Current Mortgages Offers

[Uncle Spielberg]

Although to be fair I've had bad experiences with a number of other lenders. I'm sure you can find someone to provide a bad review for any lender out there.

HSBC are generally considered appalling. Their rates are great but try getting one ! An average mark of 1.2 out of 5 from nearly 100 people does not tell a good story.

 

[wakeytom]

HSBC are generally considered appalling. Their rates are great but try getting one ! An average mark of 1.2 out of 5 from nearly 100 people does not tell a good story.

But surely you earlier saying an SVR is linked to Base Rate is also incorrect?

 

[saafend_seagull]

Good luck with that then !

HSBC Mortgage Review | Gross incompetence inneficiency - Avoid HSBC mortgages!!

Haha - this would be the same for any high street bank!!!

 

[saafend_seagull]

I like the Woolwich 3.99% fixed until 31/5/15, £ 499 arrangement fee added to the mortgage, free survey and free legals to 80% lv.

good luck with that!

Woolwich Mortgages Reviews | Mortgage Lenders | Review Centre

 

[Alex Alex Dawson oo! oo!]

I have just got a 'mortgage certificate' with HSBC for 3.94X my salary yesterday. I have never missed a payment but also never had a credit card though.

Also - 80% LTV - tracker rate payable is 3.29%
Overall cost for comparison is 3.4% APR
About £800 booking fee, completion and valuation fees (only £500 can be added to mortgage)

90% LTV - tracker rate payable is 4.79%, cost of comparison 4.9% APR.

(First time, sole buyer, capital repayment)

How long is this mortgage for? and what is the SVR?

Good luck with that then !

HSBC Mortgage Review | Gross incompetence inneficiency - Avoid HSBC mortgages!!

HSBC's svr is currently 3.94% but this looks like a tracker linked to the BoE base rate (ie +2.79%), we've had a similar product for the past 18 months or so, albeit with less differential.

As for the complaints/comments about HSBC, our experience was a follows:
1) Did what they said in the tin, I think our remortage took something like 10 weeks from application to completion. We used their Guildford office.
2) They are very picky about who'll they'll lend to, if you don't fit their profile then forget it.
3) We've never previously had to submit anything like the financial information requested by HSBC. This is our sixth mortgage and we had to produce something like 30 pieces of info - Bank statements, P60's, company accounts, company accountant declaration, VAT Reg'n Certificate (ffs!), credit card statements, share certificates, share option certificates, endowment policies, insurance policies, investment statements etc, etc, etc
4) Their solicitors were fine - very helpful.
5) The valuers were fine but I wouldn't use them for anything - very superficial and over-valued the house.
6) Finally, they had the best rate around at the time.

I think US has previously referred to them as "cherry pickers".

 

[chimneys]

HSBC are generally considered appalling. Their rates are great but try getting one ! An average mark of 1.2 out of 5 from nearly 100 people does not tell a good story.

Dont suppose your view on HSBC is at all swayed by the fact they dont deal with/pay IFA's US?!

First Direct have very similar mortgage offers to their HSBC parent, and have the best customer care rating in the sector.

For the record, I have an HSBC Bank of England base rate lifetime tracker mortgage (overuled the advice of my "former" IFA who suggested a 2 year fixed rate with Nationwide in March 09) and have been very happy with them/it!

 

[SK1NT]

Mailed back US... any similar offers for 5 years fixed under 4%... With a decent APR....

Or any decent lifetime trackers?

Can you not just update this thread everytime a new mortgage comes in

Do all mortgage advisors such as urself all work off the same computer system then?

 

[Uncle Spielberg]

4.47% fixed for 5 years. The searching for the product knowing the lenders criteria is one part of the job, the hard work starts when the rate is decided on and the application process starts. HSBC do not accept direct business but that is not why I have slagged them off, the op is free to go with them and post on here what he finds out.

 

[nail-Z]

Dont suppose your view on HSBC is at all swayed by the fact they dont deal with/pay IFA's US?!

First Direct have very similar mortgage offers to their HSBC parent, and have the best customer care rating in the sector.

For the record, I have an HSBC Bank of England base rate lifetime tracker mortgage (overuled the advice of my "former" IFA who suggested a 2 year fixed rate with Nationwide in March 09) and have been very happy with them/it!

Another very happy First Direct customer here.

I reckon my mortgage is costing THEM money at the moment.

 

[SK1NT]

FFS why isnt there a 5 year fixed under 4%... at 4.5% hardly worth me paying a fee to leave my SVR... sigh...

 

[Uncle Spielberg]

If you can get 3.99% fixed for 3 years with a low arrangement fee of £ 495 and free survey and free legals and you are paying 4.95% on a variable rate now which is more likely to go up than down in the next 3 years it seems a no brainer to me but I will leave it to you mate. 4.47% fixed for 5 years is not a high rate, historically it is very low.

 

[Westdene Seagull]

What I find slightly wrong is the way lenders link many of their products the the BOE Base rate but now, as other posters have pointed out, now want to disassociate themselves from it as it's too low.

 

[Uncle Spielberg]

What I find slightly wrong is the way lenders link many of their products the the BOE Base rate but now, as other posters have pointed out, now want to disassociate themselves from it as it's too low.

Not a single lender has done this to my knowledge.

 

[Uncle Spielberg]

The margin is a lot higher typically 2.5% above at least but the rates already in place cannot be changed. I have clients still paying 0.99% on lifetime trackers.

 

[SK1NT]

What I find slightly wrong is the way lenders link many of their products the the BOE Base rate but now, as other posters have pointed out, now want to disassociate themselves from it as it's too low.

I 100% agree with this. I know US you said some of your customers are still paying .99% (very lucky gits) above the base rate however they aren't offering anything near this... it's now more like 3.5% above the base rate...

The banks dont mind offering decent pecentage trackers when the base rates are high but as soon as they come down the banks mortgage rates increase.... So not matter what the base rate is.. it's always around 5% (providing the base rate doesnt increase above this)

 

[Uncle Spielberg]

I 100% agree with this. I know US you said some of your customers are still paying .99% (very lucky gits) above the base rate however they aren't offering anything near this... it's now more like 3.5% above the base rate...

The banks dont mind offering decent pecentage trackers when the base rates are high but as soon as they come down the banks mortgage rates increase.... So not matter what the base rate is.. it's always around 5% (providing the base rate doesnt increase above this)

They are in business to make money, not to do you or anyone else a favour mate. That's the way it works.

 

[SK1NT]

They are in business to make money, not to do you or anyone else a favour mate. That's the way it works.

Exactly... wankers

However if they offered much better rates... people would spend more and the economy would be boosted... the only downside is banks wouldnt make as much profit...

 

[Uncle Spielberg]

Uncle Spielberg and anybody else in the know, my mortgage is currently with Accord. Out of interest, what is their reputation like? I'm not too fussed about 'customer care' as I'm never going to miss a payment, but I'm just intrigued to know how well(badly!) they are looked upon by the experts.

Decent enough but picky fuckers and not too eager to lend. Good rates though.