Applying for a mortgage - without the property found....?!

ash213

So, ive been accepted by HSBC for a mortgage in principal, but i want to finish to process online to 100% gaurantee the mortgage.

The stumbling block is HSBC are now asking for details of the property.

I have no found a property yet, and dont want to waste my time finding one without the mortgage in place.

Any way round this? If I speak to them will they give me a concrete offer without property in place?

What happens if i put an address in the system of a possible property i have seen? Will i be able to change address on application later down the line?

Hope that makes sense,

Thanks

Thrugelmir

Without a property, HSBC will not process a mortgage application.

ash213

What happens If I put in any old property that I have viewed - which could be a possibility?

THEN - will they allow me to change it down the line to another property of same value or even lower?

Thanks.

ukbrockest

Without a property, HSBC will not process a mortgage application.

What you are suggesting is fraud

If you change the property, then the mortgage app will have to be underwritten again and the new property will have to be valued

ACG

They will also send out a valuer and the vendor/estate agent will be wondering what is going on, let alone the fact you will be paying for a valuation which is useless.

ash213

ukbrockest wrote: »

Without a property, HSBC will not process a mortgage application.

What you are suggesting is fraud

If you change the property, then the mortgage app will have to be underwritten again and the new property will have to be valued

OK, well I wasn't thinking of fraud.

I just want to ensure I can get a mortgage before I waste time looking for a property.

Can they not give me a guarantee or something so i can then search?

Thanks

ACG

A mortgage offer can be pulled right through to completion, but that is very unlikely.

There is a process in place, unfortunately you will have to follow it, there is no way around it.

beefturnmail

Why do you need it to look around for somewhere? AIP lets you know how much you can borrow so you know your budget to search and make offers. Then when you have an offer accepted on somewhere you can process the full mortgage. This is what everyone else does...

ash213

beefturnmail wrote: »

Why do you need it to look around for somewhere? AIP lets you know how much you can borrow so you know your budget to search and make offers. Then when you have an offer accepted on somewhere you can process the full mortgage. This is what everyone else does...

Err Yes, Thank you

Thrugelmir

ash213 wrote: »

Err Yes, Thank you

Speak to a mortgage advisor and run your circumstances past them. This will at least give an indication. In the meantime keep on saving.

ash213

My main concerns are relating to credit checks and proof of income etc