*ANSWERED*: Bankruptcy Search AFTER EXCHANGE! - Can HSBC now pull my mortgage offer?

epsilondraconis

I've just gone onto the HSBC website and clicked apply for a mortgage and even before I'm allowed to click on the "Start Applying" button, it confirms that I have to answer Yes to a number of questions. One of which is "Do you have a clean credit history?".

Maybe the OP didn't apply online; however I would have thought there would have been a question somewhere on the paper application asking about defaults etc.

As you say JoJo1daffy, it looks like all the OP can do is wait. Hope it all works out for you OP...

CloudCuckooLand

No "adverse credit" question in the application documentation ?

A quick google has not turned up HSBC paperwork, but would have thought it would have something like;

39 Have you (or if self employed, your business) ever been bankrupt or insolvent
or made any arrangements with creditors? Yes No Yes No

If “Yes” please give details on the Additional Information Sheet at the end of this form

40 Have you (or if self employed, your business) ever had a judgement or court
decree against you? Yes No Yes No

If “Yes” please give details on the Additional Information Sheet at the end of this form, including whether an appeal is pending or whether an application

has been made to set aside the judgement


page 7, of http://www.nationwide.co.uk/nr/rdonlyres/a48ffc87-7e29-4ea6-b24d-2720746c5d9e/0/m1inov06.pdf

GMS

From a quick searh on sourcing software it appears HSBC will not allow a bankruptcy. Not asking the question directly would usually mean it was an assumption somewhere in the application.

As for disclosing to the 'guy in the bank'. There have been many comments on bank staff and how they deal with customers. They are not advisers. They are sales staff and as a result will try to meet and exceed their targets. Unfortunately they will have little regard for the customer.

I hope the OP has a good result with this. Credit score has obviously been passed which is difficult enough in itself with HSBC so fingers crossed this will be all they require.

ruggedtoast

Surely the solicitor has been negligent by letting her client exchange when there were still searches for the lender to do?

Trollfever

Who completed and signed the application form?

The guy in the bank or the OP?

Stuffed.

DemonIT

epsilondraconis wrote: »

So is there no where on the HSBC mortgage application that asks the customer to indicate whether they have had any defaults, CCJs or been declared bankrupt?

The whole application was done in 2 parts, both in person at the branch.
The application is done by the staff etering my details into computer, there are no forms which I myself completed (other than to sign what they printed).
I was not, at any time, asked about my credit, other than for my consent for a credit search.

I have gone back over all the paperwork I was given (and have signed) and there is nothing on there about credit history.

DemonIT

Trollfever wrote: »

Who completed and signed the application form?

The guy in the bank or the OP?

Stuffed.

Staff completed it on screen, I signed the paper, but made sure I read what u was signing and as mentioned in oter replies there was nothing about adverse credit history.

ruggedtoast

Does anyone know if there are other lenders who would consider the OP.

For the time being OP I would spend the weekend researching other mortgages you might be able to get. It is at least hopeful that you haven't heard anything back from HSBC. The fact they haven't just immediately pulled the mortgage is a hopeful sign that you may be ok. We really need to know how this slipped through.

As a last resort you could try appealing to the vendors better nature. How much money are we taking about?

Try not to panic.

neverdespairgirl

ruggedtoast wrote: »

Surely the solicitor has been negligent by letting her client exchange when there were still searches for the lender to do?

I don't know about HSBC, but with our new Lloyds mortgage, they say they can do checks and withdraw it up to the time the funds are drawn by the solicitor.

ruggedtoast

neverdespairgirl wrote: »

I don't know about HSBC, but with our new Lloyds mortgage, they say they can do checks and withdraw it up to the time the funds are drawn by the solicitor.

Yes, mine said that too. It was a bit of a nagging worry up until completion to be honest!