HSBC mortgage timelines

ChonkyChops

Anyone got any recent updates? We've had our self-employed foreign income application in for 6 weeks now. Going through a broker, so can't login to see any updates via the portal.

V5gO9

Nearing the end of our house buying journey...hopefully.

Has anyone recently completed on a HSBC mortgage? Wondering how much notice they need prior to completion? And long they take to respond after the lenders report is submitted?

Thanks in advance!

geoave1

V5gO9 said:

Nearing the end of our house buying journey...hopefully.

Has anyone recently completed on a HSBC mortgage? Wondering how much notice they need prior to completion? And long they take to respond after the lenders report is submitted?

Thanks in advance!

We are due to complete on the 4th January. Our solicitor requested the drawdown of funds from HSBC on the 23rd December. The funds landed in the solicitors account today (and also now showing on our mortgage account on HSBC online, it was previously showing as 0) ready to be transferred for completion on Monday. Think my solicitor said HSBC need 5 working days from requesting drawdown to transferring funds which is what it was for us. Not too sure about the lenders report! Good luck .

Nikkihud0609

ChonkyChopsForumite15 POSTS

30 December 2020 at 10:06AM

Anyone got any recent updates? We've had our self-employed foreign income application in for 6 weeks now. Going through a broker, so can't login to see any updates via the portal

we had our mortgage offer 30th December, it took around 5 weeks in total they only asked for 2 bank statements to show wages going in and reviewed our forces help to buy information. Very slow! Hoping they come back to you soon! I saw when I managed to log in online that they reviewed the application 29th Dec so it was quick after they began the underwriting. We went direct however as forces help to buy wasn’t available via brokers.

ChonkyChops

Nikkihud0609 said:

we had our mortgage offer 30th December, it took around 5 weeks in total they only asked for 2 bank statements to show wages going in and reviewed our forces help to buy information. Very slow! Hoping they come back to you soon! I saw when I managed to log in online that they reviewed the application 29th Dec so it was quick after they began the underwriting. We went direct however as forces help to buy wasn’t available via brokers.

We had our application moved to a different underwriting team too, but I'm hoping that doesn't mean we went back to the end of the queue again. On day 40 today... 

Nikkihud0609

ChonkyChops said:

Nikkihud0609 said:

we had our mortgage offer 30th December, it took around 5 weeks in total they only asked for 2 bank statements to show wages going in and reviewed our forces help to buy information. Very slow! Hoping they come back to you soon! I saw when I managed to log in online that they reviewed the application 29th Dec so it was quick after they began the underwriting. We went direct however as forces help to buy wasn’t available via brokers.

We had our application moved to a different underwriting team too, but I'm hoping that doesn't mean we went back to the end of the queue again. On day 40 today... 

wow! I have everything crossed for you, they are so slow at the moment. 

ChonkyChops

Just been informed that we'll have an underwriters decision tomorrow morning...

ChonkyChops

WE GOT OUR OFFER THROUGH THIS EVENING!
Can't believe it!

Nikkihud0609

ChonkyChops said:

WE GOT OUR OFFER THROUGH THIS EVENING!
Can't believe it!

Ahhh that’s great news!! Congratulations!!

Jonboy08

Hi all, just thought I would share my experience with HSBC. 

AIP completed on the 22/05 - accept 
Full application submitted on 28/05
sent latest payslips via doc upload link on 28/05
call from underwriters explaining that something is flagging up on there system. This was a loan that was repaid in March but still showing up on HSBC system. 

28/05 sent across copies of bank statements.
01/06 sent copy of letter stating loan repaid
various chats with the UW all week regarding other docs needed for my partner. 

07/05 valuation completed

08/06 happy with everything but need one more letter regarding another commitment that has been repaid. 

09/06- sent in last letter. 

The above has caused a delay due to hsbc using out of date data. UW is super nice and is really patient so don’t be put off if your app gets referred. HSBC seem to be very old fashioned with how they write there mortgages. Hopefully they should have everything now offer the mortgage. Fingers crossed