Found 15th Feb 2010
hsbc are offering customers with an advanc account a MORTGAGE 1.99% ABOVE BASE FOR LIFE 75% LTV.

this is the best deal so far for 75% although there is a fee of £999 so worth it for large mortgages
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This is an amazing deal.
These kinds of deals may appear good in the current climate, but base rates are at a historic low. I have always gone for fixed, but I am now at stage where I can take a risk on SVR linked products.

When I took out my first mortgage early 1996 the rates were 7%, therefore you would be paying 8.99%! Also factor in up front fees of £999 (which isn't unusual with most lenders).

I am very annoyed with HSBC. We recently applied for the 2.99% discount with no fees to remortgage from Standard Life's SVR of 5.25% (fixed rate finished end of Jan). Despite flying through their initial checks (having an 45% LTV, 2.25x basic salary/loan ratio, no outstanding debt and A1 credit ), the credit analyst tried to extend our mortgage term from 11 to 17 years. This wouldn't of been too unreasonable, but the product didn't allow overpayments. My mortgage payment only accounts for 22% of my basic net income.

I know several people who have had good deals with HSBC in the past, I think they have over compensated on their risk since the banking crises. They will probably relax in a few months (when I am no longer an account holder).

Virgin on the other hand (One account) are first class. Our account has been setup inside 3 weeks. I am warming to the idea of having everything in one place (a real incentive to pay it off). They only offer a SVR of 3.75%, but there is no tie in.
IMO there is a better deal(no fee discounted for 2 years) from HSBC at 80% LTV, can't remember if it's only for HSBC plus customers, worth checking on the website. In present circumstances it is very unlikely that you will stay with the present mortgage for over two years.even if you have to pay a fee when you switch, you are not paying any fee now
Better to fix now before the rates shoot up over the next 2/3 years.

Better to fix now before the rates shoot up over the next 2/3 years.

Fixed deals are still pretty high if you want 4 years+. Principality for example had 4.6%, but many lenders are still 5% plus. There used to be no obligation online comparison tools where your contact details where optional.

Fixed deals for 2.99% are available, but they are only for 2 years and require a £1000 booking fee. It all depends on your circumstances. 2 to 3 years and interest rates will be back to normal (when 5.75% fixed appears competative).
2 year or 3 year deals are a rip off, imagine you changed deals evey 2 years and a £999 each time , you end up paying over £12,000 worth of arrangement fees
sounds mad right now but in a couple of years we may have to raise rates quickly to combat runaway inflation .

Inflation will help the country reduce its debt so watch out.. I d get a fix even if it seems too high a rate to be paying right now. Mind i wouldnt be buying anything unless its a bargain that can drop 15% in value and still be a good buy,double dip anyone?

i can honestly see things going just the same way they did in the 80's … i can honestly see things going just the same way they did in the 80's inflation sky high, VAT is going up whoever gets in to 20%, mortgage rates will top 10% , council tax up, everything is going to go through the roof in the next 2-4 years, there will more much more unemployment, more people losing their homes, the tories (cos they will get in next time) blaiming labour, so the tories will sort out the mess labour got us into then in 10years the tories will do the exact same thing and labour will get back in and sort us out and do it all over again, its the same pattern no matter who is in charge and has been for god knows how many years.look at things in the long term not the here and now. fix rates where ever you can better to pay a bit over then lose the lot

I can't believe how much I agree with this view -- :thumbsup:

My current rate is 0.85+BoE Base Rate, and atm, I can't see me leaving it. But, as soon as interest rates start moving up, I'll start looking into a fixed rate, and make sure it's a long-term one
This thread looks pretty dead, but to anyone who is actually reading this...

Please take the above post with caution; I've worked in the finance industry for over 20 years - so hopefully I can actually over an informed view. The base rate at the moment is 0.5% this has been the same for many months. To say that it will definitely go up along with many other prices, is absolute rubbish. The bank of England has declared that they will try to keep the base rate below 1% for 2010.

Inflation has risen sharply in the last few months; this is due to many reasons. inflation rising does not mean BOE base rate change – in fact it's more likely to be the reverse, as the BOE rate continues to stay low, inflation will probably fall, perhaps to record lows (and risk the chance of deflation) this is primarily due to static or very low wage increases. (e.g. people earn less money, retail has to be more competitive to win consumers).

Relating this to this deal, whilst I’ve not checked this rate against all competitors. Hotukdeals is meant to be a site to highlight the best currently available deals, if you continue to wait for the market to change you'll always be waiting. Normal advice is to not tie yourself in for long fixed terms, and make sure you look around for the best deals.

Apologies for the essay...

I've worked in the finance industry for over 20 years

man you must be like 40 or something!!!!
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