Are HSBC really slow?

bungrefurb

I have had a very recent experience of applying for a HSBC re-mortgage and its taken just 3 weeks to be offered the mortgage just pending the valuation. we are currently in a fixed deal with santander thats ending march 2011. Not had any problems to date.

caz_sheff

New to this forum today and just looking through threads. We have banked with HSBC since it changed from Midland (in the dark ages!). We have our morgage with them and have found it really easy to get advice and change to good deals when fied rates etc have run out. No complaints to date.

Conrad

Why people want to do a mortgage with a massive call centre global Bank is beyond me. It's anything but local (thier adverts claim to be the worlds local Bank, yet when I want to speak to my local branch as I abk there, I get put through to Wales or India, not too mention the irratating keypad options).

dkmax_2

tonyfu wrote: »

Has anybody had any recent experience of applying for a mortgage with HSBC?

Tried to make an appointment with one branch but got forgotten about. Made an appointment at another branch and the property was valued a week later. So HSBC can be fast.

twobuckchuck

Got the news i have been waiting for this evening :beer: Got my mortgage approved through HSBC :j and have to say the process has gone pretty smoothly so far :T


Tuesday 9th Nov - Applied for 80%LTV lifetime tracker on phone

Friday 12th Nov - Recieved forms

Saturday 13th Nov - Posted signed forms back + bank statements & last 3 pay slips

Tuesday 23rd Nov - Got phone call for a few last checks before mortgage ws approved


Thanks to all on here for the help!

Good luck to everyone else

John

dolstar86

I started an application with HSBC on the phone on the 5th October, got the form and likewise sent everything back within a day or two of receiving the mortgage form. This was then sent to the underwriting department, and within the 7 day timescale, got a phone call from the underwriter handling my case to approve the mortgage.

The mortgage booking fee was then taken, and a valuation arranged.

Overall, HSBC have been speedy so far, and all I need for them to do is send over the solicitor the money for completion by the end of this week!

By the way, does anybody know when HSBC take off the £30 arrangement fee? Is this an upfront fee, or is it taken out of the total money to be transferred to your solicitors?

God bless x

TEDDYRUKSPIN

tonyfu wrote: »

Applied online for a 50k mortgage on 23rd October and had a telephone interview with them on 26th Oct. Have returned all their paperwork to them within a day or two of receiving it. On 10th Nov. I was told over the phone that our application was with the credit underwriting dept and we should know in 5-7 days if we've been approved for the mortgage. I rang again today (7 days later) and was given a similar response, "Your application is with the credit underwriting dept but nobody has started working on it yet, can't give you any timescale . . . "

I rang back later today to ask who I could make a written complaint to, only to be told to write to the manager of the credit underwriting dept!

Has anybody had any recent experience of applying for a mortgage with HSBC?

The people in the chain above and below us are wanting to move quickly and we're holding things up, should we continue to wait for HSBC or start again with a different mortgage provider?

Very grateful for any thoughts, advice or suggestions.

Tony

Erm. HSBC can actually be very fast. Since it has gone to the underwriting department, it means they are questioning your affordability, credit rating, and internal credit score rating.

I sometimes think it is great that people jump to the assumption that one service is poorer than the other. At the end of the day, both parties need to assess the risk.

Just a fair point for you. HSBC don't like people who have a buy to let, don't have a steady income, have a poor internal credit score, and alot of credit card debt.

If you don't fit into this bracket, I would check if your documents actually reached them and was scanned into the system.

To be honest, no point popping into a branch and moaning. If you carried it out over the phone, the person who carried out the application is responsible for this whole mortgage application.

Did you remember who the adviser is?

Just some useful information for you. It actually only takes 5 days for the underwriters to make a decision. Any longer, it means they have not received it and the mortgage adviser must submit the application again.

Are you sure they have received your application?

The overall process from agreement to survey should not take more than 3 weeks via the post.