HSBC online application timeline confirmed.

Process90

Jonesy_21 said:

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.

Be as patient as you can. Most cases are taking a few weeks to go through valuation and underwriting.

AnxiousFTB

Jonesy_21 said:

Are all mortgages with HSBC referred to an underwriter?

Mine wasn't - zoom appointment with HSBC on 13th July, valuation done couple of days later (I think) and full offer received on 18th July. I completed last week and I'm aware timescales could have been much longer. 

tweeto

Just an update to my original timeline. I phoned HSBC today to ensure that the removal of 90 LTV mortgages for FTB's wouldn't affect existing applications (I knew it wouldn't, but was an excuse to get an update on my application).

They said the valuation has been done and it came back exactly what we agreed for the house. They said the current status of our application is: "Ready for offer". Does anyone know what that means in HSBC speak? A little bit of research shows it may still have to pass final round of underwriting?......The anticipation is killing me!! 

New updated timeline:
DIP: 14th August
Hard credit check: 19th August
Application submitted by HSBC advisor: 20th August
Valuation confirmed & matched: 2nd Sept
Current application status: "Ready to offer"

Tayla_Adams

Hi all - I'm currently waiting for the valuation report to come back from HSBC. Can anyone tell me a rough idea of how long it took between the valuation visit taking place and HSBC confirming the outcome? I had the text 2 weeks ago confirming mortgage is approved subject to valuation. Valuation was done a week ago today but haven't heard about the outcome yet. 

tweeto

tweeto said:

Just an update to my original timeline. I phoned HSBC today to ensure that the removal of 90 LTV mortgages for FTB's wouldn't affect existing applications (I knew it wouldn't, but was an excuse to get an update on my application).

They said the valuation has been done and it came back exactly what we agreed for the house. They said the current status of our application is: "Ready for offer". Does anyone know what that means in HSBC speak? A little bit of research shows it may still have to pass final round of underwriting?......The anticipation is killing me!! 

New updated timeline:
DIP: 14th August
Hard credit check: 19th August
Application submitted by HSBC advisor: 20th August
Valuation confirmed & matched: 2nd Sept
Current application status: "Ready to offer"

Mortgage offer received today!! Very impressed how quick it was after I switched from broker to direct, and considering my partner is on part time furlough........My full timeline is as follows:

Offer accepted on house: 10/7
Broker trying to submit application: 13/7>
Went direct to HSBC, AIP done: 17/8
Phone application with advisor: 19/8
Application submitted/hard credit search: 20/8
Valuation completed: 2/9
Mortgage offer: 4/9

Just hope there's nothing surprising in the survey next week so we can exchange asap   

matthew91822

Jonesy_21 said:

Are all mortgages with HSBC referred to an underwriter?

I don't think so. In my experience with 60% LTV, I had the advisor meeting on a Friday morning and received full offer text at 4am on Monday morning. So unless they worked weekends, they might have skipped it with me.

tigsly

My application has said 'ready for offer' - but they will send me a link to update information  - but have not sent the link for 2 weeks now - They are asking 'if you have been furloughed' (which I have not been)... they put a note on my case said it would all 'ease through on Tuesday' .. now it's Friday and nothing has been happened - i'm going to ring them again tomorrow (i'm waiting an hour on the phone each time.. I hate it!!)

Gerber1

tigsly said:

My application has said 'ready for offer' - but they will send me a link to update information  - but have not sent the link for 2 weeks now - They are asking 'if you have been furloughed' (which I have not been)... they put a note on my case said it would all 'ease through on Tuesday' .. now it's Friday and nothing has been happened - i'm going to ring them again tomorrow (i'm waiting an hour on the phone each time.. I hate it!!)

Hi. Did your mortgage get approved with them after all? I am at exact same stage as you with HSBC. TIA