Any one in the know about mortgages?. Just starting to look around as my current mortgage tie in runs out in Dec.

 

Just seen HSBC have a discount of 1.95% off their standard rate of 3.94% meaning 1.99% for two years. I guess if their standard rate goes up during the two years, I will always get 1.95% lower?.

 

Or do I still look at trackers? some seem to be around 2.49% above the base rate.

 

Anyone know of any good deals, advice?. Ideally I would like to get my payments as low as possible for two years.

 

Thanks

 

Barry

Hi Barry

 

Up until last month I was a Mortgage Adviser (5 years) have now left due to market conditions

 

Base rate will probably start to go up from mid 2010 so a tracker would increase from then.

 

SVR with HSBC is a risk as this is based on LAUTRO. it's anyones guess where this will go.

 

Fixed rates have been on the increase as long term swap rates have been increasing. However my choice would be a long term fixed rate, we are in for a period of uncertainty, and fixing it (even 2% above what a tracker rate would be ) is a wise move. 5 years minimum would be my choice.

 

Disclaimer......This is not advice it my own personal opinion

Thanks Tango450, the HSBC looked good, as I could cut my payments right down for a year or so (dependant on the svr) so I could free up some money.

 

Thanks

 

Barry

Lautro nothing to do with mortgage rates?! - assume he means LIBOR- the rate at which banks lend to eachother!