Has Any News on HSBC mortgages

betmunch

Hi,

I am looking at getting an HSBC mortgage to buy a property but want to move very quickly.

The Advisor told me the offer would take 4-6weeks from application, which I feel is quite a long time.

Has anyone recently applied for a mortgage with HSBC and how long did it take to get the offer after the application?

Cheers

crabbman2004_2

Depending on your circumstances you can a decision in Branch the same day as you apply. However you will need to ensure you prepare and take all documents required to enable them to do a full application i.e payslips, bank statements etc. If you get referred to underwriters they will take 24-48 hours to approve (or decline) your application.

Once approved you should get your offer documents within 5 working days.

The 4-6 weeks you mentioned is how long it could potentially take for the purchase to complete. Again this can be done quicker say 3-4 weeks dependant on you, your solicitor and any chains involved etc.

Hope this helps

TEDDYRUKSPIN

Yep. Over the phone will take 4-6 weeks to carry out.
By branch.

2 appointments required to finish off application. This will take roughly 1 and half hours each. Make sure you bring everything they need. Depending on your history, affordability etc, it can be signed off from as little as 1 hour to as long as 5 days if further approval required. After this, documents get sent out which takes 2 days. Survey goes out and for files to comeback, now roughly 3-4 days. You return documents and everything then is in your solicitor hands.

Solicitors / conveyancers can be really slow. So add 1 week - 4 weeks. Only you can decide and the seller too. So the average completion is actually 6 weeks to 3 months.

I have managed to complete a house purchase in 1 week though.