If you’re looking to re-mortgage your home but don’t like the idea of paying loads of your hard earned money in fees, check out the ‘Zero Fee Tracker Mortgage’ from HSBC
This mortgage has zero booking fees, zero completion fees and zero standard valuation fees. If that’s not clear, they are saying that you can re-mortgage your house for zero fees when you switch today. The other part of the HSBC advert is the ‘tracker’ part of the mortgage. When you re-mortgage with this offer you’ll be put on the HSBC low-rate lifetime tracker mortgage which tracks the Bank of England base rate plus 2.89pct. At the moment (23rd October 2012) the Bank of England base rate is 0.5pct so the current tracker rate of 3.39pct making the overall cost for comparison with other mortgages 3.4pct APR.
While the HSBC offer is ‘zero fee’ you may have to pay fees to other parties involved in remortgaging your home, such as solicitor fees and fees charged by your current mortgage provider if you are ending a fixed rate mortgage offer earlier than allowed in their terms and conditions.
This review of the HSBC Zero Fee Tracker Mortgage should not be considered as financial advice. If you need help, consult your local independent financial adviser.