FTB... Scared of the whole mortgage process

betty14_2

Hi,

me and my boyfriend have found our first property and have 66% of the value in a deposit and have applied for a mortgage with HSBC for 34% of the property. We've just applied and I've read a few horror stories on the net, they're very slow, customer service is rubbish, they sit on the paperwork and it takes ages for someone to even look at it etc etc...

Has anyone had experience in dealing with them as ideally we'd like to wrap this all up in 8 weeks?! I'm dead anxious the owners of the house will get bored waiting as they want to move quickly.

Anyone had any experience with HSBC? How do you rate them?

_Andy_

Have you applied in a branch or over the telephone?

malkie76

We're with HSBC, and had absolutely no issues with the original set up, and the subsequent renegotiation at the end of our last deal.

You'll find horror stories on the net for all lenders - people tend to rant on the net when things go wrong, but not when things go well.

As a FTB with a 66% deposit you are like gold-dust to a seller, so don't be stressed that they'll walk away (and I hope you got a good price in your situation!)

The bigger hold-up will probably be the legal paperwork, rather than the mortgage. Just stay transparent with the sellers and update them when you have more info!

mahoney

We're still hunting for the right house and have had the first mortgage interview at hsbc. To get a second interview has proven impossible, they'll only do 9-4 weekdays and they get booked up quickly (at my branch anyway). I hate HSBC customer services - how everything is done from a call centre god knows where. I did read somewhere that antoher bank was very slow, so I ask myself if they're all pretty much the same.

SelbyJay_2

I wouldnt worry too much about one lender being any worse than an other. Probs can always arise which can cause delays. You are in a very strong financial position so most lenders should be happy to have your business.

I wouldnt pin your hopes on moving in 8 weeks tho - they tell you these time scales but even when i was a FTB it took nearer 15 weeks before i could move in.

Spangled

Always found HSBC to be very good. Remortgaged to them in Novemember last year and am currently porting my lifetime tracker to a new property. Had one minor mis-communication issue but otherwise can't fault them. Did it all over the phone.

ddebski_us

I've just applied for a HSBC FTB mortgage.

I called them up, got a KFI through the post the next day, called again and went through the application form over the phone, that arrived for us to check and sign the next day.

I returned the forms etc on Friday, they received on Monday and have been told it'll be 6 working days before it's processed and they instruct the survey. So far, so good - will keep you updated.

xDx