HSBC montage

FTB_1991

Hi there 
I had an offer accepted on a mortgage in the middle of July. I have instructed the Solicitors who have commenced work. I have been trying to apply for a mortgage with HSBC for some time. I have a great broker who has been trying for about 2 weeks now with no luck... I have also gone direct and have an appointment mid-August... this is just to make the application let alone go through the hoops after.

I am a first time buyer and going with HSBC as my situation is slightly unique... although salary etc. should not be an issue... however, I am getting very frustrated and anxious about how long this is taking. 

Has anyone had any experience with this? What would you do? I am feeling really upset about this. 

chillicheesedog

Unfortunately not much you can do if you're set to apply with HSBC.
We had our offer accepted end of June and put in an application with their advisor on the 3rd of July and got our offer 4 weeks later (bc husband is self employed and it went to underwriters). It's quite agonising but have read some other cases on here which were a lot faster. If your situation is fairly straight forward i.e. perm full time employed etc. It might not be as long, if it is more complicated then it's definitely a waiting game.
Good luck! 

cooltt

FTB_1991 said:

Hi there 
I had an offer accepted on a mortgage in the middle of July. I have instructed the Solicitors who have commenced work. I have been trying to apply for a mortgage with HSBC for some time. I have a great broker who has been trying for about 2 weeks now with no luck... I have also gone direct and have an appointment mid-August... this is just to make the application let alone go through the hoops after.

I am a first time buyer and going with HSBC as my situation is slightly unique... although salary etc. should not be an issue... however, I am getting very frustrated and anxious about how long this is taking. 

Has anyone had any experience with this? What would you do? I am feeling really upset about this. 

I'm a HSBC customer for many years and even i have to wait in the que with non HSBC applications, which i think is unfair to be honest but that's a different discussion. 
HSBC are up to their eyes due to them allowing 10% deposits and most of their staff working from home.
If you know the mortgage product you want and have all the required documents ready to upload, you can opt for a non advised application which in theory is quicker than waiting for an advised appointment. You can save an exit the application at any point if you need assistance and all of their lending criteria is available to read on the website.
This is the only way you will speed up your application other than opting for a different lender. Many people are in the same situation. 

Thrugelmir

Funds for mortgages are finite. HSBC isn't a retailer selling as many cans of baked beans as it can. With the current economic climate they'll be extra cautious in evaluating applications.  

cooltt

Thrugelmir said:

Funds for mortgages are finite. HSBC isn't a retailer selling as many cans of baked beans as it can. With the current economic climate they'll be extra cautious in evaluating applications.  

Well if you believe that you must believe in unicorns too. The banking system has been creating money out of thin air for decades now and we all just shrug our shoulders. Checks and balances in the system are practically useless but as long as we can continue to feed the beast everything is is fine right?
Anyway a different discussion altogether.