Hsbc application 2 jobs

Nstjsy

Hi

I've applied for a mortgage with hsbc which has been referred to underwriter.

I earn £43680 in my first job and have a second job earning £39000. I only started my second job last month but have submitted my employment contract and offer letter. The second job is 25 hours a week and is a mixture of home based and on site which is what makes it manageable in terms of working two jobs.
The mortgage I'm looking at is borrowing £269000
I've received a decision in principle for £272000 based on my current level of debt
10k on credit cards
3 loan payments totalling £1300 pcm

No missed payments, ccjs defaults etc ever.

Oddly I've received the dip and agreed to full credit check but there is nothing showing in experian or equifax searches. There is one search from HSBC showing on noddle with says HSBC Sira Trial AF. I've googled this and it seems to be an anti fraud search with Sira a fraud prevention tool.
Does anyone know why there should be a fraud search? Is it because my income has nearly doubled this year?

Nstjsy

I also forgot to add that 3 times hsbc have asked how much my childcare costs are because I have a child.
He is 4 so I'm entitled to 30 hours free childcare and the remainder of the time he's cared for by family, I'm concerned why they keep questioning this.
I do not have childcare costs to pay as they can see from my bank statement

muhandis

If you’re pressured for time, in your place I would consult a broker (assuming you aren’t using one already) to review my options. There might well be lenders more suited to your circumstances and not as much of a pain to deal with.

Ps: The fraud/id check should most likely be a soft check (quotation search). I think it’s pretty standard, I had one with when a Halifax AIP was done.

Nstjsy

Thanks. I always tend to overthink things and Google too much.

Nstjsy

I chased up Hsbc today and they've advised that they need my first pay slip from second job otherwise the application will be cancelled. I'm a bit confused as they told me offer letter and employment contract would be sufficient to prove pay etc.

Fortunately I will receive my payslip in the next couple of days and will forward it straight to them.

If it's close on affordability will they decline or offer to lend less than requested?

amnblog

HSBC require latest pay slip from any employment to validate the income. They won’t progress an application without it. That goes for first or second jobs.

Whoever told you they would work on your employment offer letter for the new role was wrong.

Be careful, if they do not feel your second job is sustainable long term they may not like the case.

Nstjsy

It was Hsbc advisor who said that contract and offer letter would be sufficient which is slightly worrying. As you quite rightly point out and as I've seen on the intermediary site they do indeed need the payslip from new employment as it's additional employment.

In terms of sustainability I have no issue with the hours worked, I work 30-35 hours in my main job and 25 hours in the second employment. The second job is 2 miles from my home and a mixture of site and home based work.

I used to work for one of the large German supermarket chains and regularly worked 60+ hours per week with an hours commute each way.