HSBC Agreement in principle but...

KingElvis

I would imagine HSBC will bin this one due to the defaults, some friends got rejected by them last year with just one default on their record which was low and paid off years ago.

Good luck though.

Dave_Ham

Logic says this is on the way now and should be fine, well done.

I cannot help being sceptical still, but with no substance other than HSBC previous bad behaviour..

Fingers crossed for you

Delboy85

KingElvis wrote: »

I would imagine HSBC will bin this one due to the defaults, some friends got rejected by them last year with just one default on their record which was low and paid off years ago.

Good luck though.

I have a formal offer of acceptance by the underwriters which is valid for 4 months (this is not just an AIP). Are you saying this could still turn into a rejection?

KingElvis

Delboy85 wrote: »

I have a formal offer of acceptance by the underwriters which is valid for 4 months (this is not just an AIP). Are you saying this could still turn into a rejection?

Until you actually complete, nothing is certain. Welcome to the wonderful world of mortgages

Like I said though, I do wish you luck.

Delboy85

What would you call complete - me signing the mortgage on Friday or actually completing a house purchase?

harvey115

Completing the house purchase, this is the day your solicitor sends the monies to the vendor and you get the keys from conveyancing point of view.

From Lender point of view it is the same completion date when you get the keys. However if your solicitor asked the lender to get the amount a day or two before the completion date, you will be charged extra interest for thos couple of days before the completion date.

Delboy85

I understand that the purchase is not complete and until it is complete a number of things can still go wrong e.g. valuation, broken chain...
What I would refute is that HSBC will bin our application due to the defaults as we have already been offered the mortgage formerly (at least for the next 4 months).

Tracewhy

Delboy85 wrote: »

I understand that the purchase is not complete and until it is complete a number of things can still go wrong e.g. valuation, broken chain...
What I would refute is that HSBC will bin our application due to the defaults as we have already been offered the mortgage formerly (at least for the next 4 months).

I know someone that had the mortgage pulled about 2 hours before they got the keys. Don't know who the lender was though, I wouldn;t celebrate till the keys were in my hand but then after the journey I'm having I'm extra cynical

I don't know much, but as long as the valuation and surveys have been done I think the risk of it happening is lower.

Delboy85

Tracewhy wrote: »

I know someone that had the mortgage pulled about 2 hours before they got the keys. Don't know who the lender was though, I wouldn;t celebrate till the keys were in my hand but then after the journey I'm having I'm extra cynical

I don't know much, but as long as the valuation and surveys have been done I think the risk of it happening is lower.

A deal is never done until it is done - i work in sales so i know that all too well. Providing my chain goes ok, the valuation and the survey (and the EURO situation doesn't completely implode) I am hoping I will be ok.