Soldato
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My lender got round that. There was a fee for very low balances.
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
My lender got round that. There was a fee for very low balances.
Correct in my case. My lender has also never been round my flat to date to assess valuation upon renewal every 2/3 years. They just increase the value each time. It's a load off my mind, accepting i may not be on the best rate.
I've just taken up that offer, to start May 2024, through HSBC's online switch tool
What I couldn't see is any wording suggesting it's ok to change the deal if the rates drop until then. Would this need cancellation and rebooking of deal need doing via telephone?
Edit - have emailed HSBC to ask.
Edit 2 - they told me should be doable online, but can call them if I struggle.
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If you stick with the same lender then 9 times out of 10 they will just use an AVM (automated valuation model) to make a decision on lending.
It’s when you want to remortgage because works have been done to the property (extensions etc) that they may want a re inspection.
Of course, if you change lender, then they will often send a surveyor over.
Soldato
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So if you were looking to switch would you just put in the AVM value and then hope the surveyor agrees with it.
Having to look for a new home as next door has gotten so loud. Been fine since I moved in February but about 2 weeks ago there was lots of banging one day and saw them breaking a TV unit outside.
Since then whenever there TV is on I can physically hear what they are watching quite clearly and base coming through the wall is ridiculous (2017 built house with a living room parting wall so sound isolation isn't particularly good).
I'm not one for confrontation so I've left it but it just got to a boiling point today after a ****** work day and coming home to that.. Turns out they mounted a sound bar to the parting wall making all the vibration go right through. Smart idea, very smart.
Been looking for somewhere to move but unsure if Id need to take a new mortgage with a new rate.
Since then whenever there TV is on I can physically hear what they are watching quite clearly and base coming through the wall is ridiculous (2017 built house with a living room parting wall so sound isolation isn't particularly good).
I'm not one for confrontation so I've left it but it just got to a boiling point today after a ****** work day and coming home to that.. Turns out they mounted a sound bar to the parting wall making all the vibration go right through. Smart idea, very smart.
Been looking for somewhere to move but unsure if Id need to take a new mortgage with a new rate.
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My sympathies. Truly. I know how hard that can be. Have you tried to even politely point out the issue? I know it's hard to confront them in fear of escalation but do try if that's the only thing.
I'm really sensitive to noise and struggle sometimes with ours as their kitchen backs onto our lounge and they bang about and don't have soft close anything. Difficult to know whether to say something. If you defo want to move, it's sadly not worth the risk of raising an official noise complaint as it has to legally be declared when you move.
Yes I've mentioned it to them when I got home from work as the sound was ridiculous. Could hear it in the upstairs bathroom. He mentioned he will turn the sound bar off but that's only a temp solution can't expect the guy to not use his "sound" system.
The main issue is that it's mounted to the wall itself so it's vibrating through the wall. Not smart to mount stuff to a parting wall where we are literally about 3 meters away from each other. Not really sure what was going though there heads thinking it would be okay. My sofa was actually on the parting wall originally as I couldn't hear anything from their tv. Had to flip my living room around to get away from the noise.
Hoping he takes the hint and puts the soundbar on the TV unit underneath (they mounted the TV to the wall also)
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Same for us.
Desk based. It was down valued. But still in same LTV band so I didn't care.
Detached ftw! Personally i could never go back to having neighbours a wall away for that reason. It's a tough spot for you both but providing it's within reasonable hours(8pm-11pm movie time) I don't think he's doing much wrong tbh. Part and parcel of having neighbours isn't it.
Factor in stamp duty fees and moving costs and you've got a healthy budget for some serious sound proofing solutions. Be worth exploring that avenue first because even if you move same issue might come back around.
I've seen some soundproofing vids on youtube, where they reckon people can watch a movie on other side of the wall and can't hear a thing.
Might be worth looking into depending on how much space you have you could spare. 4 to 6 inches loosing ?
If I was PM I'd make it mandatory to have sound-proofing built into joining walls.
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Deleted User 298457
Deleted User 298457
Grass isn't always greener my man. There is a guy in Home & Garden who has a detached and has an even worse problem because the slab the houses were built on/side path or whatever is transmitting vibrations through the ground.
My 1930s semi - I can hear my neighbors radio when it is on; and I feel for them as I have the radio on 24x7 when I work from home (and the TV/soundbar is wall mounted).
Have you had a conversation with them?
It'd certainly be cheaper to soundproof than moving but obviously you know that!
That must be exceptionally rare though. To have a detached house with issues.
I could never go back to attached. After renting next to someone with an eating disorder and a dad who swore at his partner and kid, and wondering if you'd ever hear "violence". Never again.
Also. I like my speakers loud. And it's not fair for me to subject someone else to that either.
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Same. I'd rather have a smaller detached than a bigger better semi/terraced.
I grew up in a terraced, and 99.999% of the time you couldn't hear a thing. Old houses though with massive stone walls.
The whole point of an AVM is that it is automated - it wouldn’t even reach a surveyor matey
Soldato
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Sorry didn't explain right this is if I were to move provider - if you do a comparison it asks for a valuation to get a quote, Would it be the AVM that would be best to use?
Found hsbc's latest mortgage rates table online.
I'm trying to decide whether to remortgage and release ~25k of equity which would let us undertake a much needed kitchen extension (supplemented by savings), which would take us up to 4.89%, or chuck a bit of extra money at the mortgate and hit the 75% LTV band and lock in 4.64%. Both bands look like 5 year fixes are the ones to go for for our circumstances, baking in some expected drop to BoE baserate.
I do have my mortgage advisor at 1 today, just trying to get my thoughts together. First time home owners, it seems not a great financial decision but it would give the house some significant quality of life upgrades and let us stay here a bit longer.
I'm trying to decide whether to remortgage and release ~25k of equity which would let us undertake a much needed kitchen extension (supplemented by savings), which would take us up to 4.89%, or chuck a bit of extra money at the mortgate and hit the 75% LTV band and lock in 4.64%. Both bands look like 5 year fixes are the ones to go for for our circumstances, baking in some expected drop to BoE baserate.
I do have my mortgage advisor at 1 today, just trying to get my thoughts together. First time home owners, it seems not a great financial decision but it would give the house some significant quality of life upgrades and let us stay here a bit longer.
Soldato
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I would potentially lock in the lower rate instead, and then start re-saving towards that kitchen expansion. 0.25% will pay itself back each month you're not paying extra.
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