FTB HSBC Mortgage Woes

jonfed89

Hello everyone

I applied for a new mortgage with HSBC say almost 3 weeks ago now. Everything has been submitted (unfortunately due to being paid in foreign currency HSBC are the only ones who will entertain my application)

I've supplied everything to them and should of had a decision earlier this week, but after being told Tuesday at the latest they missed that completely and said it'd be another 48 hours, they got back in touch with the broker and asked who pays for my living expenses while I am away. Finance dept covers my hotels while I'm away and when in China I stay with my wife.

What do we think? Am I worrying over nothing here? Am I going to need to prove this, if so how could I? I don't keep my receipts as this all goes to the company and my wife's place is rented by her. They just asked it as a question but I'm just not sure if I'm just being a nervy FTB. Help!

ACG

jonfed89 wrote: »

(unfortunately due to being paid in foreign currency HSBC are the only ones who will entertain my application)

Being paid in a foreign currency does not limit you to HSBC.


I cant answer your question as HSBC only works with a limited number of brokers. But you have not been given bad news as such, just that the time frames have been extended.

jonfed89

Agreed, I just have a 10% deposit on a 95k house so not the worlds biggest mortgage. They said they'd be back in touch tomorrow, touch wood we get some good news.

LRmortgage

HSBC usually get there in the end (no promises though). As your case is foreign currency income it would have gone to a specialist team to underwrite the case rather than the normal fast track. Be patient.

jonfed89

Update for you all

HSBC have approved my mortgage subject to valuation!!!!!

LRmortgage

There we go, I said they’d get there in the end...

jonfed89

LRmortgage wrote: »

There we go, I said they’d get there in the end...

You were right! Patience is a virtue, having been blown out of the water before on a house I really wanted before I was fearful that it was going to happen again. I think buying a house has taken a few years off me and added a few more grey hairs for sure.