First time buyer help. Halifax or HSBC?

2004nsnazir

Hi


we have made an offer on a property and it has been accepted.
Solicitors have been sorted but im not too sure who to take the mortgage out with?


Halifax is offering an interest rate of 2.04%. £999 fee, £200 non refundable valuation fee and £1,000 cashback.


HSBC recommended by London and Country Brokers are coming under 1.98/1.84%. I think there is a fee but no cashback.


Are London and country any good? Bot sure if they charge any fees or how quickly they process the application etc?


We went directly to HSBC and they have given us as a Mortgage in Agreement and have booked us in with a mortgage appointment. I think with them theres like a £800/£900 non refundable valuation fee.


I have heard HSBC are strict with their applications and are lend to and I'm wondering if anyone has taken a mortgage out with them?


Both Halifax and HSBC repayments are very similar and can afford both. Advisor at Halifax did say HSBc are very strict and that their workers come to them for mortgages. Not too sure how true this is.


Please could someone share their experiences with either. Really confused if I should go with he cheaper rate but have trouble with them half way in the process.


Any help/advice is much appreciated.

Klr005

We just completed with HSBC last week.

The whole process from application to offer was 7 working days.
We used a broker to apply and HSBC were satisfied with all our documents so didnt request anything additional.

We were remortgaging from another lender but also staircasing to 100% on our shared ownership property so were borrowing more so it wasn't a super simple application and it still went exceptionally quickly for us.

Great experience with them.

Klr005

I should also mention that we were borrowing the absolute maximum they would lend us and it still wasn't an issue.

warnerr88

2004nsnazir wrote: »

Hi


we have made an offer on a property and it has been accepted.
Solicitors have been sorted but im not too sure who to take the mortgage out with?


Halifax is offering an interest rate of 2.04%. £999 fee, £200 non refundable valuation fee and £1,000 cashback.


HSBC recommended by London and Country Brokers are coming under 1.98/1.84%. I think there is a fee but no cashback.


Are London and country any good? Bot sure if they charge any fees or how quickly they process the application etc?


We went directly to HSBC and they have given us as a Mortgage in Agreement and have booked us in with a mortgage appointment. I think with them theres like a £800/£900 non refundable valuation fee.


I have heard HSBC are strict with their applications and are lend to and I'm wondering if anyone has taken a mortgage out with them?


Both Halifax and HSBC repayments are very similar and can afford both. Advisor at Halifax did say HSBc are very strict and that their workers come to them for mortgages. Not too sure how true this is.


Please could someone share their experiences with either. Really confused if I should go with he cheaper rate but have trouble with them half way in the process.


Any help/advice is much appreciated.

I used L&C Mortgages too and they recommended HSBC...this was after I went to HSBC myself after looking at the online deals, we wanted to borrow the maximum amount they would let me and when I spoke to their adviser on the phone, he looked at my partners wages slip (who list her holiday pay separate to basic pay) and tried saying that they wouldn't lend us the amount we needed as her basic pay looked lower then that I stated...even though we knew he worked it out right. I rang L&C and explained the situation about her wage slips, they recommended a deal from HSBC so we applied through them, though the wage slip situation did come up as they had contact with the underwriter we got it sorted in the end, though took us 4 weeks which included Easter holidays. If didn't have the issue would have been quicker.

Simon_'Sprout'_Phillips

took mine out with Halifax 4 1/2 years ago, and borrowed a bit extra since and can only say they have been really great