Advantage of using own bank for mortgage?

Monkey_tennis

Hi

I'm a FTB and have had my offer accepted on a flat in SW London.

I require a 62% LTV mortgage and I bank with HSBC.

No defaults or CCJs, though I used to live in my overdraft.

Is it any quicker to get a mortgage with HSBC if they already have all of my banking history rather than whoever London and Country are going to place me with - who presumably will want all of my bank statements, pay slips etc.

I'm keen to hear of any good or bad experiences of mortgage providers at the moment as need to get my application in next week.

dimbo61

Your own bank can just pull up your last 3/6 months statements, they also know your monthly take home pay and if you live in the Black or RED !!!! All the time.
It is all about the deal at the end of the day but HSBC do offer some very good deals so they can pick and chose who they lend too.

mail2z

Own bank or not does not matter. Any bank will perform all the required checks before they decide to lend. Even the bank that you normally bank will request the evidences for mortgage qualification.

HSBC usually is very competitive for most mortgage products. They can be slooooow at times though.