Hsbc mortgage & countrywide nightmare warning

LuizNewFlat

Do NOT engage HSBC for your mortgage. The lack of quality of their work is appalling. They give you different information all the time (basically lies) and are most of the time inconsistent. HSBC simply does not answer emails and when they do, it is to give pointless explanations that they were right. Once they have your Offer Letter, they completely ignore you. Their Panel Solicitors (Premier Property Lawyers; Caroline Gardner) delay the process for absolutely no reason. For instance, the panel solicitor said she was waiting for my flat evaluation whilst HSBC informed that she had received it at the same time I did (i.e., two weeks before). In another occasion, she said she was just missing one document and now started asking for documents all over again. It is absolutely frustrating. My exchange has been delayed more than two weeks already. IF YOU HAVE THE CHANCE, DO NOT ENGAGE HSBC FOR YOUR MORTGAGE.

bhindi

In my case, I cannot speak highly enough of HSBC, they have done everything promptly. My mortgage was completed with them in less than 4 weeks and so I am very happy.

kingstreet

bhindi wrote: »

In my case, I cannot speak highly enough of HSBC, they have done everything promptly. My mortgage was completed with them in less than 4 weeks and so I am very happy.

Who did your legal work and when?

mimimt

I'm so glad I did not instruct Countrywide which was recommended by the EA when I bought my flat. I didn't go with HSBC mortgages either (well, they wouldn't lend me either because I have a bank account with them which I don't regularly use hence my behaviour score would be 0). I went with another bank which did the valuation in 48 hours and approved my mortgage application within a week.

I was really upset when I couldn't get HSBC's slightly lower rate at that time, but now feel much better after hearing all these terrible stories on the board.

puregeordie

So that's why their rates appear to be cheaper!!

I was remortgaging with HSBC and had nowt but hassle over photocopies etc over what I thought was a simple re-mortgage transfer.

Just sticking with who I'm already with as cannot be bothered with the hassle.

Maxidec

I 'sold' my property on the 6th December 2011 and I am still waiting for the Exchange of contracts. Is this normal even with the delays being caused by HSBC/Countrywide?

The survey on the property was meant to have been booked in by the 15th December 2011, but was only undertaken on the 18th January 2012. The Estate Agents informed me that the Surveyors were very busy and to expect to have a survey done with in 10 days of selling the property is rare!

The HSBC approved the Buyers mortgage on the 24th January 2012 and yet the exchange has not been concluded. the exchange date was due for the middle of February 2012.

I am being told that the hold up for all of the above is the HSBC and Countrywide.

Is this really possible???

Should my Estate Agent have informed me prior to accepting the offer on the house the circumstances of getting involved with a Buyer using a HSBC mortgage?

Any advice would be much appreciated.

Thrugelmir

Maxidec wrote: »

Any advice would be much appreciated.

Best person to ask is your solicitor.

bhindi

kingstreet wrote: »

Who did your legal work and when?

Mine was a remortgage, and it was all fee free, so there own solicitor, Grindeys. just completed about 1.5 weeks ago.

kingstreet

The HSBC issue doesn't really affect those remortgaging, as the borrower will normally have a "free" solicitor appointed by the lender anyway.

In the cases we're seeing reported now, purchasers are being affected by HSBC's decision to employ a separate solicitor where the borrower appoints a solicitor of his choice which isn't a member of HSBC's new panel of just 43 conveyancers, which is managed by panel member, Countrywide.

It seems the only chance of your purchase going smoothly is by choosing one of the panel firms that isn't Countrywide.

It's worth bearing in mind, the Law Society's list of CQS accredited conveyancing firms is around 1,650 strong.

Bombaymix_2

We applied for a mortgage in January & were supposed to exchange at the end of February but are still waiting for Countrywide despite almost daily phone calls from HSBC & our solicitors trying to find out what's going on. HSBC mortgage staff have been really helpful but can do little; they tell me few people have complained officially to them so unless you do phone & ask to make an official complaint HSBC will continue to use this atrocious system. No bank is too big to get away with treating it's customers like this though.

Please complain if you have been unlucky to have had dealings with Countrywide & avoid like the plague if you haven't. The person at HSBC who thought this up should be sacked...