HSBC Mortgage Underwriting

matt_james27

Noticed that HSBC have upped their 5y fixed rates for 75% LTV from 1.49% to 1.69%, my application is in progress, submitted last week by my broker. If I get accepted will it be at the old rates?
EDIT: broker said it will be at the rates at the time of application

Process90

Anyone know if they're taking regular variable income i.e. commission?  Their new COVID criteria says that they are still taking 50% of your averaged amount so seems like they are but wanted to see if anyone has had theirs taken accepted in the last few weeks?

matt_james27

it might say here? 
http://www.intermediaries.hsbc.co.uk/criteria/residential-lending-criteria.html

Process90

matt_james27 said:

it might say here? 
http://www.intermediaries.hsbc.co.uk/criteria/residential-lending-criteria.html

Yeah, that's what I was reading as well. Just wondered if anyone has had their variable income accepted as per their new criteria.

TainaN

Hi All,
Did any of you got the application through on the 2 hours appointment without going to underwriting? ATM turnaround is 4 weeks, we would really want to avoid it? So trying to figure out what triggers it. Thanks a lot!

Matt817954

TainaN said:

Hi All,
Did any of you got the application through on the 2 hours appointment without going to underwriting? ATM turnaround is 4 weeks, we would really want to avoid it? So trying to figure out what triggers it. Thanks a lot!

I waited nearly 4 weeks for the 2 hour phone call which happened yesterday. Was warned that it may be a couple of weeks for the underwriters to approve and valuation to happen but got a message from the advisor this afternoon that it was approved.

Estate agent also been in touch to say the valuation was booked in immediately and happened today so the timescales might be worst case scenario. Very surprised it went this quick after the original wait. Fingers crossed the valuation is all ok!

Tolmeister

Anyone have an update on this?  Application went in 2 weeks ago today and valuation was completed on Tuesday.

vakgta2018

Hi all, my timeline with HSBC so far:

We applied direct to save time.
DIP and full application 25/9.
Requested some documentation 28/9.
Partner had to be sent a log in so she could go in and confirm details as she's not a HSBC customer, completed 30/9
Now just says 'Application under review' and we've heard no more!

BreezeAM

I'm a current HSBC mortgage customer on a fixed term for another 14 months (my current account is also with them) and I applied for a new mortgage to port over the current rate and borrow on top for a new property.  I did my application late one Friday evening and scanned in the only document they required from me, my last payslip, the next day and it was approved and offered in only 6 working days which really surprised me.  They had warned me it's taking up to 3 or 4 weeks for underwriters to check through applications so I must be lucky as it was so straightforward - I just thought it was worth me putting out there my very positive experience with them as I know hearing horror stories can put people off!

staceyw82

We submitted our application on the 11th Sept. Had DIP already in place. We just got an email yesterday to say its finally moved to the underwriters. 5 weeks so far!