HSBC have pulled 90 LTV mortgages for FTB

tweeto

I see from today HSBC are no longer accepting 90 ltv mortgage applications from first time buyers. They say on their website that its due to very high demand so hopefully it will be temporary while they work through the backlog.

I currently have an application in with them and believe they will still process it!..... I also heard from somebody that HSBC said if you currently have an AIP and an appointment with an advisor (by going direct) they will still accept these applications, but no new advisor appointments! So if you have an appointment already booked don't reschedule it.

Another twist in this pandemic, it's getting so hard for first time buyers with 10% deposits. 

Tuesday1510

I am ready to buy with a 10% deposit living at my mother-in-laws. Just a case of waiting with gritted teeth for it to settle or saving for a 15% deposit, whichever comes first

haras_n0sirrah

There are other lenders doing 10% deposit - the rates just aren't as good

Carl2510

Are FTB seen differently to someone buying again? Are they looked at as if they don’t have proof they can keep on top of a mortgage?

Tolmeister

tweeto said:

I see from today HSBC are no longer accepting 90 ltv mortgage applications from first time buyers. They say on their website that its due to very high demand so hopefully it will be temporary while they work through the backlog.

I currently have an application in with them and believe they will still process it!..... I also heard from somebody that HSBC said if you currently have an AIP and an appointment with an advisor (by going direct) they will still accept these applications, but no new advisor appointments! So if you have an appointment already booked don't reschedule it.

Another twist in this pandemic, it's getting so hard for first time buyers with 10% deposits. 

I can confirm that if you had an AIP and an appointment booked before the 2nd of September (even if the appointment is scheduled for a date later than today), they will still honour the 90% LTV.

zobo1993

Tolmeister said:

tweeto said:

I see from today HSBC are no longer accepting 90 ltv mortgage applications from first time buyers. They say on their website that its due to very high demand so hopefully it will be temporary while they work through the backlog.

I currently have an application in with them and believe they will still process it!..... I also heard from somebody that HSBC said if you currently have an AIP and an appointment with an advisor (by going direct) they will still accept these applications, but no new advisor appointments! So if you have an appointment already booked don't reschedule it.

Another twist in this pandemic, it's getting so hard for first time buyers with 10% deposits. 

I can confirm that if you had an AIP and an appointment booked before the 2nd of September (even if the appointment is scheduled for a date later than today), they will still honour the 90% LTV.

Hi Tomeister, 
Have you had a mortgage appointment or know somebody who has? We have an AIP dated 18 August 2020 and a mortgage meeting booked in for 16th with HSBC which was booked before 2nd September. I have been told that they would honour the 90% but when my partner called up, he was told we would need a minimum of 15%. 

Tolmeister

zobo1993 said:

Tolmeister said:

tweeto said:

I see from today HSBC are no longer accepting 90 ltv mortgage applications from first time buyers. They say on their website that its due to very high demand so hopefully it will be temporary while they work through the backlog.

I currently have an application in with them and believe they will still process it!..... I also heard from somebody that HSBC said if you currently have an AIP and an appointment with an advisor (by going direct) they will still accept these applications, but no new advisor appointments! So if you have an appointment already booked don't reschedule it.

Another twist in this pandemic, it's getting so hard for first time buyers with 10% deposits. 

I can confirm that if you had an AIP and an appointment booked before the 2nd of September (even if the appointment is scheduled for a date later than today), they will still honour the 90% LTV.

Hi Tomeister, 
Have you had a mortgage appointment or know somebody who has? We have an AIP dated 18 August 2020 and a mortgage meeting booked in for 16th with HSBC which was booked before 2nd September. I have been told that they would honour the 90% but when my partner called up, he was told we would need a minimum of 15%. 

Hey,

Yes, I have an AIP and an appointment booked but had a welcome call today.  The advisor confirmed that anyone with an AIP and appointment booked prior to the 2nd Sept would have their 90% LTV honoured.