HSBC mortgage stages

otmotm

Hi all, 
We are trying to estimate when we can plan for our exchange and completion. Our buyer is doing his application with HSBC and a valuation has been scheduled (3 weeks after his full application). He did it via an independent broker. We are wondering if the valuation is the final stage or is that only the beginning of the process? If it is only the beginning, that means we will need to continue to hold our breath for another month or so after the valuation... This waiting game is rather painful indeed. Would really appreciate your comments...

BekahLeaDee

Have recently gone through the process with HSBC. Our valuation was booked on the 4th September (we were not told the date of when it was taking place) and we received our offer on the 8th! Very quick turn around for us so I do hope it is the same for most! 

tinytiddles

We have recently completed in a mortgage with HSBC, our mortgage was approved subject to valuation within a couple of days of application and once the valuation was done (thankfully came back bang on) the offer was issued. Ours took about 3 weeks in total from full application to offer although this was before they became swamped with applications to be fair. 

Thrugelmir

otmotm said:

Hi all, 
We are trying to estimate when we can plan for our exchange and completion. 

Don’t try.  Be guided by your solicitor as matters progress. 

otmotm

Thank you all for sharing your experience and advice. This is really the best forum

sully1311

otmotm said:

Thank you all for sharing your experience and advice. This is really the best forum

Have you had any news yet?

otmotm

sully1311 said:

otmotm said:

Thank you all for sharing your experience and advice. This is really the best forum

Have you had any news yet?

Hi there - no we still have not heard anything. The valuation was done just on Wednesday (16 Sep), so we're hoping to hear back by Monday/Tuesday next week. If not, that simply means the underwriting process has just begun after the valuation.