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HSBC mortgage nightmares
laskes
Posts: 36 Forumite
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When I challenged him on the absurdity of his comment
Banks can change their risk profile overnight. What was ok yesterday may not be acceptable tomorrow.
The bank has never given you a formal offer for a £475k mortgage. A decision in principle is not an offer.
HSBC has recently tightened its lending criteria as it looks to derisk across the business. In simple terms lend less to higher quality borrowers.0 -
Check the terms of the mortgage offer regarding fees and if they are refundable or not. Any valuation fees won't be if the valuation has been carried out.
May be worth speaking to a broker to see how this can be resolved away from HSBC should any appeals fail. Probably worth trying elsewhere whilst appealing to HSBC to get a plan b at least.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 -
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