HSBC online application timeline confirmed.

jamesm5094

After a long wait I finally got my mortgage offer yesterday! Am so happy! 

Here is my timeline: 
16/06 DIP completed 
08/07 Another DIP completed due to putting more deposit down as haven’t got to pay stamp duty. 

08/07 also completed full application with Mortgage advisor from HSBC
09/07 vauluation done (they already had it on the system from previous failed application through broker)
09/07 got sent to the underwriting team
27/07 underwriters requested more documents (I uploaded them same day) 
11/08 Mortgage advisor came back saying underwriters have assessed my application and can only lend X amount (this amount was £28,000 short of what we can lend)
11/08 I asked what we could lend if we put more deposit down 15% or more
12/08 MA come back saying underwriters said we could lend X amount with just over 15% deposit (and this fits to what we needed) 
13/08 Phone call with MA to adjust figures and application sent straight back to underwriter who has been dealing with application
17/08 received mortgage offer ! 

This has been a very long process and we are both exhausted and stressed beyond limits! We have been calling every weekday to get updates as MA arnt very good and on average was on hold for 30-45 mins every time! 

Good luck to you all

TrustyCust

I received my mortgage offer yesterday albeit there is an error on the offer form but they have said they will amend this but it will take 2-3 days! 

I strongly believe that had I not of chased weekly/a couple of time’s a week, I would still be waiting for a while longer so definitely chase. I have found the phone lines the past week have very small waiting times compared to before! 

jamesm5094

TrustyCust said:

I received my mortgage offer yesterday albeit there is an error on the offer form but they have said they will amend this but it will take 2-3 days! 

I strongly believe that had I not of chased weekly/a couple of time’s a week, I would still be waiting for a while longer so definitely chase. I have found the phone lines the past week have very small waiting times compared to before! 

Congrtualations, yeah defo chase chase chase is the answer otherwise nothing gets done! 

Process90

Congrats on getting your offers. We received an offer but the sale has fallen through due to the massive down-valuation so we're back viewing 4 properties on Saturday and we'll hopefully have the offer ported to the new property once we agree a price on one - according to broker. 

What a rollercoaster. No-one teaches you about mortgages and how to buy a house at school...

TrustyCust

Process90 said:

Congrats on getting your offers. We received an offer but the sale has fallen through due to the massive down-valuation so we're back viewing 4 properties on Saturday and we'll hopefully have the offer ported to the new property once we agree a price on one - according to broker. 

What a rollercoaster. No-one teaches you about mortgages and how to buy a house at school...

Sorry to hear about your sale falling through but pleased to hear you too have your offer!
Good luck in the property search! 

tweeto

Thought i'd join this thread.

Have been trying via a mortgage broker to get the application in since 10th July with no joy, so have decided to go directly to HSBC with an advisor.

DIP: 14th August
Hard credit check: 19th August
Application submitted by HSBC advisor: 20th August

....Now we wait 

Jonesy_21

Hi all, I am joining this thread as I too am interested in the timescales for HSBC.
We are on the other side of the fence in so far as our buyers are waiting for their offer from HSBC. It is comforting to hear that they aren't the only ones waiting. They have received their DIP but said that they asked for further docs which is now with the underwriters. I was concerned as I thought it only went to underwriters if there was a potential problem, however reading this thread would I be right in assuming all HSBC mortgages are referred to underwriters?

They were told nearly 3 weeks ago it was with the underwriters and "won't be long" - I am trying to be patient and not drive them nuts by chasing constantly but it is worrying me.

FTB_1991

@Jonesy_21 unfortunately, the timescales are very long - I keep hearing this everywhere. 

Jonesy_21

Are all mortgages with HSBC referred to an underwriter?

FTB_1991

Jonesy_21 said:

Are all mortgages with HSBC referred to an underwriter?

I have heard mixed things. 

I got told mine was approved subject to valuation (which is a whole other can of worms at the moment). I am employed, high income etc. However, anyone self-employed or had been furloughed etc. are all being referred to underwriters.
I then separately *heard* that all applications are going through underwriting.
I don’t really know but even for straightforward cases, it seems to be taking ages...
not sure what the truth is but just that the wait is long...