HSBC Mortgage Review

Watch this item
HSBC Mortgage
0.7 stars
Average rating for this product is: 0.7 out of 5

From 3 ratings and 30 reviews

Thumb down 10% of users recommend this product

Rate it Now:

Click on the stars above to rate this product:

Tweet This Item


HSBCHater's Review of HSBC Mortgage

14th Oct 2006

Overall Rating

0 stars
  • Value for money
    0 stars
  • Repayment Method
    Repayment
  • Product
    Variable rate
Good Points

Absolutely none


Bad Points

Customer Service
Management service


General Comments

Our mortgage was bought out by HSBC, and there has been nothing but problems since. We cannot even get an itemized copy of our monthly payment transaction. It took me filing a complaint with the FTC to get this 8 months later. The additional money paid to principle is sitting in an unapplied funds account, and no one will answer as to why. We get the silent treatment on this one...they have applied funds late, then charged late fees, then reported it to the credit bureau. We are now taking legal action.

Remember - all reviews on Review Centre express the reviewer's opinion, not necessarily ours.
If you disagree with a review then please let us know by writing a review of your own or adding a comment.

Tweet This Review

On average, people found this review very helpful

How helpful did you find this review?


Members' Comments onHSBCHater's Review

  • paulg001 on 26th Jul 2008

    I agree with this review because...I also have a mortgage that was bought by HSBC. When I make an extra payment on the principal the amount goes into "Unapplied Funds" instead of paying down the principal. I also have a mortgage that was bought by HSBC. When I make an extra payment on the principal the amount goes into "Unapplied Funds" instead of paying down the principal. Does every mortgage company do this?

  • Kayemjohns Rank: Lance Corporal on 10th Oct 2008

    I found this review helpful because...it is exactly what is happening to us! I am very interested in finding out more information on the advice of the attorney. The firm we spoke to said we need to find additional people that have had this situation where the money is not applied to the principle. I've found so many issues with HSBC it's hard to stay focused on one!

NameProduct TypeDiscount LengthSubsequent RateOverall Cost  
WoolwichStep Lifetime Tracker1 year(Base+ 2.49%) currently 2.99%3.00% APR
AbbeyTracker2 year4.24%4.10% APR
WoolwichOffset TrackerTerm(Base+ 2.47%) currently 2.97%3.10% APR