HSBC 1 month wait for advisor appointment??

bradders1983

i waited 5 days for Barclays and 2 of those were over a weekend. A month is taking the P.

AnxiousFTB

I had to wait 2 weeks at the beginning of July for a zoom call. Unless it's changed, for anything less than 20% deposit you are forced to have the call (unless presumably it's through a Broker). Once I had the call I was approved there and then and I had my full offer within 6 days (valuation done about 3 days after the zoom). 

cooltt

matthew91822 said:

Hi

FTB and I got an offer accepted on a property earlier this week. Had a AIP from HSBC and applied for the mortgage today, to be told I have to wait a month just to discuss it with an advisor - go through paperwork etc. 

Is this normal? Honestly tempted to look at going with another mortgage company or do it without advice. I kinda know what sort of mortgage I want - Has anyone else applied without advice?

Thanks in advance

No this isn't right it's still about 2 weeks but if you call them first thing at 8am daily they nearly always have cancellations to offer you.

matthew91822

cooltt said:

matthew91822 said:

Hi

FTB and I got an offer accepted on a property earlier this week. Had a AIP from HSBC and applied for the mortgage today, to be told I have to wait a month just to discuss it with an advisor - go through paperwork etc. 

Is this normal? Honestly tempted to look at going with another mortgage company or do it without advice. I kinda know what sort of mortgage I want - Has anyone else applied without advice?

Thanks in advance

No this isn't right it's still about 2 weeks but if you call them first thing at 8am daily they nearly always have cancellations to offer you.

I rang yesterday at 8am and they had no earlier bookings, rang today and got one 3 days earlier. Better but still rediculous. I did say I was looking at going with another lender as the wait time is rediculous - they didn't really care. It's adding on so much time to the purchase of a chain free property!

[Deleted User]

Im not a broker
Ive banked with HSBC for 38 years 
I find them extremely tricky to deal with.
I would never go to them without a broker - Ive read far too many horror stories about them 

haras_n0sirrah

HSBC won't worry about you going elsewhere - they have so many applicants it is taking them a month to book in appointments as they have so many people.
Your reality is you have 3 options
1) wait 
2) use a broker to get an application in with hsbc (may have to pay the broker a fee to do so as the likes of l&c are overrun and will therefore not help if trying to cut down time - 300-500 is typical for a broker on 'vanilla' cases
3) use a different lender and pay a higher interest rate which may cost more than the broker in the long run
While we brokers also have a delay in submitting business to hsbc due to their daily limits it is taking typically a week to submit an application which is still quicker than the 1 month wait.
The choice is yours
I dont know how other brokers manage hsbc but we are a team of 8. Each broker is only taking one hsbc 85%+ application at a time. Once that application is successfully submitted then that broker is freed up for another application. It wouldn't be fair to clients otherwise as it would be impossible for a broker to do two at a time. Currently 5 out of the 8 of our brokers have an hsbc applicant. The hsbc 8am booking has now become a ritual.

Thrugelmir

Besides capacity issues. HSBC may well have decided to limit the amount of new mortgage advances. Selling mortgages isn't the same as baked beans. Funding is finite. Risk has to be factored in. HSBC are the biggest lender in the UK market. 

jurgen19

We have our appointment with HSBC on Tuesday after over a 3 week wait after getting our AIP with them. Nervous is n understatement! Good luck with yours and let me know how you get on👍🏼

matthew91822

jurgen19 said:

We have our appointment with HSBC on Tuesday after over a 3 week wait after getting our AIP with them. Nervous is n understatement! Good luck with yours and let me know how you get on👍🏼

Oooh good luck, hope it goes well! Yeah I'm nervous too as got a slightly complicated income and borrowing close to my max AIP.

jurgen19

matthew91822 said:

jurgen19 said:

We have our appointment with HSBC on Tuesday after over a 3 week wait after getting our AIP with them. Nervous is n understatement! Good luck with yours and let me know how you get on👍🏼

Oooh good luck, hope it goes well! Yeah I'm nervous too as got a slightly complicated income and borrowing close to my max AIP.

Yeah we are in the same boat as regards to our Max AIP which is really stressful but hopefully we can get through it