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  • FIRST POST
    • Rosy Apple
    • By Rosy Apple 13th Mar 17, 5:53 PM
    • 110Posts
    • 19Thanks
    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 2
    • Rosy Apple
    • By Rosy Apple 20th Mar 17, 1:45 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    It must be frustrating for you... At least they are quick in asking what they miss!
    Originally posted by sn1987a
    It would just be helpful if they didn't keep asking for the same thing! I have definitely got the FTB nerves
    • Sheep
    • By Sheep 20th Mar 17, 4:39 PM
    • 165 Posts
    • 37 Thanks
    Sheep
    Just reading this made me go and check my online application with HSBC and its gone from 'decision obtained' to 'manually referred'. Doesnt look good for me. They called me today and said my wife needs to go online and accept that she is happy to go through the mortgage application. Right pain.
    • Rosy Apple
    • By Rosy Apple 20th Mar 17, 4:51 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Just reading this made me go and check my online application with HSBC and its gone from 'decision obtained' to 'manually referred'. Doesnt look good for me. They called me today and said my wife needs to go online and accept that she is happy to go through the mortgage application. Right pain.
    Originally posted by Sheep
    Eek- although I am glad my post prompted you to check. Was your wife originally on your mortgage application?
    • Sheep
    • By Sheep 20th Mar 17, 10:16 PM
    • 165 Posts
    • 37 Thanks
    Sheep
    Yeah she was on from start but because they dont send you anything to sign they send you an online banking password and you have to sign on and select a number of options. I suppose going with a broker means you wont need to do this. Rang them a few house ago and they want more statements from another account i use as my spending account.
    • strawberries1
    • By strawberries1 20th Mar 17, 11:30 PM
    • 551 Posts
    • 118 Thanks
    strawberries1
    Yeah she was on from start but because they dont send you anything to sign they send you an online banking password and you have to sign on and select a number of options. I suppose going with a broker means you wont need to do this. Rang them a few house ago and they want more statements from another account i use as my spending account.
    Originally posted by Sheep
    Are you using funds in your spending account for the mortgage? How did they know of the existence of it?
    I have a hsbc spending account too but as I did a lot of spending since mid Dec I'll rather not have to present that to them. I'm not using it to fund my deposit, it's my play money.

    I might go with another lender to avoid this as it's not a true reflection of my spending habit.
    • Sheep
    • By Sheep 21st Mar 17, 6:30 AM
    • 165 Posts
    • 37 Thanks
    Sheep
    They saw once i got paid into my 'bill' account i then transferred £650 into another account and asked what this other account was. I had no choice but to say it was my spending account. They then asked for 3 months statements. No direct debits come oit of this account.
    • strawberries1
    • By strawberries1 21st Mar 17, 1:42 PM
    • 551 Posts
    • 118 Thanks
    strawberries1
    They saw once i got paid into my 'bill' account i then transferred £650 into another account and asked what this other account was. I had no choice but to say it was my spending account. They then asked for 3 months statements. No direct debits come oit of this account.
    Originally posted by Sheep
    How much was the difference in amount loan when compared to their DIP?
    • Rosy Apple
    • By Rosy Apple 22nd Mar 17, 7:03 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Update- HSBC have now approved our mortgage subject to valuation

    Timings as followed:
    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
    17th March - HSBC asked to be resent certain bank statements
    19th March - HSBC ask for the same statements again!
    22 March - Mortgage approved subject to valuation and we pay mortgage booking fee. We are told that the valuation company will call us to take payment and then will arrange the valuation. The order seems to have got a little muddled as the EA emailed this afternoon to say that the valuation company rang them and booked the valuation in for Friday. As yet, we haven't heard from the valuation company and haven't paid the fee!

    Will keep you updated.
    • sn1987a
    • By sn1987a 22nd Mar 17, 7:06 PM
    • 367 Posts
    • 411 Thanks
    sn1987a
    Good luck! I don't know if this is relevant to you but HSBC has some new lower mortgage rates. I just switched mortgage rate today after we received our offer!
    • Rosy Apple
    • By Rosy Apple 22nd Mar 17, 7:23 PM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Good luck! I don't know if this is relevant to you but HSBC has some new lower mortgage rates. I just switched mortgage rate today after we received our offer!
    Originally posted by sn1987a
    Thank you- I think as FTB with a high LTV our rate is still the best they have available.

    Glad you managed to switch though!
    • Sheep
    • By Sheep 22nd Mar 17, 7:42 PM
    • 165 Posts
    • 37 Thanks
    Sheep
    Do you know which valuation company they are using? Is it countrywide?

    Our application is with underwriters now. The hardest thing about the whole application i found was when they ask for your outgoings they litterally want to know how much you spend on t bags and hair gel etc etc. I know other providers have their own calculation for that and therefore dont drill down as deep

    We put what we thought was accurate. Time will tell.
    • Rosy Apple
    • By Rosy Apple 23rd Mar 17, 10:22 AM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Do you know which valuation company they are using? Is it countrywide?

    Our application is with underwriters now. The hardest thing about the whole application i found was when they ask for your outgoings they litterally want to know how much you spend on t bags and hair gel etc etc. I know other providers have their own calculation for that and therefore dont drill down as deep

    We put what we thought was accurate. Time will tell.
    Originally posted by Sheep
    I don't actually know- HSBC told me that the valuation company would call me in the next two working days to arrange payment and then would arrange the valuation. Rather bizarrely, I haven't heard from them but the EA has let me know that they have arranged it for tomorrow already! Once I get the call then I will let you know who it is.

    We didn't actually have to fill in any paperwork like that that went to HSBC, not sure if it is because we went through a broker? Went through some costings with the Broker but he said these weren't going to go to the bank and were just to check he was happy with affordability.
    • Rosy Apple
    • By Rosy Apple 23rd Mar 17, 11:45 AM
    • 110 Posts
    • 19 Thanks
    Rosy Apple
    Do you know which valuation company they are using? Is it countrywide?

    Our application is with underwriters now. The hardest thing about the whole application i found was when they ask for your outgoings they litterally want to know how much you spend on t bags and hair gel etc etc. I know other providers have their own calculation for that and therefore dont drill down as deep

    We put what we thought was accurate. Time will tell.
    Originally posted by Sheep
    The valuation company have just rung to take payment- it is SDL.
    • Sheep
    • By Sheep 23rd Mar 17, 7:24 PM
    • 165 Posts
    • 37 Thanks
    Sheep
    Thanks for the info Rosy Apple. I thought HSBC only used Countrywide but what do I know
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