How do I find the best HSBC UK Mortgage Rates? If you have been wondering what the Current HSBC Mortgage Rates are, reading this review till the end can provide you with the enlightenment you need. Meanwhile, it’s a great idea to always know whether you are on the right track, especially while shopping for mortgages. You certainly need to learn about each Mortgage Lenders’ Rates and then you can proceed to compare rates. One of the most reliable and well-known mortgage Lenders worldwide is HSBC UK. The bank offers a wide range of award-winning mortgages allowing you to select the one that fits your want or need.
However, HSBC UK also offers other financial services aside from Mortgages and they include; Wealth Management, Credit Cards, Lines of Credit, Bank Accounts, and much more. Currently, the financial institution has more than 54 million customers worldwide. Customers and intending customers globally can access HBC services and products online including their Mortgage Rates. You can easily track and monitor HSBC Mortgage Rates or apply for rates on the site. Or you can visit any of their branches around your location to get started. But first, it is imperative you get to understand their rates, you can check out the next outline.
HSBC Fixed Mortgage Rates
One of the types of Mortgages offered by HSBC is a fixed Mortgage and this is ideal for homeowners who want predictable interest as well as principal repayment. Shopping for a Fixed Mortgage rate means your principal and interest repayments on your mortgage will stay the same every month and will be paid based on the fixed schedule. Under the Fixed-rate mortgage, the most is HSBC 5 years fixed mortgage rate. Here is a table showing the fixed mortgage rate and cost of HSBC UK.
|HSBC Fixed Mortgage||Rates||Monthly Payment|
|1 Year Fixed||3.39%||$1,979|
|2 Year Fixed||3.64%||$2,033|
|3 Year Fixed||3.94%||$2,098|
|4 Year Fixed||4.39%||$2,198|
|5 Year Fixed||3.89%||$2,087|
|7 Year Fixed||3.89%||$2,087|
|10 Year Fixed||4,44%||$2,210|
HSBC UK Variable Mortgage Rates
Meanwhile, HSBC UK Variable Mortgage Rate is a type of mortgage with an interest that changes with the prime rate. Although, you mortgage payment will remain the same the portion of your payment that goes towards paying interest will change depending on the current variable interest rate offered. Once your interest rate decreases, HSBC Variable rate will help homeowners save on the total amount of mortgage interest payment. On the other hand, if the interest rate increases, you will have to pay more interest on your mortgage. But you can always convert our variable rate to a fixed rate during your current term whenever you are worried about your rate increasing. Here is a table showing HSBC Variable Mortgage Rate;
|HSBC Variable Term||Rates||Monthly Payment|
|2 Year Variable||1.24%||$1,551|
|5 Year Variable||2.44%||$1,782|
How to Apply for HSBC Mortgage
Applying for HSBC Mortgage is similar to many mortgage lenders but there are steps and guidelines you will need to follow in order to get started. It is worthy to note that, you must be 18 years of age and above and must be a resident of the UK to get started. Below are the steps and guidelines you will need to follow;
- Firstly, get a decision in principle. You will need to provide the company details about your current situation such as income and deposit. This will allow them to issue an agreement in principle enabling them to know if you are a good borrower.
- Search for a property. After you have gotten your decision in principle, you will need to find the right property based on your budget.
- Now, apply for HSBC Mortgage. Select your property and start your application online.
- Lastly, you can decide to with a solicitor to help you complete your mortgage. This will include your financial situation properly checked and completing the transaction on the home you want to buy.
HSBC Mortgage Customer Support Team
To make the process easier and stress-free, you can make use of HSBC Mortgage Customer Service for help with your Mortgage Rate and more. Existing customers can call their phone number. You can call between 8 am to 8 pm Monday to Friday and 9 am to 6 pm on Sundays and Saturdays. Note that, during Christmas, Boxing Day, or New Year’s Day, you won’t be able to reach their customer service team for help. Alternatively, you can download and install their Mobile App to chat with any of their online representatives.