HSBC Mortgage Application / Underwriting

K123456789

Hi

Has anyone recently applied for a HSBC mortgage and should I worry (which I am doing) that it's been referred to underwriting for approval?


I used to use my credit cards for day to day items (petrol, food, etc (for ease)) but paid if off in full each month but stopped doing that (6 weeks ago); I just use my debit card now for these items so my monthly credit card statements are only a few pounds + Just cleared my loan as well so I have no debt.


Any advice? Previous Experience? will be great - Thanks

csgohan4

underwriting is done for a variety of reasons, be it audit/compliance or queries. Just give them what they ask for, otherwise you have wait i'm afraid

K123456789

Thanks


If it's gone to Underwriting does that mean I have passed their 'credit check' and this is now purely for audit/compliance or queries purposes now? Thanks

csgohan4

K123456789 wrote: »

Thanks


If it's gone to Underwriting does that mean I have passed their 'credit check' and this is now purely for audit/compliance or queries purposes now? Thanks

Passing credit check is irrelevant as you can pass and you can still get rejected for a variety of reasons, be it income not matching, not being in a job for x period

77588p

I have just been through the process with HSBC.

To start with they were fantastic. Everything done so quickly. Underwriters passed the application and i receieved an offer subject to valuation. Thats how HSBC do their offers.

Valuation came back and was fine. Got a phone call to say offer will be out that day.

Phone call 2 days later to say its been declined due to not delaring an outgoing which I absolutely did declare. They even went through my statements with a fine tooth comb and asking me questions about payments etc so they could see the outgoing then and passed it.

The underwriter agreed but said now its been declined his hands are tied.

I should have just gone with Nationwide.

Thrugelmir

77588p wrote: »

Everything done so quickly. Underwriters passed the application and i receieved an offer subject to valuation. Thats how HSBC do their offers.

What form did this "offer" take, i.e. a letter, a verbal conversation?

glosoli

Sounds like a possible faita compli to me!

K123456789

That's not good.

Was it a big outgoing amount that they missed off? / did you manage to get a Mortgage with nationwide.

77588p

Our online application status changed to 'offer' and we got a text saying the application was approved subject to valuation.

No we have not applied to Nationwide yet. Im waiting to see if someone from HSBC has any common sense and changes the decision because ita their error.

xcmdx

I'm currently doing mine through the branch. It was originally rejected due to adverse credit but they have now apparently put through an appeal to the underwriters, any suggestion on how long this will take for a decision? the suspense is killing me.

K123456789

I guess it'll go in the queue again.

They told me that it'll take 3-5 working days.

Tell me about it, it's killing me too ��