Alex of London: let's do the math correctly. If you increase your loan by 3.08%, because you've incorporated a fee into it, your effective interest rate increases from 4.94% to 5.24%. This fee is a scam to be able to present a lower headline rate, but it's not as extortionate as you claim.

Sam, Chicago, USA

my advise is to sell up for whatever price you can get and protect your equity (if you have any), house prices are going down at least 40%. Its not only HSBC, all banks are going to raise rates one way or another. Independent help will not help, buy gold, silver and mining stocks.

Steve, Edgware, UK

Let's do the math. On a £250k loan, there's a £7699 fee. That increases your loan (and every single repayment in future) by 3.08%.

A 4.94% rate fixed for 2 years suddenly becomes 8.02% fixed for 2 years, with a permanent 3.08% premium even if you move your mortgage. You've already paid. Criminal.

Alex, London,

The classic case of a low interest rate as a headline grabbing exercise to give with one hand,

then taking your soul with the other.

HSBC, Hilariously Shocking Bank Charges.

Tim, Bristol, UK

The mortgage market is a scam. It has been for the last 10 years. The banks pumped up the market with cheap money and will now take your equity off you. Dump the banksters fake money scam. Rent, rent, rent, get off debt, and use cash for everything, or lose all your "assets".

john smith, manchester, UK

Based on my experience with the bank, its dissimulation etc. I agree completely with "andy, surrat, thailand"

Michael Robinson, Virgina , USA

Hold on....Which part of 2 year fixed rate mortgage on very low rates did people not understand? A mortgage is for 25 years not months. People just did not do the maths and forgot that house prices and rates are prone to adjustments, up as well as down. Give me low prices and high rates any day!!!!

D Louis, Coventry, UK

I remortgaged last year when buying a new house. I was offered a lifetime tracker at two rates. The arrangement fee on the lower rate would only have been beneficial if I'd been borrowing in excess of £100k. I borrowed at the higher rate, with the much smaller fee.

David Leslie, Perth, Scoyland

HSBC are just relying on Joe Public to be gullible enough to fall for the low rate. But they are not alone, all lenders are now doing this in their mad scramble for profit. I urge everyone to get independent mortgage advice.

Graham, Bradford, England

on having dealings with this bank myself over a number of years which for legal reasons i cannot go into i am not suprised at this .........my advice take your custom else where

andy, surrat, thailand