HSBC Mortgage

elginlad06

Folks,

First time posting on the forum and just looking for some opinions as you guy's seem to know what you’re talking about when it comes to mortgages. I think I may be over panicking but just looking for some reassurance.

I am a FTB (Single application) and looking to borrow £97000 (10% LTV). I never have and currently do not have any debts apart from a credit card with less than £200 to pay off on it (never missed a payment either).

I do not have any outgoing's (apart from the normal, flat rent, mobile phone, utilities bills etc), dependants etc and have a basic salary of just under £28000 with it increasing by £1000 every year for the next 8 years. I am also on the electoral roll and do not have an overdraft.

My deposit is all coming from savings that I have accumulated over the past 3 years. I organised a mortgage in principal on Wednesday and the advisor on the phone said it came back as conditional however he also said this was normal practise for 90% mortgages with HSBC. I sent away the application on Friday. He said everything was as normal as it could be at that point. I passed all the credit checks etc over the phone as well

I have read on other forums that HSBC are bad for declining mortgage applications and can sometimes take a while to get back in touch? Any previous experience? I am also a buyer in Scotland. I have had an offer accepted on a property and due to move in on 23 April 2012. (I know it works differently in other parts of the UK)

I was and still am confident but I'm maybe starting to panic a bit for some stupid reason.

Any help would be appreciated.

Thanks.

Proxy

I've just had a 10% deposit approved with HSBC in less than a week from application.

It can happen.