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HSBC: Tracker Rate Mortgage reviews

Name: Tracker Rate Mortgage
Rating: 3.21 (14 reviews)

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3.13

Based on 14 reviews, last reviewed 19th Mar 2023

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

14%

36%

29%

2 star

21%

Latest highest rating:

4

great rates no worries have had a mortafge with HSBC for 15 years and have always enjoyed a really low interest rate. They have great deals however, I may need to shop aroun... Read more Reviewed on: 30th December 2018

Latest lowest rating:

1

Very poor customer service Difficult to locate help/support from anyone at HSBC (either in branch or on the phone) in this era of rising living costs and increasing rates; branc... Read more Reviewed on: 19th March 2023

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About this product

HSBC is a financial services provider offering a range of services, including a variety of mortgage products. A tracker mortgage will usually follow the current interest rate closely, often charging you a rate that’s slightly higher. Before taking out any mortgage, make sure you’re confident with the Ts and Cs and interest rate. Always speak with the lender or an independent advisor if you need help understanding your options.

Our HSBC tracker rate mortgage reviews can give you valuable insight into the lender and product. Make an informed decision when choosing your mortgage by reading the reviews on Smart Money People.

Find out why borrowers chose HSBC’s tracker rate mortgage and how satisfied they’ve been so far. Learn the main pros and cons of the mortgage product. Find out how supportive HSBC has been from start to finish. Read about genuine experiences with the customer service team to learn how swiftly HSBC solves its customers’ problems. All of this and more can be found in our HSBC tracker rate mortgage reviews.

If HSBC helped you buy your dream home with a tracker rate mortgage, why not leave a review on Smart Money People. Tell us why you chose this mortgage product and the main pros and cons you’ve experienced. Share how smoothly the application process went and how supportive HSBC was throughout. Would you recommend the product to your family and friends? Whether good or bad, write an honest HSBC tracker rate mortgage review today. Together, we can help people like you make better financial decisions.

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HSBC Tracker Rate Mortgage reviews (14)

More tolerant than I would have expected after my redundancy

I've always found HSBC mortgages to be reasonably understanding in relation to my redundancy and subsequently setting up my own business, which of course, has initially meant a dramatic drop in income meaning payments can no longer be automated and are now made (online via my main Santander bank account) online when the cash is available. Customer support has become less and less 'personal' and worthy over the past few years - I feel as time goes on I end up speaking to people that are reading from scripts rather than actually listening - but this is a common trend across the board these days anyway. One major gripe - when HSBC agreed to allow me reduced payments over a tough period, I was under the impression that the excess unpaid was to be tacked onto the end of the term; turns out this was not so and I am now paying more each month to make up this shortfall - which will take a year - quite logically and clearly in my position, I would not have agreed and extended this reduced payment period if I had known. Customer Services said this was not their policy, so would not have been offered anyway. I could happily counter that with poof that they had indeed done this for me about ten years previous in a similar financial position. So to sum up: 8/10 for tolerance and flexibility, 4/10 for the actual customer services. Reviewed on: 18th August 2015

best thing we ever did.

We took out a mortgage with HSBC when we purchased our house 12 years ago. We took out a 25 year tracker mortgage with a fixed track of BOE base rate plus 1%. With interest rates at historically low levels, we have been able to overpay each month thereby shortening the term of our mortgage. Reviewed on: 20th April 2015

Very happy with rate and overall service

I enquired with HSBC as I have banked with them for a very long while. The rate turned out to be great and the service has been friendly and fantastic - recommended Reviewed on: 27th October 2014

Good rate and fairly easy application. Just takes time,

I originally bought my house with the assistance of HSBC giving me a mortgage. the adviser at my local branch was very helpful. I went with a tracker with the intention on fixing it when i thought rates will rise (I need to look into this at some point soon.) I have also taken a Homeowner Loan with HSBC and placed this on a fee free tracker. I did this over the phone and found no issues, although it did take an hour and a half. Going back to the point of fixing the mortgage rate, I think that its great that I can change to a fixed rate over the phone, I can keep the mortgage term the same and fix the rate by phoning up and getting new offer documents sent with the new rate the and only have to pay a booking fee. My only negative is the amount of time it takes the underwriters to make a final decision on an application. It took them 2 weeks which is fair, but given how I bank with them and they can see everything I thought the decision could have been made a bit quicker. The great thing about the tracker that I have is flexibility. No early repayment charges and any over payments come of the capital which in turn reduces the interest. This wont suit everyone but at the moment it certainly suits me Reviewed on: 6th October 2014

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