Unfortunately, this deal is no longer available
5 Year Fixed Standard Mortgage (Until 30/06/2025) 1.44% + £999 fee 60% LTV @ HSBC
1097° Expired

5 Year Fixed Standard Mortgage (Until 30/06/2025) 1.44% + £999 fee 60% LTV @ HSBC

55
Posted 16th Feb

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

HSBC 5 Year Fixed Standard mortgage @1.44% +£999 fee
60LTV
slightly cheaper if you HAVE HSBC PREMIER ACCOUNT
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Whether you're a first time buyer or looking to remortgage, we offer different levels of flexibility and security across all our mortgages, subject to a maximum Loan To Value (LTV). The loan to value represents the percentage of the value of the property which you want to borrow. E.g. a £100K property with an £80K mortgage = an 80% LTV.

The rates shown below are available for new and existing HSBC mortgage customers.

Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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I tried to see what my current rate is but all i managed to do was completely lock myself out of my account and get all my own security checks wrong...a visit to the local branch to reset it is
55 Comments
Not exact science but if you have £100k+ outstanding and assuming 15 years to spread, this option should be cheaper than 1.69% deal with no fee... Obviously will depend on individual circumstances...
Excellent rate for a 5 year mortgage reducing the hassle and paperwork as compared to a 2 year fixed.
999 fee...phew
I tried to see what my current rate is but all i managed to do was completely lock myself out of my account and get all my own security checks wrong...a visit to the local branch to reset it is
matedodgy16/02/2020 20:49

999 fee...phew


Reasonably standard fee surely. (not saying the fee is reasonable mind).

But that is something to bear in mind with 1 or 2 year deals. Have great rates (little to no uncertainty on the rate path for the lender) but you have to fork out the fees repeatedly. Zero fee deals compensate for this with the rate.


Plus the time and arrangement should have a cost to you, depending on how much you value your leisure time. I'm very much in the longer, reasonable rate, good provider camp.

Heated. Good deal.
My current rate 1.85% no fee with 5 years fixed
vikasjas16/02/2020 20:12

Not exact science but if you have £100k+ outstanding and assuming 15 years …Not exact science but if you have £100k+ outstanding and assuming 15 years to spread, this option should be cheaper than 1.69% deal with no fee... Obviously will depend on individual circumstances...


The lower interest rate product also erodes more capital in the 5 year period, so after 5 years there will be a smaller outstanding balance on the mortgage than with the no fee product. It’s always worth running the figures though if your balance is around £120k. Any lower and it gets close to being better for no fee, depending on term.
donny126616/02/2020 22:00

The lower interest rate product also erodes more capital in the 5 year …The lower interest rate product also erodes more capital in the 5 year period, so after 5 years there will be a smaller outstanding balance on the mortgage than with the no fee product. It’s always worth running the figures though if your balance is around £120k. Any lower and it gets close to being better for no fee, depending on term.


Any help with running the numbers. I want to make my own spreadsheet
zsm90116/02/2020 21:38

My current rate 1.85% no fee with 5 years fixed


This isn't particularly helpful as it totally depends on how large your mortgage is. If you had one that's £200k for example your rate would be costing you an extra £800 worth of interest a year, so this would be a far better deal.
I am looking to borrow around 400k - first time buyer.

I am in the process of contacting a mortgage broker, but keen to examine the direct lender market as well. Is HSBC well regarded? Any flags to hot deals that I should be aware of?

Sounds by the commentary that a relatively lower, with fee, fixed rate deal might be favourable. This given the size of the loan.

Keen to hear opinions and recommendations. Thank you in advance!
postawam17/02/2020 13:20

I am looking to borrow around 400k - first time buyer.I am in the process …I am looking to borrow around 400k - first time buyer.I am in the process of contacting a mortgage broker, but keen to examine the direct lender market as well. Is HSBC well regarded? Any flags to hot deals that I should be aware of? Sounds by the commentary that a relatively lower, with fee, fixed rate deal might be favourable. This given the size of the loan.Keen to hear opinions and recommendations. Thank you in advance!


I've had various lenders over the years. There's not much between them in regards to service.. not that I've ever needed to call any of them much. Therefore I'd go with the best rate. You'll usually find that will be HSBC so I'd recomend them provided you can meet their criteria. They don't accept anyone but once you're in, you're in
vikasjas16/02/2020 20:12

Not exact science but if you have £100k+ outstanding and assuming 15 years …Not exact science but if you have £100k+ outstanding and assuming 15 years to spread, this option should be cheaper than 1.69% deal with no fee... Obviously will depend on individual circumstances...


When comparing between the two deals, I believe you should compare how much you pay interest over 5 years (not 15 years).
Comparing the three 5 year options i.e. fee saver, Standard 5 yr, Premier 5 yr. I found my repayments to be:
Standard: £32 per month cheaper than fee saver (over the 60 payments thats £1,920 cheaper - taking away the booking fee of £999 - that leaves me £921 better off)
Premier: £36 per month cheaper than fee saver (over 60 payments thats £2,160 cheaper - taking away the booking fee of £1,499 - that leaves me £661 better off)
so the Standard option seems to be the better option despite Premier being the lower rate.
I guess its a game of ratios so may not always be the same for all.
devlo17/02/2020 17:55

Comparing the three 5 year options i.e. fee saver, Standard 5 yr, Premier …Comparing the three 5 year options i.e. fee saver, Standard 5 yr, Premier 5 yr. I found my repayments to be:Standard: £32 per month cheaper than fee saver (over the 60 payments thats £1,920 cheaper - taking away the booking fee of £999 - that leaves me £921 better off)Premier: £36 per month cheaper than fee saver (over 60 payments thats £2,160 cheaper - taking away the booking fee of £1,499 - that leaves me £661 better off)so the Standard option seems to be the better option despite Premier being the lower rate.I guess its a game of ratios so may not always be the same for all.


But don't forget that the lower rate with fee may erode more of your capital on total borrowings. :-)
postawam17/02/2020 13:20

I am looking to borrow around 400k - first time buyer.I am in the process …I am looking to borrow around 400k - first time buyer.I am in the process of contacting a mortgage broker, but keen to examine the direct lender market as well. Is HSBC well regarded? Any flags to hot deals that I should be aware of? Sounds by the commentary that a relatively lower, with fee, fixed rate deal might be favourable. This given the size of the loan.Keen to hear opinions and recommendations. Thank you in advance!


My advice is to do the calculations by yourself, it is not really hard. Mortgage brokers are useless most of the time, they just think about how much you will pay in total (including repayments of your mortgage). I mainly care about how much interest+fee I will pay in the fixed term of the mortgage.
I will renew the my mortgage in couple of months, and I did get quotes from brokers: 1) they gave me deals that I could access directly, no need for a broker. 2) They recommended the wrong deals (I would have to pay more interest+fee).
Simply, I will just do the numbers by myself
There's an HSBC just over 5 year fixed deal at 1.41% although if has a £1500 fee. Might be worth comparing?
Picked up from MSE website;
moneysavingexpert.com/mor…%2F
A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with Nationwide yesterday. How can this be a good deal?

Few months back I tried getting a personal loan of 12k but the lowest they would offer was 19% APR, went straight to Nationwide and they gave me 2.9% APR...I feel like HSBC are ripping people off.
Abijadeplatt9616/02/2020 20:52

I tried to see what my current rate is but all i managed to do was …I tried to see what my current rate is but all i managed to do was completely lock myself out of my account and get all my own security checks wrong...a visit to the local branch to reset it is


HSBC are exceptionally bad with security. I've done this many times. On the flip side if its this difficult for me to access my own account... Good luck to hackers!
Go and speak to a fee free mortgage advisor.. they get broker only deals and will likely beat this

L&C are excellent
Edited by: "dodgymix" 20th Feb
Azadking . AOA. My 2 year deal is coming to an end and was looking to remortgage soon, I’ll be needing 180k to 190k so could you pls share the How to method with me so that I can work myself what’s the best deal I should go for . Jzk
Mizanul_Karim18/02/2020 00:55

A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with …A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with Nationwide yesterday. How can this be a good deal?Few months back I tried getting a personal loan of 12k but the lowest they would offer was 19% APR, went straight to Nationwide and they gave me 2.9% APR...I feel like HSBC are ripping people off.


Pls share details as best I can see at nationwide on that term and LTV is 1.54%
Mizanul_Karim18/02/2020 00:55

A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with …A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with Nationwide yesterday. How can this be a good deal?Few months back I tried getting a personal loan of 12k but the lowest they would offer was 19% APR, went straight to Nationwide and they gave me 2.9% APR...I feel like HSBC are ripping people off.


Have you got a link to that deal as I cant find it on nationwide website
The First Direct deal is 0.05% more but allows a lot more flexibility in making overpayments (if that’s what you are looking for)
Just a quick question. My mortgage deal mining to an end but circumstances have changed my wife doesn't work any more, I was getting new deal with same bank last 10 years because of that so do the new bank still do the full credit score etc? I think I know the answer just want to double check with people who's been similar circumstances
Mizanul_Karim18/02/2020 00:55

A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with …A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with Nationwide yesterday. How can this be a good deal?Few months back I tried getting a personal loan of 12k but the lowest they would offer was 19% APR, went straight to Nationwide and they gave me 2.9% APR...I feel like HSBC are ripping people off.


They have to pay for the 10000 redundancy packages somehow
60% ltv😫
If you can do a 60%ltv, then you can basically get a rate like this from many places
Mizanul_Karim18/02/2020 00:55

A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with …A friend of mine got a 1.34% rate on 5 year fixed at 70% LTV with Nationwide yesterday. How can this be a good deal?Few months back I tried getting a personal loan of 12k but the lowest they would offer was 19% APR, went straight to Nationwide and they gave me 2.9% APR...I feel like HSBC are ripping people off.


You must have got the wrong information. I am with Nationwide for 2 years now, and I am looking for new deals. They 1.34% is for 2 years fixed with £999 fees. For my situation, Lloyds deal 2 years fixed of 1.29% with £999 fees is better (I get £200 cashback).
1.44% £999 fee against 1.69% no fee
break even
I/O £79,920
40y £86,670
30y £88,540
20y £92,600
10y £107,540
Don't give a penny to hsbc. They 'only' made £10bn profit this year so decided to get rid of 30000 staff, despite those staff helping achieve record profits and dividends

This bank deserves to go under
my current fixed mortgage plan finishes in May 2021, can i switch early or do i have to wait until after May 2021?
postawam17/02/2020 13:20

I am looking to borrow around 400k - first time buyer.I am in the process …I am looking to borrow around 400k - first time buyer.I am in the process of contacting a mortgage broker, but keen to examine the direct lender market as well. Is HSBC well regarded? Any flags to hot deals that I should be aware of? Sounds by the commentary that a relatively lower, with fee, fixed rate deal might be favourable. This given the size of the loan.Keen to hear opinions and recommendations. Thank you in advance!


I found HSBC the worst by far in terms of the hoops they make you jump through when applying. I gave up after a couple of months in the end and got as good a deal through a broker. There are cashback sites equivalent to quidco etc if you are going to arrange yourself
killabyte18/02/2020 12:57

my current fixed mortgage plan finishes in May 2021, can i switch early or …my current fixed mortgage plan finishes in May 2021, can i switch early or do i have to wait until after May 2021?


6 months before you should start scouting
You can also get the preferential HSBC Premier account mortgage rate if your parents or grandparents have an HSBC Premier account. You don't need to have one yourself.
killabyte18/02/2020 12:57

my current fixed mortgage plan finishes in May 2021, can i switch early or …my current fixed mortgage plan finishes in May 2021, can i switch early or do i have to wait until after May 2021?


When you signed up to the mortgage and on the annual statements you received it will have a part about early repayment charge.

This is important and something you should be aware of. So you can exit early, But there will be a cost.

Depending on circumstances and ability to repay there are times when you will be better off paying the charge and switching providers. But that's quite a bit more analysis and in general you want to see out your term.


To the other more general discussion. I look at how much Captial I have left to pay at the end of the promotional period. What is the amount you will be left with and needing to remortgage basically.


So that's the important number to me, presumably on that spreadsheet linked above.


Finally. worth considering what happens at the end of your term. Can you get a good rate with the same provider. Or do they only offer new customer offers? Nationwide are good for this and offer competitive /same rates to existing customers.
postawam17/02/2020 13:20

I am looking to borrow around 400k - first time buyer.I am in the process …I am looking to borrow around 400k - first time buyer.I am in the process of contacting a mortgage broker, but keen to examine the direct lender market as well. Is HSBC well regarded? Any flags to hot deals that I should be aware of? Sounds by the commentary that a relatively lower, with fee, fixed rate deal might be favourable. This given the size of the loan.Keen to hear opinions and recommendations. Thank you in advance!


LTV = 60% on this deal. That's some deposit for a first time buyer.
My current mortgage deal expires in October, when should I be looking to start sorting my new one?
I'm a first time buyer. What is the best way to find out how much I can secure from a mortgage?

Are brokers any good? I've heard a lot of people say they have the same deals in which are offered directly from the banks.
getmore4less18/02/2020 11:27

1.44% £999 fee against 1.69% no feebreak even I/O £79,92040y £86,67030y £8 …1.44% £999 fee against 1.69% no feebreak even I/O £79,92040y £86,67030y £88,54020y £92,60010y £107,540


As this is a five year fixed rate deal, I expect most people are only interested in comparing the cost of this deal against the HSBC 1.69% (with zero fee) rate over the five years because after that ends, they will probably be looking to remortgage again anyway to get the best rate.

Using a mortgage calculator, with the £999 fee paid upfront and a 30-year repayment mortgage, for this deal to recoup that fee and cost the same as the HSBC 1.69% fee-free deal over the 5 years, you would need a minimum mortgage of about £140K. For a 25-year repayment mortgage you need a mortgage of approx £145K to break even over the 5 years. For mortgages lower than that, the HSBC 1.69% fee-free deal works out cheaper plus of course you don't need to find and pay £999 upfront. The higher your mortgage is above those figures, the better this deal becomes. As mortgage length is also a factor in working out these figures because that is what determines your monthly payments, if for example you only have or want a 10-year mortgage you would need to be borrowing above £150K before this 5 year deal starts to work out cheaper than the HSBC 1.69% fee-free 5 year deal.
Edited by: "Robbo11" 20th Feb
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