Found 15th Dec 2017

I wanted to share the mortgage deal I found.

They also do a fee free @ 2.19% if you don't have the money to put upfront.

I'd been looking for an 80% LTV remortgage rate as I'm due for renewal and this was the best I could find.

Obviously not as good as the 60% ones posted recently but of course it wouldn't be.

Hope it helps someone

- 80% max LTV
- 1.99% Apr
- 5 year fixed
- £749 upfront if a HSBC advanced customer (£999 if not)

They also do a fee free @ 2.19% if you don't have the money to put upfront.

I'd been looking for an 80% LTV remortgage rate as I'm due for renewal and this was the best I could find.

Obviously not as good as the 60% ones posted recently but of course it wouldn't be.

Hope it helps someone

This is usually always the case for mortgages less than about £175,000 and sometimes even much higher amounts dependent on the fee.

Quick and easy way is to use their only calculators and check the monthly amount for fee free, and also the lower interest fee paid versions. If you have a 5 year fixed mortgage you have 60 payments at a set rate, so multiply the difference between the two rates to give you a value. If this is less than the product fee, then you are worse off getting the lower rate.

Edited by:"gary333" 15th Dec 2017This is usually always the case for mortgages less than about £175,000 and sometimes even much higher amounts dependent on the fee.

Quick and easy way is to use their only calculators and check the monthly amount for fee free, and also the lower interest fee paid versions. If you have a 5 year fixed mortgage you have 60 payments at a set rate, so multiply the difference between the two rates to give you a value. If this is less than the product fee, then you are worse off getting the lower rate.

Edited by:"gary333" 15th Dec 2017If you've only got a small amount left, surely there were better rates available for your low LTV?

Glad i could help and save you some money

Already with HSBC so no hassle with solicitors surveyors etc . Also not aware of better 5 year fixed out there with no fees ?

Quick check shows nationwide and first direct doing something similar 1.99% fixed for 5 years and no fees. Everyone else has about £1000 fees which on a £35000 mortgage doesn't add up. I assume that remortgaging to either of them would incur time effort and potentially solicitor and valuation fees. So for me a current HSBC customer it's a no brainer

Bear in mind this calculation significantly depends on the total lifetime of your mortgage. If you plan to repay all within 5 years you would benefit much less from the lower rate than if you still have 30 years.

The assumption for most people should be that after 5 years they'll move onto a similar plan

find another solicitor

easier to find another lender no? kind of difficult when you have done dealings with same one for 10 years

Depends on whether you value the solicitor over the lender i guess

Every time I've calculated it, the mortgages with fees end up being the same or cheaper, even if re-mortgaging every 2-3 years. But then I'd be borrowing more than £175k.