HSBC remortgage application declined

Thrugelmir

Kaz030 wrote: »

Newbie here and i wish you good luck.

To add to your thread, does anyone know if the EU Affordability Test will still be applied as stringently, now we are to leave the EU? Surely banks don't have to adhere to it, or at least "won't" have to once we have actually left the EU?

EU legislation is trailing the UK's own self regulation. Poor lending decisions were the root cause of the crash of 2007/08.

minimike2

csgohan4 wrote: »

I understand that HSBC are direct only and do not deal with brokers. Anyone care to disagree?

Used to be. Not any more. They now deal with a panel of selected large brokerage firms.

Lrimas

My mortgage was approved :j

I have learnt a few things with this application:

1) Decisions can be reversed. If the decision is obviously wrong don't just accept it, appeal.

2) Do not enter your savings and investments under "savings and investments"

3) Read the questions VERY carefully. I assume by doing this I could have avoided (2l

4) Use a broker or at the very least an advisor in branch

5) Send information (and proof) about anything strange that you have in your payslips.

Hopefully next time it will be easier.

I hope this is useful to someone else who is in the same situation.