Help! HSBC mortgage confusion

TrixA

The outcome of this was quite fascinating in the end. We ended up speaking to multiple HSBC representatives over multiple days. We were told several times by several people that we would have to apply for a completely new mortgage, as our previous mortgage offer had 'expired', and the rules had changed post MMR. No one seemed interested in the fact that we were proposing to borrow less money than we were with the original application. No one listened when we explained that the original application had been approved and the mortgage was showing in my online banking with a zero balance.

Following this advice we submitted a new online application.

Then, completely by chance, I called the 0800 number and ended up speaking to a different HSBC representative, who actually spoke sense. She was adamant that the advice from all the previous people had been wrong, and we could continue with our existing application "since your application was approved and is showing with a zero balance". She then proceeded to sort everything out for us. She sent a memo requesting our case to be processed as a simple case of change of property details, accurately predicted how long this would take (3-4 working days), and provided us with regular updates. Within a week the mortgage was all sorted. She cancelled the new mortgage application which we had been incorrectly advised to submit and asked Experian to wipe the credit check from the record. She even refunded the £900 product fee as an apology for the trouble her incompetent colleagues had put us through.

I'm not sure what to think!

kingstreet

Who you end up speaking to, determines the outcome of your mortgage application.

That would not be acceptable on our side of the market.

As it's a bank, it will be "fine". No-one wants to bring banks to account for their inability to do even the smallest of the tasks associated with their core activities.

HSBC is not alone. There are other (usual) suspects too...

cadman79

Doesn't it go to show you, computers are only as good as the people who input into them.
Common sense from a real experienced person wins!