Mortgage 1.79%+BOE = 2.29% (Lifetime tracker max 70% LTV, NO BOOKING FEE) @ HSBC
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Mortgage 1.79%+BOE = 2.29% (Lifetime tracker max 70% LTV, NO BOOKING FEE) @ HSBC

142
Found 18th Feb 2014
Cheapest I have seen the HSBC Lifetime Tracker in the last 18 months (any LTV) with no booking fee and no requirement to hold a HSBC current account.

* Porting allowed from other Lifetime Trackers (assuming within 70% LTV)
* Unlimited over-payments are allowed without charge
* No exit fee

I've ported to this. I hope this helps others too.

142 Comments

It's an ok deal if HSBC deem you profitable enough to have you as a customer. Other lenders will give you similar rates on a 2 year fix (e.g. Nationwide albeit with a £99 fee)

Great price for a tracker.

This looks really good2.3%.. until when is this deal ON? my current 2y mortgage ends in 6 months....

Until very recently, I thought this was 1.49+BOE base?

Original Poster

GibsonSt19

Until very recently, I thought this was 1.49+BOE base?



£99 booking fee, 60%LTV and and to be an HSBC customer for that deal.

I nearly went for that one but couldn't be bothered to transfer my current account (plan to be mortgage free in 12-24 months)

Original Poster

arma_gera

This looks really good2.3%.. until when is this deal ON? my current 2y … This looks really good2.3%.. until when is this deal ON? my current 2y mortgage ends in 6 months....



They change every couple of months or so. For the last 18 months the trackers have been getting cheaper. I got my original mortgage Nov'12 which was 2.99% (2.49%+BOE).

Rates will rise eventually, isn't it better to get the fixed term mortgage (4yrs or so) as rates are pretty low these days and will give you peace of mind.

GibsonSt19

Until very recently, I thought this was 1.49+BOE base?



That's the deal I got, was very pleased!

This is a great deal for Contractors who are working their plums off right now and paying huge chunks of mortgage off whilst the interest rate is 0.5%.

Just done some quick sums actually, say outstanding = 80k, currently paying BOE+2.44% = ~2350/year interest, switching to this could save me another 500 clams a year. oO Cheers OP!

Edited by: "Roger_Irrelevant" 18th Feb 2014

I'm overpaying lots too, should knock 13 years off

Banned

aimtiaz

Rates will rise eventually, isn't it better to get the fixed term … Rates will rise eventually, isn't it better to get the fixed term mortgage (4yrs or so) as rates are pretty low these days and will give you peace of mind.



Dont think will be out of this recession in 4 years, no one knows of course its a gamble but i dont think itll be getting much better in the near future

Banned

2yr fixed upto 90% with £160 cb
hotukdeals.com/dea…191
Edited by: "4cx250f" 18th Feb 2014

My mortgage has gone back to the standard rate, as i couldnt get another one, they said my income is not enough because i cannot use the money i receive from my lodger as income.
I'm hoping rates stay low, but as it is I'm only paying £285 a month anyway.
Someone told me they changed down from a 25 year repayment and are paying roughly the same a month. anyone else had experience of this ? I'd rather pay back over a shorter time if there's not much price difference...

anyway, heat added !

Dunno but I think mortgage companies prefer 25 years as it means they can milk you for a quarter of a century, which is a collossal amount of interest for them. E.g. when I kept overpaying they adjust your monthly amount, but not the term (they're not allowed to).

aimtiaz

Rates will rise eventually, isn't it better to get the fixed term … Rates will rise eventually, isn't it better to get the fixed term mortgage (4yrs or so) as rates are pretty low these days and will give you peace of mind.



That's what mortgage advisors were saying 4 years ago.

I would be looking to fix personally but different strokes for different folks. We definitely aren't going to see any rate rises for 12 months but after that who knows. Doubt it will just be .25% either.

Roger_Irrelevant

Dunno but I think mortgage companies prefer 25 years as it means they can … Dunno but I think mortgage companies prefer 25 years as it means they can milk you for a quarter of a century, which is a collossal amount of interest for them. E.g. when I kept overpaying they adjust your monthly amount, but not the term (they're not allowed to).



I think some will change the term if you ask.

I moved to this last week even though I don't really have 70% LTV HSBC system seems to think I do. Unless their system conciders my house value has increased maybe? If you are with HSBC already it takes a few minutes to switch mortgage. I have re-mortgaged online with HSBC 11 times over the last 3 years falling slowly from 5.2 to my current 2.3% as better offers came out and I increased my LTV.

I have to remortgage in about 6 months time. My current deal with the nationwide is .75+BOE. I know I won't get this deal again so looking for something good.

ciaozammer

It's an ok deal if HSBC deem you profitable enough to have you as a … It's an ok deal if HSBC deem you profitable enough to have you as a customer. Other lenders will give you similar rates on a 2 year fix (e.g. Nationwide albeit with a £99 fee)



Having got a nationwide mortgage, I wouldnt trust them with a bargepole.

Messed up the valuation, the change of title (TWICE! plus they charged £250 for doing nothing) and should you require a Consent-To-Let (rare, I know) they are one of the most expensive out there - charging you an admin fee as well as an additional 1.5% APR.

aimtiaz

Rates will rise eventually, isn't it better to get the fixed term … Rates will rise eventually, isn't it better to get the fixed term mortgage (4yrs or so) as rates are pretty low these days and will give you peace of mind.



5 years is 3.49 though its a lot more, this rate is so low I am not so bothered if rates go up. Besides the savings allow me to overpay more so I am chipping away at the debt lowering my interest all the time.
Edited by: "jamesdew" 18th Feb 2014

Great deal, I got similar deal last year with HSBC and reduced the term by 3 years at the same time. Cost me nothing to switch and I got away from the Cheshire's massive tie in fee's. Good riddance Cheshire/Nationwide.

The LTV was calculated by asking me how much I thought my house was worth. Given my purchase price vs mortgage remaining gave me 73% LTV so I told them the house was worth more now than when I bought due to improvements. They instantly bumped the house value up to put me in the 70% LTV bracket and said no survey is required. It's well worth manipulating the house price to your advantage, HSBC make a lot of money from you whichever LTV rate you are given.

Best thing about these deals is there is no tie in or exit fee. HSBC confirmed if I see a better deal next week (with HSBC or other bank) I can apply and leave current product. Looking back mortgages are ridiculously cheap at the moment.

PressureDrop

My mortgage has gone back to the standard rate, as i couldnt get another … My mortgage has gone back to the standard rate, as i couldnt get another one, they said my income is not enough because i cannot use the money i receive from my lodger as income.I'm hoping rates stay low, but as it is I'm only paying £285 a month anyway.Someone told me they changed down from a 25 year repayment and are paying roughly the same a month. anyone else had experience of this ? I'd rather pay back over a shorter time if there's not much price difference...anyway, heat added !



25 years is simply the standard they apply. Its rare they would offer longer than this without a lot of questions and paperwork, but you can easily ask for a shorter time period, infact they will often ask for it if you are approaching retirement age. When I changed fixed rates a while ago I asked to shorten the term of my mortgage so that I was ending up paying approximately the same per month (the new rate was much better). overall it will save me a lot in interest that they would have charged and I will own my house outright a bit sooner.
However if you currently have a fixed rate with an early repayment charge, they will not "amend" your term. It would be classed as re-mortgaging so you'd get charged the early repayment charge.

If you are considering changing mortgage and want to know how much you will pay if you reduce the term and stuff, this calculator might help, it doesnt have to be an HSBC mortgage as you type the rate, ammount and term in yourself.

mortgages.hsbc.co.uk/rep…tor

ive reverted to SVR with my provider as we are looking to move (need a larger place, mines on the market, at the minute I am below the 70% LTV, when I move I wont be, worth changing in the meantime?

Original Poster

GibsonSt19

Until very recently, I thought this was 1.49+BOE base?

aimtiaz

Rates will rise eventually, isn't it better to get the fixed term … Rates will rise eventually, isn't it better to get the fixed term mortgage (4yrs or so) as rates are pretty low these days and will give you peace of mind.




Depends what your circumstances are. If you are blasting your mortgage with over payments and intend to pay it off / vast majority in the next 24-36 months then this should be of interest. If you're in for the long haul then yes, I'd might think about fixing. I guess there is always the option of going for a deal like this (no exit fee), listen to the forward guidance and hope to nab a fixed rate if there was a suggestion of a rate rise in the near future. Others may understandably prefer to pay for piece of mind now.
Edited by: "YolkiePolkie" 18th Feb 2014

aimtiaz

Rates will rise eventually, isn't it better to get the fixed term … Rates will rise eventually, isn't it better to get the fixed term mortgage (4yrs or so) as rates are pretty low these days and will give you peace of mind.



Don't think rates will be rising for another 12 months at least so worth jumping on this one and when the rates rise which should only be by 0.5 or at most 1% then you could still get a good fix.
As mentioned you can pay as much overpayments off on this also.

I swapped over to this last week. Great deal!!

PressureDrop

My mortgage has gone back to the standard rate, as i couldnt get another … My mortgage has gone back to the standard rate, as i couldnt get another one, they said my income is not enough because i cannot use the money i receive from my lodger as income.I'm hoping rates stay low, but as it is I'm only paying £285 a month anyway.Someone told me they changed down from a 25 year repayment and are paying roughly the same a month. anyone else had experience of this ? I'd rather pay back over a shorter time if there's not much price difference...anyway, heat added !



You need to assess your current LTV rate and see what deals are on offer against that?
Also if you can afford overpayments as you currently stand then this is a great way to get your mortgage down.

sniperpenguin

Having got a nationwide mortgage, I wouldnt trust them with a … Having got a nationwide mortgage, I wouldnt trust them with a bargepole.Messed up the valuation, the change of title (TWICE! plus they charged £250 for doing nothing) and should you require a Consent-To-Let (rare, I know) they are one of the most expensive out there - charging you an admin fee as well as an additional 1.5% APR.



......or you could just not tell them

Blood money.

This is a good deal.......but please excuse me while I gush....because this :
Brings back great memories this deal, back about 4.5 years, just after the economy turned into a big bag of steaming squidgy poo, I can remember the base rate falling bungee style off a fiscal-cliff, and mortgage lending banksters were scrambling their big fat greedy @rses to try and pull each and every tracker deal that they could......because they would practically in effect be paying us for once...to borrow their money....can't have that now can we ???
So in the space of literally a couple of weeks the deals were disappearing like chocolates in a fat birds handbag, until one fateful friday, the last tracker available on the market (& it was being pulled that day!) was HSBC's ridiculous 1.00% +BoE base rate Life Time Tracker. I found out about it a few days before...and that Friday was running across the Strand on my lunch break to get my forms faxed off in the branch to ensure that I secured the deal. That was like scoring a winner in extra time, that was......anyway.....gush over....apologies

Woohoo! Changed mine online from 2.99% tracker to 1.99% tracker (1.49 + 0.5 BoE) plus £299 "booking fee". Took 5 mins to change and got acceptance letter straight away in my inbox. New rate is in effect from today. £130 cheaper per month. Still gonna overpay though...

Strange though my current LTV is 79%

Thanks OP!

Edited by: "vensoft2000" 18th Feb 2014

I got a 5 year fix with Nationwide 3.09% with £100 cash back on 70% LTV as I don't want the risk of rate rises.
Saying that, for anyone who wants a tracker - this is a decent deal

seems a great deal

whys everyone posting what their own rates are? It like "my rates better than yours" stuff kids play in the playground

So I'm on an ING lifetime tracker with no exit fees @ 2.3%+BOE = 2.8%
I can shift to this tracker for no cost at all and save myself 0.5% with no booking costs etc (My LTV is about 61%) ??

I see for HSBC customers there's a 1.49%+BOE = 1.99% with only a £299 booking fee called "HSBC Lifetime BBR+1.49% Advance"
Wonder if its worth shifting my current account over.


Edited by: "Winterwolf" 18th Feb 2014

This deal will only be available to 'perfect customers' HSBC cherry pick so even if you meet the full criteria do necessarily not expect to get it -

socrates28

This deal will only be available to 'perfect customers' HSBC cherry pick … This deal will only be available to 'perfect customers' HSBC cherry pick so even if you meet the full criteria do necessarily not expect to get it -



It's true they are picky, they were not willing to lend me much but luckily it was enough.

Slightly different query..How would I find the best lifetime tracker that is also an offset?

My current deal is an offset with a 0.85+BBoE lifetime tracker - but I have to change/lose it if I want to move house. Any advice?

Failing that, is it better to have a really good rate, or have 50-ish% offset, and a slightly higher rate?

solid

Slightly different query..How would I find the best lifetime tracker that … Slightly different query..How would I find the best lifetime tracker that is also an offset?My current deal is an offset with a 0.85+BBoE lifetime tracker - but I have to change/lose it if I want to move house. Any advice?Failing that, is it better to have a really good rate, or have 50-ish% offset, and a slightly higher rate?



I've looked a lot, all the offset deals seem to be terrible. Either crappy rate or stupidly high booking fees. If anyone can find one that I have not been able to please let me know.
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