yr Fixed Rate Mortgage 2.19% fee free, 60%LTV. For those re-mortgaging.
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HSBC 2yr Fixed Rate Mortgage 2.19% fee free, 60%LTV. For those re-mortgaging.

122
Found 2nd Sep 2014
If you have the equity (60% LTV), and want to re-mortgage on a fixed rate for 2 years, then this appears to be a reasonable deal.
Now even better with 80% LTV. (13/09/14)

Norwich and Peterborough building society better ltv and rate

N&P are better for most people

Provide a 1.99% 2 year fixed with £195 fee

On a £100k mortgage thr interest difference in £190 in first year aprox so cheaper to pay a small fee

Also do a 3 year for 2.74% with £195 fee (65% ltv also)
- dodgymix

122 Comments

2.19% fee free? Grab it while you can! People will look back on this thread in a few years and dream of this kind of rate.

If only I was at 60% This looks great

Personally I would go for a longer 5 year fix, as interest rates likely to be higher in 2 years, but its a good deal so heat added

5 year fixed is 2.99% with £499 Booking fee for HSBC customers and £999 Booking fee for Non-HSBC customers

I'm with HSBC 1% above base rate, that okay? so on 1.5% currently.

These deals change daily, hopefully something as good is available in November when my current deal expires. Fee free and a good rate. Heat added.

Re: two years fixed.

It we moved after a year but stayed with HSBC (bigger mortgage), would there be a penalty?

In the small print I guess?

thanks OP, will have a good read of this one a bit later.

Tempting but the 5 year fix looks better for me.

Just tied in for 10 years with Woolwich @3.99% Big £1499 fee but worth it for the security involved. If rates were once in double figurers there's no reason why they can't go back up towards there in time.

Just took out the 5 year fixed @ 3.19% with no fees (60% LTV). Grab it while you can.

Will rates really rise that much? Surely it will break many householders??

Long term fixes often come with early redemption fees. Just think if a job was lost or illness and you were forced to downsize or sell outright. These penalties can be high.

Great deal, same rate as I currently pay on my tracker without the security... shame I'm thinking of moving in the next year or I'd have gone for this.

Yermar

Will rates really rise that much? Surely it will break many householders??


I have had a mortgage starting at 5.5% and ending up at 18.75% so they can go up that much

mr_spatel

I'm with HSBC 1% above base rate, that okay? so on 1.5% currently.


Not as good as my 0.45% above base with RBS.

mrcoyote

Not as good as my 0.45% above base with RBS.



Still.. RBS

Have a question on this. If one takes out a mortgage for £300k for a property worth £400k (so LTV is 75%), if a few years later the property is now worth £600k based on local prices advertised, does that mean the LTV ratio is now 50% (assuming the mortgage is still at £300k)?

furq

Re: two years fixed.It we moved after a year but stayed with HSBC (bigger … Re: two years fixed.It we moved after a year but stayed with HSBC (bigger mortgage), would there be a penalty?In the small print I guess?



You'll be fine - we had a 10yr fixed rate and transferred it to a bigger property. Check what the rate changes to after the fix finishes (and compare with other mortgages)
Edited by: "toonarmani" 2nd Sep 2014

rofldinho

Have a question on this. If one takes out a mortgage for £300k for a … Have a question on this. If one takes out a mortgage for £300k for a property worth £400k (so LTV is 75%), if a few years later the property is now worth £600k based on local prices advertised, does that mean the LTV ratio is now 50% (assuming the mortgage is still at £300k)?




Yes it goes on the current value of your property. For a house price of that value you will probably have to get a valuation done.

Rates will never go up to double figures, not in a lot of our lifetimes,can you imagine how many people would loose their homes.

I got 70% and 1.49 lifetime tracker so 1.99 few months ago... had a feeling rates were going to get worse hence me locking the rate in by paying 500 when I applied. sure enough 5 days later it was only available to 60% LTV peeps with £499 fee for current account holders.

Also remember you can only over-pay up to 20% extra (of standard monthly payment) on a HSBC fixed rate mortgage.
Edited by: "toonarmani" 2nd Sep 2014

rofldinho

Have a question on this. If one takes out a mortgage for £300k for a … Have a question on this. If one takes out a mortgage for £300k for a property worth £400k (so LTV is 75%), if a few years later the property is now worth £600k based on local prices advertised, does that mean the LTV ratio is now 50% (assuming the mortgage is still at £300k)?



I'm not in the market but I don't think they would adjust your rate to take account of the changing LTV. I think you would have to remortgage to get that. Perhaps if you said you were going to go elsewhere they would cut you a deal.

I'm with Santander who were dragging their feet to give us 100k on a 12k balance with a property worth 400k.

I've managed to get 3.99% which isn't great compared with this but well be overpaying and reducing term from day one.

Will the new lending criteria throw out most applications any way. With a joint salary close to 50k with no other personal lending it was a real struggle getting it through.

Great deal

stepp

Rates will never go up to double figures, not in a lot of our … Rates will never go up to double figures, not in a lot of our lifetimes,can you imagine how many people would loose their homes.



It's happened before. No reason why it couldn't again.

Overpayment of 20% of monthly DD sucks on this. Whilst rates are low and i'm earning well, I'm hitting 75-80% overpayment a month.

Of course, I could get the HSBC mortgage and knock some years off the term, but I don't want to have to commit to the large payments.

Cold for me I'm afraid

Got a YBS - 5 years fix 2.44% few months ago!

Personally find HSBC awful

After they got fined for money laundering they started. Closing accounts for no apparent reason.. Search google "HSBC closed my account for no reason"

N&P are good

Provide a 1.99% 2 year fixed with £195 fee

On a £100k mortgage thr interest difference in £190 in first year aprox so cheaper to pay a small fee

Also do a 3 year for 2.74% with £195 fee (65% ltv also)

People struggling to save up 10%. Why cant they do 2.x% with 10% deposit? That will solve have the problem

furq

Re: two years fixed.It we moved after a year but stayed with HSBC (bigger … Re: two years fixed.It we moved after a year but stayed with HSBC (bigger mortgage), would there be a penalty?In the small print I guess?



Typically no, it would be if you opted to repay the mortgage, which would normally be by remortgaging with a different bank. We got caught though by Northern Rock though a few years back as the small print meant they wouldn't let us buy the place we wanted - £3500 on a £70k loan.

mrcoyote

Not as good as my 0.45% above base with RBS.



Didn't take too long....;)

montana78

People struggling to save up 10%. Why cant they do 2.x% with 10% deposit? … People struggling to save up 10%. Why cant they do 2.x% with 10% deposit? That will solve have the problem



Banks throwing around cheap mortgages to everybody and anybody is what got this countries housing market into the mess it currently is.

Better customers get better deals. Simples

I the BoE base rate will not reach double figures for a very long time. My rate is currently 2% above the base rate and I don't expect to get back up to the 6.5% I was paying for a long time. Only 22 years to go....

montana78

People struggling to save up 10%. Why cant they do 2.x% with 10% deposit? … People struggling to save up 10%. Why cant they do 2.x% with 10% deposit? That will solve have the problem



It's because there's a lot more chance if you default and they won't be able recover 90% by selling the house. They charge you to take that risk.

dwoodys

Just took out the 5 year fixed @ 3.19% with no fees (60% LTV). Grab it … Just took out the 5 year fixed @ 3.19% with no fees (60% LTV). Grab it while you can.



Absolute cracking deal !!!

I got 3.29% 5 year fixed , with FD , fee free 2 months ago and I thought that would never be beaten in the present climate !!

I have been proved wrong with this one !! wow !!

What a con! Banks just create this money out of thin air!

I must admit I am baffled by this latest move by HSBC ? which First Direct is its sister company !! it goes against all what is expected that BoE is to raise base rates soon !!

The FD deal for 5 year fix at 2.89% is good , but comes with a hefty £1450 fee, added to your mortgage, so your paying nearly 3% on this amount also, over the period of the loan !!!
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