Tracks against the Bank of England base rate
A tracker mortgage is a type of variable rate mortgage. They follow the Bank of England base rate during a specified period, so your repayments can vary - go up or down.
- The interest rate you pay on tracker mortgages is variable and is an agreed percentage above the Bank of England's base rate. As the base rate rises and falls, your interest rate will track these changes, and this will affect your monthly payments accordingly
- HSBC Tracker mortgages are term trackers, this means that they track the Bank of England base rate for a fixed period (e.g. 2 years), after which they will revert to the HSBC standard variable rate or the HSBC Buy to let standard variable rate unless a new rate is arranged.
Key information about our tracker mortgages
Interest type: Variable.
Is interest calculated daily? Yes the interest chargeable on the outstanding mortgage balance is calculated every day rather than at the end of each week, month or year.
Can I make overpayments without incurring Early Repayment Charges (ERC)? Yes, make unlimited overpayments and pay your mortgage off early without an ERC.
Is there an exit fee? No, you don’t have to pay an exit fee when you fully repay your mortgage.
Can I 'port' my loan if I move home? Yes. This is the term used to describe transferring your current HSBC mortgage rate from one property to another when moving home (known as porting). This is subject to our standard lending criteria and terms and conditions.
How to apply
Applying for a mortgage involves two stages, firstly getting a Decision in Principle; secondly making a mortgage application.
Already started an application?
If you started a mortgage application over the phone, in branch or online, you can login to complete it or track its progress.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
† Lines open Monday to Friday 8am - 9pm, Saturday 8am - 8pm, Sunday 9am - 6pm. Calls may be monitored and recorded. Opening hours within the mortgage departments may vary.