How long does it take to hear back from Bank?

KareenaMukherjee

Went to HSBC on the Friday just gone, and filled out my forms for my mortgage application. I was pre approved a few weeks ago, so this i assume was the main application to the 'underwriters', etc.

They contacted me again on Monday, asking for more details. Really anal details that left me a little speechless, like my birth certificate, a few other bits and bobs. Anyhows, they're were all give that day.

I don't hold up much hope of getting the mortgage, and fully expect to be called back asking for my finger prints, colour of my eyes, bra size ... just was wondering how long i should expect to wait on a decision.

Do they tell you if you're approved before they do their free survery to check the value of the home?

Sigh ...

JSR

KareenaMukherjee wrote: »

and fully expect to be called back asking for my finger prints, colour of my eyes, bra size ...

LOL. I know what you mean. Buying a house is now an outrageously invasive process. Give up any hope of privacy! Just wait until your solicitor starts on you for anti-money laundering regulations. My deposit is mostly coming from a sale a couple of years ago and I have been renting since. I have to provide documentary evidence for the complete history of the money. But because it has been spread around a bit I basically have to hand over all of my financial records since the date of the sale. :mad:

Sorry don't know the answer to your question with HSBC.

Wh05apk

and if you go for any life cover/protection, that's when it get's really interesting! Sexual habits, drink, drugs, you name it, it can be very interesting being a broker!

jonathanmiller

You tend to find that the mortgage has been fully approved before they spend 'their' money on the survey. I wouldnt know current HSBC service standards but the affordability model they use seems to have resolved the massive issue of up to 16 months for a mortgage offer they used to have.

gb26

We were accepted for a mortgage with HSBC at the end of January, as the day the mortgage department looked at the application was the 1st Feb and my bank statement didn't go this far, we had handed the statements in on the 28th Jan or simliar I had to nip to my bank and get an up to date statement printed.

Slightly annoying, perhaps, but HSBC have the lowest number of repossessions because they make sure you can afford the mortgage and all the associated costs, something we should maybe be thankful for.

All in all it didn't take longer than a week, they did advise they had a back-log at the time, maybe give your contact at the bank a call and just see? ours was lovely and always available for any questions.

I know now I can say this all calmly now but at the time I was just inpatiently tapping the phone