Can I get a mortgage with HSBC

haras_n0sirrah

Going through a broker you wouldn't have to wait until the 4th august 
I got one in this morning for someone who had an offer accepted on saturday
Going direct there is a queue.

jurgen19

dunstonh said:

 I don’t trust what the broker said and I don’t trust what the HSBC advisor said

That is a very sad state of affairs.   What did the broker do to make you feel that way?

 I’m so stressed out about this we’ve got good credit reports 

2 late payments is not good.     A good credit history is one with no late payments, defaults or arrears.    Late payments are not necessarily application killers but if you are pushing limits in other areas, they can be enough to turn it into a decline or reduce the lending offered.

Sorry I should have worded it better what I should have said is barring the two late payments on my wife’s report everything else is paid on time and up to date and in good order.

jurgen19

jurgen19 said:

dunstonh said:

 I don’t trust what the broker said and I don’t trust what the HSBC advisor said

That is a very sad state of affairs.   What did the broker do to make you feel that way?

 I’m so stressed out about this we’ve got good credit reports 

2 late payments is not good.     A good credit history is one with no late payments, defaults or arrears.    Late payments are not necessarily application killers but if you are pushing limits in other areas, they can be enough to turn it into a decline or reduce the lending offered.

Sorry I should have worded it better what I should have said is barring the two late payments on my wife’s report everything else is paid on time and up to date and in good order.

I don’t trust the broker because I spoke with one before him who said the late payments might be an issue but I already had an appointment with the broker in question who said they couldn’t understand why we had been told that and as far as she could see it wouldn’t be an issue.

jurgen19

haras_n0sirrah said:

Going through a broker you wouldn't have to wait until the 4th august 
I got one in this morning for someone who had an offer accepted on saturday
Going direct there is a queue.

Hindsight is a wonderful thing. As first time buyers with two young children we were trying to save ourselves as much money as we could but it will probably come back to bite us. I’ve read many things online and spoken with friends and family and the majority said don’t go with a broker save yourself the money, I wish now I had just gone with my gut instinct and used a broker 😩

dunstonh

jurgen19 said:

haras_n0sirrah said:

Going through a broker you wouldn't have to wait until the 4th august 
I got one in this morning for someone who had an offer accepted on saturday
Going direct there is a queue.

Hindsight is a wonderful thing. As first time buyers with two young children we were trying to save ourselves as much money as we could but it will probably come back to bite us. I’ve read many things online and spoken with friends and family and the majority said don’t go with a broker save yourself the money, I wish now I had just gone with my gut instinct and used a broker 😩

Brokers are one of the cheapest people when it comes to costs with a house purchase.  £100-£250 being the typical range. In high value areas, often there is no fee at all.

jurgen19

dunstonh said:

jurgen19 said:

haras_n0sirrah said:

Going through a broker you wouldn't have to wait until the 4th august 
I got one in this morning for someone who had an offer accepted on saturday
Going direct there is a queue.

Hindsight is a wonderful thing. As first time buyers with two young children we were trying to save ourselves as much money as we could but it will probably come back to bite us. I’ve read many things online and spoken with friends and family and the majority said don’t go with a broker save yourself the money, I wish now I had just gone with my gut instinct and used a broker 😩

Brokers are one of the cheapest people when it comes to costs with a house purchase.  £100-£250 being the typical range. In high value areas, often there is no fee at all.

Not the two I contacted. Out of the two £495 was the cheapest. Like I previously said I regret not going through a broker, I don’t understand why the need to keep bringing brokers into it. I’ve openly said I’ve made a mistake by not using one. So I think we have established a broker would have been the best option going forward. 

[Deleted User]

I have been a qualified solicitor for 27 years. Before I qualified,  I worked in a mortgage dept for 3 years, then residential conveyancing for 6 years. My credit reports are truly outstanding - I get mortgages 75% on BTL or residential under 40% LTV 

On saying all the above ..... I would NEVER apply for a mortgage without a broker - trust - an open market broker are worth their weight in gold
HSBC are a picky nightmare to navigate - Id never apply direct and Ive banked with them for 38 years 

jurgen19

Densol said:

I have been a qualified solicitor for 27 years. Before I qualified,  I worked in a mortgage dept for 3 years, then residential conveyancing for 6 years. My credit reports are truly outstanding - I get mortgages 75% on BTL or residential under 40% LTV 

On saying all the above ..... I would NEVER apply for a mortgage without a broker - trust - an open market broker are worth their weight in gold
HSBC are a picky nightmare to navigate - Id never apply direct and Ive banked with them for 38 years 

Well done for all your achievements in life 👍🏼 I spoken with people who have applied directly with HSBC and have no problems with them whatsoever but they are not me I suppose and each application is different. I came on here to get some kind of reassurance and perhaps some advice that didn’t just involve you should have used a broker 
(which has been quite clearly established as correct) thank you for your input and I will take it on board. Would you suggest I cancel my appointment and go with a broker or continue and see what happens?

hannah2283

Densol said:

I have been a qualified solicitor for 27 years. Before I qualified,  I worked in a mortgage dept for 3 years, then residential conveyancing for 6 years. My credit reports are truly outstanding - I get mortgages 75% on BTL or residential under 40% LTV 

On saying all the above ..... I would NEVER apply for a mortgage without a broker - trust - an open market broker are worth their weight in gold
HSBC are a picky nightmare to navigate - Id never apply direct and Ive banked with them for 38 years 

Useful to read this as I’m having a bit of trouble with HSBC saying my property is worth £0 at the moment! 

olumz1

Applied directly to HSBC via an adviser on 10th July, got a call to submit statement that reflects salary payment on the 13th July. Estate agent called that HSBC requires entry into the property for valuation on the 21st July. I would have thought that valuation was booked only when there's a provisional offer and in 2 days I should get an update from HSBC. It's been 6 days now still no response from the bank. Decided to call them up today and I was kept on the phone for 1.5 hours only for a lady with a strong accent to pick up and cut me off the call as I requested that she repeated herself. Anyone in a similar situation, please share how long you had to wait for after valuation was carried out. Thanks