We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
HSBC mortgage declined
Comments
-
I'd be interested to see the figures on declines where the borrower has already confirmed they will "buy" three or four of the lender's insurance products, in comparison with those who reject such advice early in the process.
Not just for HSBC, all lenders. I guess we'll never see those numbers, though.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thrugelmir wrote: »HSBC have always been one of the most conservative lenders in the market. Targeting very specific potential borrowers.Now that all the cheap and easy lenders have fallen by the wayside. HSBC is now the largest single net new lender in the market. Hence the demand in its products. HSBC has never changed its ways. The market has shifted.
Perfect credit history is in the eye of the borrower. Lenders score in different ways to people assume. Nor forget that mortgage fraud is on the increase as people attempt to obtain that elusive mortgage they desire.
None of this negates my suspicion that HSBC pre sell.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
Got my credit score back 999 out of 999 (wife has the same) so absolutely flummoxed as to why HSBC would decline us. Nationwide have said yes immediately which is unfortunate for us as the rate is slightly higher.0
-
Got my credit score back 999 out of 999 (wife has the same) so absolutely flummoxed as to why HSBC would decline us. Nationwide have said yes immediately which is unfortunate for us as the rate is slightly higher.
It is possible to get a 999 credit score from the credit agency and have no income. Questions asked by lenders will determine their scoring.
CRA scores are pretty much meaningless.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards