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Mortgages Discussions on choosing a mortgages and mortgage options available.

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Old 11-16-2008, 08:49 AM
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Question Collars!
I have a HSBC mortgage, taken out well before the housing crisis...
I am at present 0.89% above BoE base rate, so 3.89%, its a life time tracker.
I have just got off the phone with HSBC, and asking if I have a collar on my mortgage ( a minimum % the mortgage will go down to regardless of the BoE base rate ) I was told 'no' you dont, but the guy warned that HSBC were reviewing the active tracker mortgages and might action a collar on them!
Now is that possible? I always believed that mortgages were sealed from both ends when signed!!!
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Old 11-19-2008, 12:17 PM
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I think it depends on your terms and conditions - anything in your contract that says HSBC can change this?
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