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HSBC decision obtained timeline

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Hi,
Has anyone had an experience with HSBC online portal updates regarding mortgage timeline.

I along with my wife applied on 24th September as FTB at 85% LTV. Had AIP before hand so I knew the figures but still had to go through a 2hrs long appointment with MA over zoom and pretty much wasted.
Ended up with 2 applications on the portal the next day along with 2 hard checks done and time line days manual referral - ready for offer - decision obtained and it 5/10/20 with no further update. Valuation was completed on 28/10/20 though so but of a positive progress there but overall I’m kind of kept in dark.
Spoke to customer service and they can’t see anything as the application is with underwriter apparently.😕
Kindly share any similar experiences of anyone has. 

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
     Valuation was completed on 28/10/20 though so but of a positive progress there but overall I’m kind of kept in dark.

    Did you mean September? If it's October there's some time to wait yet. Little point in chasing. 
  • Sorry yes it was in September. It was done on 28/09/20 and MA said it will take 48hrs for underwriters to get back. It says on the portal ‘decision obtained’ but no updates for us to see what decision was obtained. 
    Having said that, we have previously booked full application with Halifax coming up tmr 6/10/20 as they have already completed their underwriting and only waiting for us to apply. Not sure whether to go ahead with Halifax as well or should we wait for HSBC. They have taken the booking fee and valuation has also been completed. Better wait I suppose but keen on getting over to Halifax as the MA said their turnaround time for us will be 1week max.
  • I've got a very similar timeline. I had a nightmare with a previous property and Nationwide (weeks of waiting and then they didn't like the property!), then found the current property, applied on 25/09 and had an email from my broker this morning that they have approved the mortgage. 85% LTV and FTB. My broker said it would take 24 to 48 hours for the actual mortgage offer to come through.
    Initial property found & offer accepted: 24/09/2020
    Full application: 25/09/2020
    ...everything feel through due to a missing EWS1 form in late October...
    New property found and offer accepted: 9/11/2020
    Change of property request: 10/11/2020
    Mortgage offer received: 15/11/2020 
    Searches back: 06/12/2020
    Exchange: 26/02/2021
    Completion: 04/02/2021 - wohooo!
  • I think HSBC is the most ridiculous of the lenders in keeping the customers up to date with mortgage process.

    First of all they have uploaded 2 applications (apparently MA couldn't get the application to load) but eventually original application came back up and now we have 2 applications on the portal with 2 hard check & 2 soft check prints on credit file although one says cancelled now.

    Their timeline of events is also very confusing as it keeps on updating from 25th September till today 7th October only to tell us that application is with underwriters. Decision Obtained first on 26th September and again says Decision Obtained 5th October but that decisions is what? Nobody know even tried to email for updates from MA and he says, he has no idea as the applications is with underwriters. There were 2 more soft searches one on 5th October and I have no idea what is happening with no further timescale, it is getting on my nerves and restlessness is on peak.
    Anyone else experienced similar vague timescales, please update.
    Customer services have also got no updates apart from saying that its with underwriters and I have seen people getting Mortgage offers in 2-3 days even one got on the same day with HSBC. 

    Self employed applications do go into manual referrals but they should have asked more paperwork or made a decision by now. I don't know what's holding them back now.


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