HSBC Mortgage application timelines

tarunp8099

Hi All,

I not found any recent HSBC mortgage application timeline that’s why I started new post.

My application timeline as below.

AIP & Application : 11th March 2021
Credit search : 11th March ( 7 time soft search & 1 hard search)

credit search : 17th March 2021

Ask additional docs: 17th March 2021

Docs submitted : 17th March 2021.

Again credit search : 19th March 2021.

wait for further update....

please post here your application timeline. So all get idea about timelines.

thanks 

Dadto3Boys

DIP: 16th March
Edited and new DIP: 18th March
Full Credit check: 20th March
Decision obtained: 20th March
Application under review: 20th March
Homebuyer Survey paid: 23rd March
Docs Submitted: 24th March

eddjimmyjones

I am also going through HSBC but via a broker:
18 Feb - DIP - DIP Conducted before I made offer on property.
4th March - full application sent, hard searches done.
5th March - phone call from broker stating mortgage agreed subject to valuation.
8th of March valuation conducted.
9th of March mortgage offer made and documents sent.

Took much quicker than I expected, I think using a good broker may have made a difference, My broker was thorough in getting all the information that was needed before application sent, broker also advised to delay full application by a few days as they had word that HSBC were about to lower their interest rates, sure enough this occurred on the day they said it would, this wound up saving me about £5 a month interest. 

Nikkihud0609

Ours is:

DIP 3rd Dec
Full app 3rd Dec
valuation 4th Dec
submission of payslips and bank statements docs 5th Dec
wait for eternity over Xmas lol
offer 29th Dec
completed 26th Feb

i think ours took so long due to Xmas really. Had no problems since offer, they did 1 check on us 4th Dec and that was it.

we did ours direct and they were really helpful and each time we’ve contacted their helplines they’ve been really helpful too.

tarunp8099

tarunp8099 said:

Hi All,

I not found any recent HSBC mortgage application timeline that’s why I started new post.

My application timeline as below.

AIP & Application : 11th March 2021
Credit search : 11th March ( 7 time soft search & 1 hard search)

credit search : 17th March 2021

Ask additional docs: 17th March 2021

Docs submitted : 17th March 2021.

Again credit search : 19th March 2021.

wait for further update....

please post here your application timeline. So all get idea about timelines.

thanks 

Offer received: 26/03/2021

Dadto3Boys

Dadto3Boys said:

DIP: 16th March
Edited and new DIP: 18th March
Full Credit check: 20th March
Decision obtained: 20th March
Application under review: 20th March
Homebuyer Survey paid: 23rd March
Docs Submitted: 24th March

They must have had a busy day, Offer Received: 26th March.
I am unaware of the homebuyer survey being completed, so assume it is separate to the valuation report - isn't that needed for the offer?

tarunp8099

Dadto3Boys said:

Dadto3Boys said:

DIP: 16th March
Edited and new DIP: 18th March
Full Credit check: 20th March
Decision obtained: 20th March
Application under review: 20th March
Homebuyer Survey paid: 23rd March
Docs Submitted: 24th March

They must have had a busy day, Offer Received: 26th March.
I am unaware of the homebuyer survey being completed, so assume it is separate to the valuation report - isn't that needed for the offer?

Congratulations 

chocfudge84

We’re currently part way through buying with hsbc. We’ve had an offer accepted and mortgage in principle. 

We’re having a desktop valuation completed next week. I’m a bit anxious about this as the house has been extended and modernised and is advertised at £95000 more than any house ever has been on the street. I’m worried it’ll be undervalued! 

Has anyone else had issues with valuation? 

Cheillie2020

I had full application yesterday and it was sent to underwriters yesterday (30/03/21). 

Anyone know the current turnaround timescale? 

Nikkihud0609

Cheillie2020 said:

I had full application yesterday and it was sent to underwriters yesterday (30/03/21). 

Anyone know the current turnaround timescale? 

They say up to 2 weeks but I understand they’re being quite quick at the moment so hopefully you won’t need to wait that long

Heres_the_deal

Three days from start to offer (albeit, I'm only looking for £12k ).

Applied Tuesday (30 Feb), received offer three days later on Friday (2 April) with an option to see if a lower rate was available.  I've not even sorted the solicitor yet, the clocks now running, 6 months and counting down.