HSBC Buy to Let Mortgage

Jonesy_21

Hi all,
We have sold our property and our buyers are buying as a buy to let. They have been waiting for nearly 9 weeks for their mortgage offer from HSBC, the have had the AIP but it is now with HSBC's underwriters, we need to exchange within 3 weeks otherwise we are in danger of loosing the house we have bought - has anyone had any experience with BTL mortgages through HSBC - does it usually take this long, I am getting really nervous now.
Thanks

FTB_1991

Jonesy_21 said:

Hi all,
We have sold our property and our buyers are buying as a buy to let. They have been waiting for nearly 9 weeks for their mortgage offer from HSBC, the have had the AIP but it is now with HSBC's underwriters, we need to exchange within 3 weeks otherwise we are in danger of loosing the house we have bought - has anyone had any experience with BTL mortgages through HSBC - does it usually take this long, I am getting really nervous now.
Thanks

I don’t know about BTL but HSBC are generally taking ages... 

Jonesy_21

Thanks. It’s just worrying me that it’s been with the underwriters for so long and they have asked for payslips and monthly statements to be resubmitted. I don’t understand why as surely they would have been submitted already 

dimbo61

Have you taken a look on the HSBC website ?
I think they have pulled all the 90% LTV residential mortgages so they may have changed the lending criteria for there BTL deals.
Maybe last month it was 80%LTV but this week it's 75%LTV.
Mortgage market changing daily