HSBC mortgage: a lost cause?

Thrugelmir

GoldenShadow wrote: »

But the issue is, no one seems to know what qualities HSBC are cherry picking for.

HSBC have always been conservative (small c) lenders. It's their board policy to target low risk borrowers. They only came to prominence after the GFC. When other lenders literally fell away leaving them, at the time, the biggest lender in the market place. To put matters in perspective Lloyds were leding gross around £75 billion a year compared to HSBC's £12 billion.

Thrugelmir

rubru5 wrote: »

they said no way to a valuation being done in the next two weeks, as requested by the vendor, but when I said it wasn't really acceptable or a viable timeframe given how houses are being snapped up and vendors know someone else would bite their hand off,

Valuations are contracted out by lenders. So you are at the mercy of a surveyor being available. No amount of demanding will change that.

rubru5

I appreciate that, but I have lost one property, in part, due to their slowness already, and they must know that thousands of forums like this one are full of people decrying their services for these reasons. I know they don't ultimately care about my lowly business, but something's got to give for their reputation and the sake of lenders.

Thrugelmir

rubru5 wrote: »

I appreciate that, but I have lost one property, in part, due to their slowness already, and they must know that thousands of forums like this one are full of people decrying their services for these reasons. I know they don't ultimately care about my lowly business, but something's got to give for their reputation and the sake of lenders.

I don't know when you left the UK but the mortgage market is now a very different place. Lenders can no longer act as if they are retailing cans of baked beans. If you want a personal banking service then use a private bank. Otherwise you'll just have to queue up with all the other serfs and wait your turn to be served. You chose HSBC not the other way round.

rubru5

I was merely making the point that it isn't excellent, not that I think I am in some way better than anyone else!

Anyway, I retract all my fears and skepticism as HSBC called today to say it was all approved and underwriters happy, so fingers crossed all goes well from here on out! Experience this week from HSBC has been superb and our mortgage adviser has gone above and beyond to help up, so very pleased with her.

Thrugelmir wrote: »

If you want a personal banking service then use a private bank. Otherwise you'll just have to queue up with all the other serfs and wait your turn to be served. You chose HSBC not the other way round.

happylucky

OP stated they returned to UK this July after just 10 months in Dubai.I assume that means their only period of absence was Sept 2014 - July 2015.

The new residential mortgage rules were therefore introduced well before they departed, no? What else is being referred to?

happylucky

Congratulations on your news, rubru5...Hope the purchase goes smoothly for you.