Mortgage 1.49%+BOE =1.99% (Lifetime tracker max 60%LTV @ HSBC
619°Expired

Mortgage 1.49%+BOE =1.99% (Lifetime tracker max 60%LTV @ HSBC

160
Found 6th Nov 2013
If you could have LTV maximum 60% (e.g Re-mortgage or large sum of deposit) you could get a very good deal with HSBC.
For HSBC current account holder:

Lifetime Tracker Current Account Special HSBC Current Account Customers Only 1.49+BOE base rate = 1.99 (Currently), Equivalent to 2%APR
mortgages.hsbc.co.uk/pro…ial

This offer also applicable to non HSBC customer which slight ly higher e.g. 2.1% APR
mortgages.hsbc.co.uk/pro…ial.

At the moment this is the best rate I have seen for a new product come to the market.

please note - HSBC account holders booking fee is £99
NON HSBC account holders booking fee is £1999 !

- hotmik

This deal is still available here - mortgages.hsbc.co.uk/pro…ial
- kinnth

Also I double checked and you can apply to become and HSBC customer when you apply for the mortgage but you need £500 to go through the account each month for it to be valid.
- kinnth

160 Comments

I have a tracker mortgage with hsbc, can I just switch onto this? Are there any fee's?

60%

Honestly where do the banks think we have that kind of money saved up.

A 100000 house / flat (if you are lucky to find one in or around london.) with a 40000 Deposit.
Edited by: "garbage456" 6th Nov 2013

Wow, that's a good rate.
With the economy warming up though, I wouldn't like to bet against an increase in interest rates sooner rather than later.

Edited by: "BigAde" 6th Nov 2013

nseaman

I have a tracker mortgage with hsbc, can I just switch onto this? Are … I have a tracker mortgage with hsbc, can I just switch onto this? Are there any fee's?



You need to check the T's and C's of your current mortgage. It's unlikely you will be able to get out of it for nothing.

Original Poster

garbage456

60%Honestly where do the banks think we have that kind of money saved … 60%Honestly where do the banks think we have that kind of money saved up.A 100000 house / flat (if you are lucky to find one in or around london.) with a 40000 Deposit.



This one will be beneficial for those who could put large deposit.
Also for the one who want to remortgage ...
Edited by: "pantaiema" 6th Nov 2013

we are on 2+BOE lifetime tracker Nationwide and less than 100k left, easy below 60%. would it be worthy hassle remortgage to gain 0.4%?
can't see any info about this offer for non HSBC clients
Edited by: "sosen1327" 6th Nov 2013

Not bad but I'm not keen on the fixed repayments. I prefer more flexibility in the mortgage like ability to withdraw at any time.

Original Poster

sosen1327

we are on 2+BOE lifetime tracker Nationwide and less than 100k left, easy … we are on 2+BOE lifetime tracker Nationwide and less than 100k left, easy below 60%. would it be worthy hassle remortgage to gain 0.4%?can't see any info about this offer for non HSBC clients



mortgages.hsbc.co.uk/pro…lts

Scroll down and look at "life time tracker special"
Here I copy it for you
Maximum Loan to Valuation (LTV) 60%
Qualifying Criteria None
Interest rate 1.99%
Discount off the HSBC variable rate -
Tracks the Bank of England Base Rate Plus 1.49%
Reverting to the HSBC Variable Rate currently -
The overall cost for comparison is (APR) 2.1 % APR
Rate period Term of Loan
Booking fee £1,999 ( i think this is the difference. When you are HSBC customer you will only need to pay £99)
Maximum loan size available with this product £500,000
Porting Yes
Edited by: "pantaiema" 6th Nov 2013

Love our HSBC lifetime tracker. Got it in Nov 2008 at 0.69% above BOE and you can port it so we've since moved and kept the same rate.

highly recommended.

nseaman

I have a tracker mortgage with hsbc, can I just switch onto this? Are … I have a tracker mortgage with hsbc, can I just switch onto this? Are there any fee's?



Just got off the phone with HSBC, they did move my current tracker mortgage to this rate (Provided your house is 60% LTV based on current valuation). You need to pay £99 booking fee.

As an existing HSBC customer and a lot of equity in the house I'll give this some serious thought. Only a £99 fee is very good.
Guess they will have to be some legal fees to pay on top as with any change in mortgage co.

Thanks OP

For existing hsbc current account holders ONLY mind... So not available to everyone

jeevan

Just got off the phone with HSBC, they did move my current tracker … Just got off the phone with HSBC, they did move my current tracker mortgage to this rate (Provided your house is 60% LTV based on current valuation). You need to pay £99 booking fee.



I currently have a HSBC tracker mortgage so as long as the LTV is 60% is the only fee £99 to switch to this rate, with no other legal or valuation fees etc?

Good deal, almost worthwhile moving from my 2% +BOE variable rate. Shame I'm not an HSBC customer though, as the £1999 fee makes a heck of a difference to the £99 at these low interest rates.
Edited by: "jazid" 6th Nov 2013

Ski

I currently have a HSBC tracker mortgage so as long as the LTV is 60% is … I currently have a HSBC tracker mortgage so as long as the LTV is 60% is the only fee £99 to switch to this rate, with no other legal or valuation fees etc?



Give them a call, that should indeed be the case. As you are already mortgaged on the property with them its jsut the small fee and no need for valuations and such.

40% deposit will rule out most people from this deal - so not very hot unfortunately.

topgeezah

40% deposit will rule out most people from this deal - so not very hot … 40% deposit will rule out most people from this deal - so not very hot unfortunately.



I don't think it's aimed at the FTB market.

Ski

I currently have a HSBC tracker mortgage so as long as the LTV is 60% is … I currently have a HSBC tracker mortgage so as long as the LTV is 60% is the only fee £99 to switch to this rate, with no other legal or valuation fees etc?



Thats right, they have their own valuation system based on change of house prices in your region. No other fees apart from £99. Even this can be added to your mortgage or paid separately by cheque. Give HSBC mortgage CS a call.

Good for existing mortgage-holders, though with a £2k fee for non-HSBC customers, it starts to make it not so great (I'm thinking along the lines of you could open an HSBC current account and THEN apply for the mortgage deal if you wanted it though).

Also if the BoE base rate recovers it could be wildly expensive for some people.

It's hot and I've voted hot, but not without it's caveats.
Edited by: "brooklynbrawler" 6th Nov 2013

topgeezah

40% deposit will rule out most people from this deal - so not very hot … 40% deposit will rule out most people from this deal - so not very hot unfortunately.



Anyone who has had a mortgage for a good few years is likely to qualify for this. A great deal if you are willing to go through the hassle of switching HOT

.5% than I am paying on my mortgage, wonder if I opened up new account with HSBC if I could get this?

sosen1327

we are on 2+BOE lifetime tracker Nationwide and less than 100k left, easy … we are on 2+BOE lifetime tracker Nationwide and less than 100k left, easy below 60%. would it be worthy hassle remortgage to gain 0.4%?can't see any info about this offer for non HSBC clients


I've got one of those, the key with the nationwide one is it's portable.. so when i moved they took it off old property put it onto new one, extended the term and then added on extra borrowing on a standard fixed rate. Not sure if the HSBC can be moved if you move again.

I currently have a tracker mortgage 2.09% + BOE on remaining £39000, 14 years left.

Would this be worthwhile for me to switch? I am a HSBC customer. Not sure how to work out the maths! Any brainiacs?

garethsmith72

I've got one of those, the key with the nationwide one is it's portable.. … I've got one of those, the key with the nationwide one is it's portable.. so when i moved they took it off old property put it onto new one, extended the term and then added on extra borrowing on a standard fixed rate. Not sure if the HSBC can be moved if you move again.



The HSBC one is fully portable, I have recently moved and took my HSBC 0.69+BOE with me.

Good interest rate no doubt, but 40% deposit?

I will phone later. We have the HSBC 2%+BOE so 0.5% savings per month is good. It is a shame that there is a £99 fee for this but it is probably worth it for the savings for most customers on a higher deal, and thats what the greedy bankers are relying on.

garbage456

60%Honestly where do the banks think we have that kind of money saved … 60%Honestly where do the banks think we have that kind of money saved up.A 100000 house / flat (if you are lucky to find one in or around london.) with a 40000 Deposit.



this is actually a very good deal as lots of people who owned houses already will have this kind of LTV %. Mines not too far off that.

You should get on the ladder first and then worry about getting the absolute best deal. IMHO

Kate429

I currently have a tracker mortgage 2.09% + BOE on remaining £39000, 14 … I currently have a tracker mortgage 2.09% + BOE on remaining £39000, 14 years left. Would this be worthwhile for me to switch? I am a HSBC customer. Not sure how to work out the maths! Any brainiacs?



Will save you £19.50 per month in interest with the switch

Thank you Jeevan, I will be ringing the back tonight It is not an option online

Very pleased with saving, hot

I got a similar Lifetime tracker a couple of years ago. Having been fortunate enough to make a few overpayments and after taking the increase in the price of my property into account (they just calculated it on the phone from existing valuation with a regional multiplier) I just nudged the right side of the 60% LTV band. They said it didn't matter if the valuation dropped the following day as it only had to be true at the time of application.

Thanks currently on 1.69 over Base. Will call tonight as the saving will add up

Would the £99 be available to First Direct account holders?

leaving commment to find later

jeevan

Just got off the phone with HSBC, they did move my current tracker … Just got off the phone with HSBC, they did move my current tracker mortgage to this rate (Provided your house is 60% LTV based on current valuation). You need to pay £99 booking fee.



Thanks for doing the legwork. Did the same and it's reduced my payments. Hassle free.

Thanks OP for finding it. Heat added.

garbage456

60%Honestly where do the banks think we have that kind of money saved … 60%Honestly where do the banks think we have that kind of money saved up.A 100000 house / flat (if you are lucky to find one in or around london.) with a 40000 Deposit.



The banks think that we have that kind of money saved up in our current home. Not everyone is a risky first time buyer.

I'll be testing the strictness of the "current account holder" condition as the house is in both our names but only I have a HSBC current account and only she is named on the mortgage!

Dont forget, solicitor fees, survey, possible exit fees when remortgaging. So likely wont just be £99.

shazzc

I'll be testing the strictness of the "current account holder" condition … I'll be testing the strictness of the "current account holder" condition as the house is in both our names but only I have a HSBC current account and only she is named on the mortgage!



I am in a similar situation (but slightly better I am guessing) as the mortgage is in joint names but only my wife is a HSBC current account holder. Can anyone confirm that we will be able to get this deal for £99?

fergee

Would the £99 be available to First Direct account holders?


I was just checking on the First Direct site but no deals like this HSBC deal. Great if you can get it, as long as interest rates stay low.

Ski

I am in a similar situation (but slightly better I am guessing) as the … I am in a similar situation (but slightly better I am guessing) as the mortgage is in joint names but only my wife is a HSBC current account holder. Can anyone confirm that we will be able to get this deal for £99?



Mine is same case, I can confirm you will get the rate as long as one applicant is hsbc current Ac holder.
Post a comment
Avatar
@
    Text