Mortgage interest rate reduction :)
Discussion
Have just reduced my mortgage interest rate from. 3.29% to 1.99% (base +1.49%) lifetime tracker unlimited overpayments.
Have been stuck on my current deal for some time its recently lapsed and then they upped the rate...
Happy days - I'm sure plenty have got much lower deals from pre crash and are riding that ongoing back then best we had was 5.29%
.
Have been stuck on my current deal for some time its recently lapsed and then they upped the rate...
Happy days - I'm sure plenty have got much lower deals from pre crash and are riding that ongoing back then best we had was 5.29%
. KTF said:
HSBC maybe?
https://www.hsbc.co.uk/1/2/mortgages/products?pcod...
https://www.hsbc.co.uk/1/2/mortgages/products?pcod...
Yep those are the ones. https://www.hsbc.co.uk/1/2/mortgages/products?pcod...
https://www.hsbc.co.uk/1/2/mortgages/products?pcod...
VBRJ said:
Congrats!
I've been on 1.35% for a couple of years now after being screwed at nearly 6% during our fixed term.
Feels good to get one over on the banks for a change
It sure does more £ in our pocket really happy its locked in for life and is portable IF a cheaper rate comes along in the future then will happily change again. I've been on 1.35% for a couple of years now after being screwed at nearly 6% during our fixed term.
Feels good to get one over on the banks for a change
Welshbeef said:
Have just reduced my mortgage interest rate from. 3.29% to 1.99% (base +1.49%) lifetime tracker unlimited overpayments.
Have been stuck on my current deal for some time its recently lapsed and then they upped the rate...
Happy days - I'm sure plenty have got much lower deals from pre crash and are riding that ongoing back then best we had was 5.29%
.
Well that's a result Have been stuck on my current deal for some time its recently lapsed and then they upped the rate...
Happy days - I'm sure plenty have got much lower deals from pre crash and are riding that ongoing back then best we had was 5.29%
. Have a drink on me welshy
That's if you are not lying.....
squeezebm said:
Well that's a result
Have a drink on me welshy
That's if you are not lying.....
I'm still dry ish this year only 6 drinks all year so far.... But I'm pleased about the savings - so is the wife. I'm now going to cancel the sports and movies so another £40odd PCM saving for some which frankly I rarely use = spend more of the )£ on the family/forthcoming extension Have a drink on me welshy
That's if you are not lying.....
Whilst it's a great rate, HSBC are hedging their bets that when rate rises return, people will jump ship and fix the rate on another product, paying another £499 in the process. When you can fix the rate at just over 0.3% more for three years elsewhere, even one increment in the base rate in that time wipes out the saving.
I suppose it comes down to whether you think there will be at least a 0.25% base rate increase in the next three years or not?
Good luck!
I suppose it comes down to whether you think there will be at least a 0.25% base rate increase in the next three years or not?
Good luck!
Sarnie said:
Whilst it's a great rate, HSBC are hedging their bets that when rate rises return, people will jump ship and fix the rate on another product, paying another £499 in the process. When you can fix the rate at just over 0.3% more for three years elsewhere, even one increment in the base rate in that time wipes out the saving.
I suppose it comes down to whether you think there will be at least a 0.25% base rate increase in the next three years or not?
Good luck!
Crystal ball time that's for sure. I suppose it comes down to whether you think there will be at least a 0.25% base rate increase in the next three years or not?
Good luck!
Sideways Rich said:
Great rate WelshBeef, where you with HSBC already? I wonder if HSBC will offer this rate to British ex-pats???
If you are with HSBC and registered for the online banking you can see your current mortgage product details and switch to any of their current offerings instantly.The two I linked to above require you to have an HSBC current account and have a booking fee.
They also do a 2.29% fees free tracker with no booking fee if you have a 70% LTV which is available to anyone.
KTF said:
Sideways Rich said:
Great rate WelshBeef, where you with HSBC already? I wonder if HSBC will offer this rate to British ex-pats???
If you are with HSBC and registered for the online banking you can see your current mortgage product details and switch to any of their current offerings instantly.The two I linked to above require you to have an HSBC current account and have a booking fee.
They also do a 2.29% fees free tracker with no booking fee if you have a 70% LTV which is available to anyone.
I'm also on the base +1.49% lifetime tracker, having started at Base + 2.49% so rather happy with that.....
We've just purchased a new house and required an extra mortgage from HSBC.
I very nearly went for the tracker (1.49% above base) but in the end it was the 3.19% fixed for 5 yrs that won. I'm already on a 0.94% above base tracker so I felt I had the best of both worlds with this one (split almost 50/50).
I'll either be kicking myself for not taking the risk or have a grin for fixing.
Who knows but in the end I think we chose what was right for us at this present time.
I very nearly went for the tracker (1.49% above base) but in the end it was the 3.19% fixed for 5 yrs that won. I'm already on a 0.94% above base tracker so I felt I had the best of both worlds with this one (split almost 50/50).
I'll either be kicking myself for not taking the risk or have a grin for fixing.
Who knows but in the end I think we chose what was right for us at this present time.
Edited by morrisk1 on Thursday 13th March 12:02
illmonkey said:
I'm on .98% above BoE for life. Very happy with it, until I spoke with them about the possibility of moving house and I was told that they won't allow me to port it to a new property. I've not looked at my T&C's, but if true, I'm going to paying out a lot more when I move.
Intelligent Finance? I've heard of them doing this recently...Sarnie said:
illmonkey said:
I'm on .98% above BoE for life. Very happy with it, until I spoke with them about the possibility of moving house and I was told that they won't allow me to port it to a new property. I've not looked at my T&C's, but if true, I'm going to paying out a lot more when I move.
Intelligent Finance? I've heard of them doing this recently...uuf361 said:
You can but they won't let you move to the best rates on line, as I've found out - any that were 60% LTV would not appear on my list of options to switch (even though LTV is sub 55%), but were fine when I called them - changed my rate 4 times during the first year of my mortgage with them - all fee free
I'm also on the base +1.49% lifetime tracker, having started at Base + 2.49% so rather happy with that.....
I don't live in the UK, so was wondering if they offer the same rates to ex pats? I'm also on the base +1.49% lifetime tracker, having started at Base + 2.49% so rather happy with that.....
Sideways Rich said:
uuf361 said:
You can but they won't let you move to the best rates on line, as I've found out - any that were 60% LTV would not appear on my list of options to switch (even though LTV is sub 55%), but were fine when I called them - changed my rate 4 times during the first year of my mortgage with them - all fee free
I'm also on the base +1.49% lifetime tracker, having started at Base + 2.49% so rather happy with that.....
I don't live in the UK, so was wondering if they offer the same rates to ex pats? I'm also on the base +1.49% lifetime tracker, having started at Base + 2.49% so rather happy with that.....
Gassing Station | Finance | Top of Page | What's New | My Stuff