Mortgage story.. HSBC (bless them)

[vkurup]

I have a mortgage with HSBC. Since rates are still down, I walked into a branch and asked if they could move me to a lower rate. She faffed about a bit, since we are about 73% LTV and dont qualify for the 70% slabs. She made a few calls and 20 mins later no result. Then she gave me the contact no of their 'Retention unit'. Called them and they ran an online valuation of the house. Gladly it went up!!, but did not make the 70%.
Then he said 'I am feeling generous today' (yeah right).. and offered me a 70% 2 yr fixed rate. All that I need to pay is an arrangement fee and the mortgage has dropped another 0.5%. Not much, but that is another 100 quid in the pocket.
It is a buyer's market so I guess worth giving all your lenders a call. If anyone is with HSBC, then DM me and I can share the contact details of the retention unit. Much better guys than the in-branch folks.

 

[PhilTheFragger]

I've got a lifetime tracker with Cheltenham & Gloucester at .24% over base, so currently paying 0.74%
I'm not going anywhere :thup:

 

[HomerJSimpson]

In the process of selling my mums house. Hoping that once it goes through and we then sell this house we can buy a nice 4 bedroom outright. As the economy improves in a few years the value will increase. Even if rates go up I'll have no mortgage. Even if things stay as they are we'll be going from a 2 bed mid-terrace to 4 bed detatched and no mortgage puts at least £500 in my pocket (or to save)

 

[User20205]

I've got a post office mortgage, through Bank Of Ireland. I phoned then up last week as I will need to remortgage in the new year. I'd seen a decent rate on their website

'sorry sir those rates are for new customers only' !! the offered me a rate 1% worse than the rate I'd seen on a 65% LTV

sounds like they could do with a retention team !!!

I'm off to Yorkshire Bank who have some decent deals at present !

 

[MegaSteve]

Recently paid mine off... Quite a nice feeling sitting in a house all bought and paid for... Well worth all the pain in the early days finding the money to make the payments...

 

[vkurup]

I've got a lifetime tracker with Cheltenham & Gloucester at .24% over base, so currently paying 0.74%
I'm not going anywhere :thup:

Damn you.. had a look at the C&G site.. no dollies there.. everything is more than what HSBC gives me. The best thing about HSBC is the total cost to move to the new deal only takes into account fees of about 300 quid.

In the process of selling my mums house. Hoping that once it goes through and we then sell this house we can buy a nice 4 bedroom outright.

Good luck

Recently paid mine off... Quite a nice feeling sitting in a house all bought and paid for... Well worth all the pain in the early days finding the money to make the payments...

Some day.. i hope I will post something similar.. only 23 yrs to go.

 

[One Planer]

Not worth faffing about with our mortgage.




It's only £183/Month :whoo:

 

[JustOne]

I've got a lifetime tracker with Cheltenham & Gloucester at .24% over base, so currently paying 0.74%
I'm not going anywhere :thup:

Awesome!

Our 2yr fixed rate runs out in Feb and I can't wait to get somewhere within 2% of the base rate for once. I'm sure we're up at something like 4.5% at the moment. Flippin' banks - thieves the lot of 'em!

 

[Ethan]

I've got a lifetime tracker with Cheltenham & Gloucester at .24% over base, so currently paying 0.74%
I'm not going anywhere :thup:

I have similar (0.19% above base, in fact) with Woolwich/Barclays. Not going anywhere either!

 

[vkurup]

I have similar (0.19% above base, in fact) with Woolwich/Barclays. Not going anywhere either!

How does one get such low rates.. I am assuming all of you are below the 60% LTV... no such luck for those in the 70s

 

[AMcC]

I have similar (0.19% above base, in fact) with Woolwich/Barclays. Not going anywhere either!

We also have one with Woolwich / Barclays. 0.27 over base for the lifetime of the mortgage. I have heard that Woolwich are trying to offer packages to people on similar rates to get them off it, a sweetner to go elsewhere. They apparently borrowed the money at 2.5% expecting much higher interest rates and it hasn't happened.
Our current account is with the Nationwide and they keep asking me if I would consider moving my mortgage to them, I ask if they can beat base plus 0.27 with a huge grin. The answer is always the same lol.
I remember just before taking out this deal that Woolwich were offering base less 0.11%. that was some deal.

 

[vkurup]

A friend is currently on 2.39% with woolwich with 50% Ltv. He can't find a better deal which does not have a lockin period. Woolwich is not offering anything better either. Any thoughts of where he can get to below 2 on a tracker?

 

[JustOne]

My letter from Nationwide....

As you may be aware, your current mortgage expires on 28th Feb 2013, on this date your mortgage with revert to our Base rate mortgage (BMR) as stated in your mortgage offer.... our BMR is currently just 2.5% and is guaranteed to be no more than 2% above the Bank of England base rate



Does that sound unbeatable?

 

[Scottjd1]

Most people who have long term low deals, typically lifetime trackers at rates around sub 1% over base would have been arranged prior to the market crashing and they more than likely started witht hem when base was around 5ish, so they are ones lenders have to honour although as you would have read they are keen to get you off.

These days anything for a pay rate between 2 and 2.5% is pretty good, not sure why you wouldnt want tie ins?

James your mortgage is on the 'old' Nationwide BMR, I doubt you will get anything much better - its a cracking deal, and no fees to pay.

 

[JustOne]

James your mortgage is on the 'old' Nationwide BMR, I doubt you will get anything much better - its a cracking deal, and no fees to pay.

Thanks Scott, I was looking around and couldn't seem to find all these supposed deals that everyone has and was worried that we'd end up paying over the odds. The missus was talking about getting it fixed again for a while but doesn't it make sense to just keep an eyeout at the base rate........................ and then get stung in a couple of years time

 

[Scottjd1]

Thanks Scott, I was looking around and couldn't seem to find all these supposed deals that everyone has and was worried that we'd end up paying over the odds. The missus was talking about getting it fixed again for a while but doesn't it make sense to just keep an eyeout at the base rate........................ and then get stung in a couple of years time

Ill PM you my number and if oyu want ot looked at we can.

 

[vkurup]

In our case we would like to get below 2.5, but the best HSBC could do was 2.79% on a 72% LTV. The other important bit was the lack of fees. Since no valuation is involved, the total fees to move to the new product was £299. I think the fees is the important factor that everyone overlooks.

My friend is looking for no tie-ins cuz he thinks he will sell his house off as he they are planning to migrate out to sunnier climes.