HSBC mortgage timelines

bolwin1

I went via a good mortgage broker - docs (all 32 of them !) were submitted to the broker on Monday 16th November. Desktop valuation done on Tuesday 17th. Broker rang me on Thursday 19th to confirm it had been approved & full offer arrived today (Friday 20th). Less than 5 working days !
My case was fairly simple - employed, 3 times salary, 60% LTV & good credit rating, but even so, I was really impressed with the timescales of both the broker & HSBC. 

haras_n0sirrah

bolwin1 said:

I went via a good mortgage broker - docs (all 32 of them !) were submitted to the broker on Monday 16th November. Desktop valuation done on Tuesday 17th. Broker rang me on Thursday 19th to confirm it had been approved & full offer arrived today (Friday 20th). Less than 5 working days !
My case was fairly simple - employed, 3 times salary, 60% LTV & good credit rating, but even so, I was really impressed with the timescales of both the broker & HSBC. 

My pleasure -  I know it is a pain getting so much information together upfront but it makes it so much easier to ensure it goes through underwriting quickly.

staceyw82

Update from my foreign income application...Still no further forward.
Had a few silly questions to answer over a week ago. We are now living with my parents with our 2 kids and just want to know either way!!!!
Application was first sent Sept 11th. Broker has been chasing them up for us but hopefully will hear this week.

g4eva11

staceyw82 said:

Update from my foreign income application...Still no further forward.
Had a few silly questions to answer over a week ago. We are now living with my parents with our 2 kids and just want to know either way!!!!
Application was first sent Sept 11th. Broker has been chasing them up for us but hopefully will hear this week.

Sorry to hear that. We had something similar although I guess not silly after I understood why. Anyhow, we hope to give the final round of documents tomorrow after which they can give approval as the valuation has already been approved! Fingers crossed we'll get some good news. We applied on 3 September if it makes if you feel any better.

g4eva11

g4eva11 said:

staceyw82 said:

Update from my foreign income application...Still no further forward.
Had a few silly questions to answer over a week ago. We are now living with my parents with our 2 kids and just want to know either way!!!!
Application was first sent Sept 11th. Broker has been chasing them up for us but hopefully will hear this week.

Sorry to hear that. We had something similar although I guess not silly after I understood why. Anyhow, we hope to give the final round of documents tomorrow after which they can give approval as the valuation has already been approved! Fingers crossed we'll get some good news. We applied on 3 September if it makes if you feel any better.

Btw I think after they get to a certain stage they will be contacting your broker daily if any questions arise. We had contact nearly 3 times last week for explanations which we got to them. They finally wanted the documents which our broker will hopefully submit early tomorrow morning! 

geoave1

geoave1 said:

Hi all, thought i'd share the timeline as I have been following others! Have applied directly with HSBC 65% LTV (complex application with foreign income).
06 Oct 2020 Given a Decision in Principle & soft credit check done

19 Oct 2020 Had appointment with MA from HSBC (3.5hrs!) - Application Submitted
20 Oct 2020 full credit check & Application under review
22 Oct 2020 Manual referral to UW and status still 'application under review'
28 Oct 2020 Contacted by Valuation company to book in a physical valuation
06 Nov 2020 Physical Valuation carried out

Application has was modified on the 8th & today but no status change from application under review. It is agonising waiting but fingers crossed - the issue is the searches which we instructed our solicitor to do on the 5th October and they're still not back (5 weeks and counting).

Updated timeline..

19/11 offer received! 

So exactly 1 month in total. Now to finish the conveyancing! Crossing fingers for everybody waiting, it will happen!

staceyw82

Update!

We got our mortgage approved on Monday! Now we are awaiting valuation to be carried out. Havent got a date yet.

Calandja

I was watching this thread going through the HSBC process, so I thought I would share our timeline to help others:
9th Nov- Submitted mortgage application with independent broker, mortgage survey automatically instructed 
12th Nov- Mortgage survey took place
19th Nov- Asked for my employment contract as halfway through probation
Silence in between and no updates, lots of chasing
1st Dec- Mortgage offer text came through.

We had a 40% deposit. So it took 3 weeks and 1 day start to finish.  We were told by multiple people that HSBC are very busy right now.  Search HSBC mortgage on twitter, its full of complaints about being on hold for 2 hours and then hanging up. 
Glad we have the offer now, but waiting since 19th Nov with no update was frustrating.

ChonkyChops

Does anyone know if it's possible to track a mortgage application with HSBC if I am going through a broker for it? I know that with Natwest for example you can still track a mortgage, but I can't seem to find anywhere to do this with HSBC.

Nikkihud0609

Any recent updates on offers? Been waiting 2.5 weeks now since we submitted bank statements and payslips. We are using forces help to buy so it had to be sent to underwriters, but the wait is killing me! The portal online keeps locking me out too I’ve given up ringing to get it unlocked!