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    • Rosy Apple
    • By Rosy Apple 13th Mar 17, 5:53 PM
    • 110Posts
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    Rosy Apple
    HSBC Mortgage Application Timings?
    • #1
    • 13th Mar 17, 5:53 PM
    HSBC Mortgage Application Timings? 13th Mar 17 at 5:53 PM
    Hi all,

    Has anyone else applied for a mortgage via HSBC, would you mind sharing your timeline with me?

    I am trying my best not to be a nervy FTB- but it isn't going very well!

    Many thanks,
    RA
Page 1
    • sn1987a
    • By sn1987a 13th Mar 17, 7:31 PM
    • 367 Posts
    • 411 Thanks
    sn1987a
    • #2
    • 13th Mar 17, 7:31 PM
    • #2
    • 13th Mar 17, 7:31 PM
    I have just applied also, this is my timeline so far:
    4/3 brought statements and payslips to hsbc
    9/3 they received them and asked for a page missing
    13/3 application sent to underwritters

    I called HSBC today and I was told that I will have an answer by the end of this week/beginning of next. Did you try to call hsbc? At what stage are you?
    • Rosy Apple
    • By Rosy Apple 13th Mar 17, 8:26 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    • #3
    • 13th Mar 17, 8:26 PM
    • #3
    • 13th Mar 17, 8:26 PM
    Thank you for replying.

    We submitted our application via a broker on Friday, he said we passed the initial credit checks (I assume this would be the DIP) and that he submitted all our paperwork straight after. He expected o hear more in the next 48-72 hours, I wasn't sure if this included weekends.

    I am truly being a nervy FTB, it's a fairly high LTV (90%) which is adding to the tension!

    Good luck, I will keep my fingers crossed for you.

    Thanks again.
    RA
    • sn1987a
    • By sn1987a 13th Mar 17, 10:59 PM
    • 367 Posts
    • 411 Thanks
    sn1987a
    • #4
    • 13th Mar 17, 10:59 PM
    • #4
    • 13th Mar 17, 10:59 PM
    The HSBC DIP is a soft credit check and I think that a proper one is done when you submit a full application. Anyway, it seems we are at same point. I hope you get some great news soon!
    • dgtazzman
    • By dgtazzman 14th Mar 17, 2:42 AM
    • 1,121 Posts
    • 667 Thanks
    dgtazzman
    • #5
    • 14th Mar 17, 2:42 AM
    • #5
    • 14th Mar 17, 2:42 AM
    Think it was 12 days from online application to formal offer for me last year with HSBC, that included a bank holiday weekend...
    • Rosy Apple
    • By Rosy Apple 14th Mar 17, 10:53 AM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    • #6
    • 14th Mar 17, 10:53 AM
    • #6
    • 14th Mar 17, 10:53 AM
    Think it was 12 days from online application to formal offer for me last year with HSBC, that included a bank holiday weekend...
    Originally posted by dgtazzman
    Thank you- that is quicker that I expected. We really need to get our valuation booked as the EA are forcing us into a bit of a race to do this. We are trying to ignore this and just move forward as we need to but we can't help but feel some pressure!
    • Rosy Apple
    • By Rosy Apple 14th Mar 17, 12:52 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    • #7
    • 14th Mar 17, 12:52 PM
    • #7
    • 14th Mar 17, 12:52 PM
    As an update- my broker has just let me know that the Underwriters queried some entries on our bank statements yesterday. He replied immediately and we are hoping to hear back soon.

    Keeping my fingers crossed!
    • sn1987a
    • By sn1987a 14th Mar 17, 1:21 PM
    • 367 Posts
    • 411 Thanks
    sn1987a
    • #8
    • 14th Mar 17, 1:21 PM
    • #8
    • 14th Mar 17, 1:21 PM
    Don't book the valuation before you get the mortgage offer! This is at least what HSBC told us, otherwise you may loose the money.
    • Sheep
    • By Sheep 14th Mar 17, 1:42 PM
    • 165 Posts
    • 37 Thanks
    Sheep
    • #9
    • 14th Mar 17, 1:42 PM
    • #9
    • 14th Mar 17, 1:42 PM
    If you dont mind me asking what entries was it on your statement? Loan payments etc or was it every day spending that they were questioning? Im thinking of applying in next week or so
    • Rosy Apple
    • By Rosy Apple 14th Mar 17, 1:48 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Don't book the valuation before you get the mortgage offer! This is at least what HSBC told us, otherwise you may loose the money.
    Originally posted by sn1987a
    Thank you- I wouldn't even know how to Just super keen for things to speed up.
    • Rosy Apple
    • By Rosy Apple 14th Mar 17, 1:56 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    If you dont mind me asking what entries was it on your statement? Loan payments etc or was it every day spending that they were questioning? Im thinking of applying in next week or so
    Originally posted by Sheep
    My broker dealt with the questions without speaking to us but I understand that it was because we moved large amounts of money around in one day. It had to come from my husband's company account, to our current account to our savings account. So a bit convoluted.

    Hope this helps.
    • Rosy Apple
    • By Rosy Apple 14th Mar 17, 2:27 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    I went from application to full offer / acceptance within 2 weeks, no complaints at all from my experience- good luck.
    Originally posted by AFF8879
    Thank you
    • sn1987a
    • By sn1987a 14th Mar 17, 3:35 PM
    • 367 Posts
    • 411 Thanks
    sn1987a
    I just received the offer!!! That was quick! HSBC texted me! They told me to book the valuation now!
    • Rosy Apple
    • By Rosy Apple 14th Mar 17, 3:49 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    I just received the offer!!! That was quick! HSBC texted me! They told me to book the valuation now!
    Originally posted by sn1987a
    HUGE congratulations!! That is great new, I shall keep my fingers crossed that your valuation is speedy and issue free.
    • sn1987a
    • By sn1987a 14th Mar 17, 3:50 PM
    • 367 Posts
    • 411 Thanks
    sn1987a
    Thank you!! I hope you get the good news soon!
    • Rosy Apple
    • By Rosy Apple 16th Mar 17, 10:02 AM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    As an update:

    10th March - DIP given and full application submitted through broker
    13th March - questions to broker around bank statements
    15th March - email stating that it is now with underwriters and we will have an answer within two working days

    Keep your fingers crossed for us!
    • Rosy Apple
    • By Rosy Apple 16th Mar 17, 12:11 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Further update:

    HSBC have come back and asked for bank statements which show our bills going out, the broker has gone back to them to confirm that they already have this and they were attached to our original application. This now means that the answer could take two working days again. So fingers crossed, Monday at the latest!

    The broker has told us that it is not uncommon for HSBC to be a bit slow with documents and re-ask for things they already have! They know how to make me worry!
    • Sheep
    • By Sheep 16th Mar 17, 1:54 PM
    • 165 Posts
    • 37 Thanks
    Sheep
    Im sure it will be fine and im sure you will have your offer shortly
    • Rosy Apple
    • By Rosy Apple 20th Mar 17, 12:54 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Latest update- HSBC have come back again (2 working days later) to say that they still can't see the bank statements that they queried on Thursday. These have already been sent twice by the Broker (once originally and then again when they asked on Thursday), he has now sent them for the third time! Can't help but feel that their systems may need looking at!
    • sn1987a
    • By sn1987a 20th Mar 17, 1:32 PM
    • 367 Posts
    • 411 Thanks
    sn1987a
    It must be frustrating for you... At least they are quick in asking what they miss!
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