Unfortunately, this deal is no longer available
Tracker mortgage 0.99% (75 % LTV) & 0.89% (60 %LTV) for 2yrs + £999 booking fee @ HSBC
1758° Expired

Tracker mortgage 0.99% (75 % LTV) & 0.89% (60 %LTV) for 2yrs + £999 booking fee @ HSBC

103
Posted 13th Mar

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

With recent drop in Bank of England interest rate to 0.25% lowest ever, the tracker rates are reduced

a) 0.99% (75 % LTV)-0.74 % above BoE rate
b) 0.89% (60 % LTV)-0.64 % above BoE rate

£999 booking fee applies

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Has unlimited overpayments and no early repayment charges also!

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That's a hefty fee and only a 2 year tracker - check out the APR rather than the headline rate and these will actually be more expensive than they seem.
deleted244419114/03/2020 00:15

damn. just signed up for 1.4% at FD although i don't expect BoE to hold …damn. just signed up for 1.4% at FD although i don't expect BoE to hold this rate for a long while


With corona and then brexit smashing the economy like 2 wrecking balls I wouldn't expect the rate to go up by much...
Youngsyr13/03/2020 23:22

That's a hefty fee and only a 2 year tracker - check out the APR rather …That's a hefty fee and only a 2 year tracker - check out the APR rather than the headline rate and these will actually be more expensive than they seem.


Apr sucks for mortgages tho as it assumes you stay on the SVR at some random high rate after the 2 years.
Youngsyr13/03/2020 23:22

That's a hefty fee and only a 2 year tracker - check out the APR rather …That's a hefty fee and only a 2 year tracker - check out the APR rather than the headline rate and these will actually be more expensive than they seem.


You only need a £200k mortgage for this be better off than a 1.2% 2 year fix mortgage with no fee, so while I don't disagree people do their calculations, more often than not it's worth paying larger fees for better rates.

edit: As a few have pointed out, I probably should have said 'often' rather than 'more often than not', but it all boils down to the fact that it will be totally dependant on the value of your mortgage as to whether this is a 'deal' - just do the maths.

moneysavingexpert.com/mor…es/
Edited by: "SirSpanky" 14th Mar
103 Comments
Wow those are seriously good rates - wish I had that much deposit Heat added.
I wish Halifax could do the same
Cheaper at NatWest. 0.49% above base at NatWest 60% and 0.57% above base for 75% LTV. Doesn’t have unlimited overpayments though. Better option if you don’t mind 10% overpayment limit.
Edited by: "donny1266" 14th Mar
That's a hefty fee and only a 2 year tracker - check out the APR rather than the headline rate and these will actually be more expensive than they seem.
Youngsyr13/03/2020 23:22

That's a hefty fee and only a 2 year tracker - check out the APR rather …That's a hefty fee and only a 2 year tracker - check out the APR rather than the headline rate and these will actually be more expensive than they seem.


Apr sucks for mortgages tho as it assumes you stay on the SVR at some random high rate after the 2 years.
Youngsyr13/03/2020 23:22

That's a hefty fee and only a 2 year tracker - check out the APR rather …That's a hefty fee and only a 2 year tracker - check out the APR rather than the headline rate and these will actually be more expensive than they seem.


You only need a £200k mortgage for this be better off than a 1.2% 2 year fix mortgage with no fee, so while I don't disagree people do their calculations, more often than not it's worth paying larger fees for better rates.

edit: As a few have pointed out, I probably should have said 'often' rather than 'more often than not', but it all boils down to the fact that it will be totally dependant on the value of your mortgage as to whether this is a 'deal' - just do the maths.

moneysavingexpert.com/mor…es/
Edited by: "SirSpanky" 14th Mar
Avatar
deleted2444191
damn. just signed up for 1.4% at FD
although i don't expect BoE to hold this rate for a long while
deleted244419114/03/2020 00:15

damn. just signed up for 1.4% at FD although i don't expect BoE to hold …damn. just signed up for 1.4% at FD although i don't expect BoE to hold this rate for a long while


With corona and then brexit smashing the economy like 2 wrecking balls I wouldn't expect the rate to go up by much...
deleted244419114/03/2020 00:15

damn. just signed up for 1.4% at FD although i don't expect BoE to hold …damn. just signed up for 1.4% at FD although i don't expect BoE to hold this rate for a long while


What makes you say that?
jameswalker45714/03/2020 03:25

What makes you say that?


Exactly, people have been saying the same for years. Government influencing interest rates and the economy being in trouble means low rates are here to stay. Government doesn't want you saving, it wants you spending, mortgages, high consumerism on credit cards etc
TKDBlackbelt14/03/2020 06:27

Exactly, people have been saying the same for years. Government …Exactly, people have been saying the same for years. Government influencing interest rates and the economy being in trouble means low rates are here to stay. Government doesn't want you saving, it wants you spending, mortgages, high consumerism on credit cards etc


I'm fuming I've fixed mine at 1.89 a few months back.

Personally I think they've been looking for a reason to drop. This could be a move with a new cabinet too. Looks like I'll be over paying the mortgage rather than saving now. Literally nowhere to keep your money at a good rate now.

Can't see this changing any time soon.
Edited by: "jameswalker457" 14th Mar
jameswalker45714/03/2020 06:32

I'm fuming I've fixed mine at 1.89 a few months back.Personally I think …I'm fuming I've fixed mine at 1.89 a few months back.Personally I think they've been looking for a reason to drop. This could be a move with a new cabinet too. Looks like I'll be over paying the mortgage rather than saving now. Literally nowhere to keep your money at a good rate now.Can't see this changing any time soon.


hahah..Iam as angry as you. I fixed two years ago for 5 years at 1.79%. Let's hope the rate will be decent when time comes to remortgage
SirSpanky13/03/2020 23:46

You only need a £200k mortgage for this be better off than a 1.2% 2 year …You only need a £200k mortgage for this be better off than a 1.2% 2 year fix mortgage with no fee, so while I don't disagree people do their calculations, more often than not it's worth paying larger fees for better rates.


What he said
With what is happening now
Would people avoid buying a house for at least a few months
Are we in a crash
Avatar
deleted2444191
jameswalker45714/03/2020 03:25

What makes you say that?


gut feeling. nothing scientific. the BoE lowered rates because of the virus pandemic. I think they'll put it back. Others will disagree etc.
Anyone got any thoughts on fixed rates without fees coming down. For example nationwide have a 5 year fixed at 1.89% no fee for my ltv, and although trackers and svr has come down, the fixed rates seem to be the same as before the BoE cut. Just wondering if I should bite the bullet or wait to see if a price war starts and fixed rates drop too :/
kyle1234c14/03/2020 00:18

With corona and then brexit smashing the economy like 2 wrecking balls I …With corona and then brexit smashing the economy like 2 wrecking balls I wouldn't expect the rate to go up by much...


👆🏻this
Edited by: "joedredd" 14th Mar
Youngsyr13/03/2020 23:22

That's a hefty fee and only a 2 year tracker - check out the APR rather …That's a hefty fee and only a 2 year tracker - check out the APR rather than the headline rate and these will actually be more expensive than they seem.


Agreed.

Please peoole do the maths, dont just look at the top line figure
m7teen14/03/2020 07:30

With what is happening now Would people avoid buying a house for at least …With what is happening now Would people avoid buying a house for at least a few months Are we in a crash


Depends on your situation, if you’re looking to buy, sell, upscale or downscale or the motivation to move. For instance, a nice property in the middle of a field with self sustainable features is quite attractive right now.
I’d expect a slowdown as the economy crashes, companies fail and people get layed off.
Edited by: "joedredd" 14th Mar
jameswalker45714/03/2020 06:32

I'm fuming I've fixed mine at 1.89 a few months back.Personally I think …I'm fuming I've fixed mine at 1.89 a few months back.Personally I think they've been looking for a reason to drop. This could be a move with a new cabinet too. Looks like I'll be over paying the mortgage rather than saving now. Literally nowhere to keep your money at a good rate now.Can't see this changing any time soon.


Try premium bonds. Myself and 3 of my friends have put in about 3 grand each and annually we have all won back more money than any interest earned in a savings account.
tripp2dope14/03/2020 07:55

Try premium bonds. Myself and 3 of my friends have put in about 3 grand …Try premium bonds. Myself and 3 of my friends have put in about 3 grand each and annually we have all won back more money than any interest earned in a savings account.


I just put all my cash in my children's name ATM now 5 percent regular savings at disappearing.

Instant access 10k @ 3.5 percent isn't bad
Avatar
deleted2444191
tripp2dope14/03/2020 07:55

Try premium bonds. Myself and 3 of my friends have put in about 3 grand …Try premium bonds. Myself and 3 of my friends have put in about 3 grand each and annually we have all won back more money than any interest earned in a savings account.


really? my wife has her inheritance in PB and has won £25 in 5 years. I keep telling her that she's throwing money away as it's not making any interest at all and if inflation goes up then she's lost money because it's worth less. I thought it was all a scam personally.

The best i'm getting is 1.45% interest with a marcus account but i'm expecting them to start cutting rates too now :/
deleted244419114/03/2020 07:59

really? my wife has her inheritance in PB and has won £25 in 5 years. I …really? my wife has her inheritance in PB and has won £25 in 5 years. I keep telling her that she's throwing money away as it's not making any interest at all and if inflation goes up then she's lost money because it's worth less. I thought it was all a scam personally.The best i'm getting is 1.45% interest with a marcus account but i'm expecting them to start cutting rates too now :/


Well we've been doing it for 2 years now so maybe lady luck is just shining on us..atm I'm putting any extra cash i have into it rather than overpaying the mortgage but if my luck changes I'll have to reverse that decision
Do they do 25% ltv?
Before the crash in rate in 2008 we landed our mortgage with HSBC. Lifetime tracker, 0.99 above base, no overpayment/early repayment fees and no set up fee.

Then we surfed the wave as rates dropped from 4.5%.

Cant see us ever changing it, just wish I'd spent the £600 to have the 0.69 above base one instead
tripp2dope14/03/2020 08:06

Well we've been doing it for 2 years now so maybe lady luck is just …Well we've been doing it for 2 years now so maybe lady luck is just shining on us..atm I'm putting any extra cash i have into it rather than overpaying the mortgage but if my luck changes I'll have to reverse that decision


Premium bond prize fund is reducing to 1.3%. If you have close to the maximum 50k holding you have a fair chance of earning close to that level of return. So it's about on a par with the best buy isas, but if you only have a couple of grand in there you have to get very lucky to win anything.
richteabiscuit14/03/2020 08:13

Premium bond prize fund is reducing to 1.3%. If you have close to the …Premium bond prize fund is reducing to 1.3%. If you have close to the maximum 50k holding you have a fair chance of earning close to that level of return. So it's about on a par with the best buy isas, but if you only have a couple of grand in there you have to get very lucky to win anything.


Uh oh
And Bingo - one good thing about corona is bargain mortgages!
Cracking deal, gutted we fixed last year for 5 years. Hefty fee yes but if you have a big mortgage like us it's worth it.
Rough calculation, if you have more than 300k borrowed this is a great deal
Better off with a lightly higher rate and no fee if your mortgage is smaller.
martin.tomlinsong3d14/03/2020 08:10

Before the crash in rate in 2008 we landed our mortgage with HSBC. …Before the crash in rate in 2008 we landed our mortgage with HSBC. Lifetime tracker, 0.99 above base, no overpayment/early repayment fees and no set up fee.Then we surfed the wave as rates dropped from 4.5%.Cant see us ever changing it, just wish I'd spent the £600 to have the 0.69 above base one instead


Trumping you on this! Still paying back my Woolwich (now Barclays) tracker from 2006. 0.19% above base rate with no early repayment fees!!!!
Brilliant !!! Amazing HSBC are the best never have they been helped by the government !!!
apswfc14/03/2020 08:52

Trumping you on this! Still paying back my Woolwich (now Barclays) tracker …Trumping you on this! Still paying back my Woolwich (now Barclays) tracker from 2006. 0.19% above base rate with no early repayment fees!!!!


Jesus, I thought my 0.79 above BoE HSBC was good! Mine was a 100% mortgage though (I even transferred this when I moved house and got a separate mortgage).
I have one year left of a five year fixed 2.48% with Santander easily qualify 60% ltv, thinking of another 5yr fixed. Anyone know whether there’d be a significant get out fee or whether it’s worth jumping now and what to?
edwardo197314/03/2020 09:01

I have one year left of a five year fixed 2.48% with Santander easily …I have one year left of a five year fixed 2.48% with Santander easily qualify 60% ltv, thinking of another 5yr fixed. Anyone know whether there’d be a significant get out fee or whether it’s worth jumping now and what to?


You will have to pay an early redemption fee - usually 3% of what's left on your mortgage
Do we think we’ll see any movement in fixed rate products coming to the market. No one seems to have changed their new mortgage fixed rates.

Just to be clear I don’t mean if you’re already on a fixed rate mortgage I mean taking out a new one.
edwardo197314/03/2020 09:01

I have one year left of a five year fixed 2.48% with Santander easily …I have one year left of a five year fixed 2.48% with Santander easily qualify 60% ltv, thinking of another 5yr fixed. Anyone know whether there’d be a significant get out fee or whether it’s worth jumping now and what to?


You need to ask them - Santander currently charge 5% of the outstanding balance on new 5 year fixed rate deals, but that doesn't mean that's what you've signed up for.
SirSpanky13/03/2020 23:46

You only need a £200k mortgage for this be better off than a 1.2% 2 year …You only need a £200k mortgage for this be better off than a 1.2% 2 year fix mortgage with no fee, so while I don't disagree people do their calculations, more often than not it's worth paying larger fees for better rates.

The average UK house price is £240k (probably massively inflated by London prices) making the average price likely a lot less for the rest of the country. To get the 0.75% rate with 75% ltv you would need a house value of £267k with £200k mortgage to make it worth while. To get the even lower rate with the 60% ltv you would need a house value of £334k with £200k mortgage. So putting it simply, more often than not it's worth taking the straight forward rate with no fees unless you are buying an expensive property.
jameswalker45714/03/2020 06:32

I'm fuming I've fixed mine at 1.89 a few months back.Personally I think …I'm fuming I've fixed mine at 1.89 a few months back.Personally I think they've been looking for a reason to drop. This could be a move with a new cabinet too. Looks like I'll be over paying the mortgage rather than saving now. Literally nowhere to keep your money at a good rate now.Can't see this changing any time soon.


Averaging in on a stocks and shares ISA after the recent ummet on the stock markets could be worth a punt. Might go down more short term hence the averaging in. Or the markets could fall off a cliff, who knows.
jaks10114/03/2020 09:21

Do we think we’ll see any movement in fixed rate products coming to the m …Do we think we’ll see any movement in fixed rate products coming to the market. No one seems to have changed their new mortgage fixed rates.Just to be clear I don’t mean if you’re already on a fixed rate mortgage I mean taking out a new one.


Yeah i'm wondering too, my current rate ends soon so need to get the ball rolling, at first i was holding out hoping for a cut, which finally came, but as of yet the fixed rate prices haven't moved.
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