HSBC Mortgage application timelines

emzyadds

Sonjim21 said:

The valuation was done within the first week. They have asked us a couple questions about any other house interests and if we had any additional income, but other from that nothing. We are both employed and in very stable jobs. We just keep being told it's with the underwriters and that we should get a text and email from HSBC soon. The broker seems to think we will know before they do. We are hoping for some good news today. 

Our broker keeps telling us the same thing. I'm beyond frustrated now. The underwriter has come back 3 times asking for more information. They've apparently assured the broker they now have everything they need and that we are back in the queue to be processed by the underwriter. They can't guarantee when we will find out though. Starting to regret wasting my time with HSBC as they could still come back and reject our application after all this time waiting. 

Sonjim21

That is our worry too. We have now waited nearly six weeks. Never did we imagine it would take this long just to get a mortgage! We heard from the broker today and they have had to resend a document which was sent to HSBC in the very beginning. We have now been told it will take another five days for the underwriters to look at it. It is so infuriating, especially as we were hoping to move next month (we are chain free and so are the sellers!).

Nedge79

Emzyadds this is the annoying part why come back on 3 separate occasions to ask for information, ask for all the information together, so in a sense reducing the time make a decision.

Would be interesting to see if other lenders experiencing such long decision times also.  

Nedge79

Sonjim21 said:

The valuation was done within the first week. They have asked us a couple questions about any other house interests and if we had any additional income, but other from that nothing. We are both employed and in very stable jobs. We just keep being told it's with the underwriters and that we should get a text and email from HSBC soon. The broker seems to think we will know before they do. We are hoping for some good news today. 

I think l got a e-mail before my broker to with the offer. 

I never thought would take Six weeks either to get a decision, l think you guys are nearing a decision soon hope you are both successful 

emzyadds

Sonjim21 said:

That is our worry too. We have now waited nearly six weeks. Never did we imagine it would take this long just to get a mortgage! We heard from the broker today and they have had to resend a document which was sent to HSBC in the very beginning. We have now been told it will take another five days for the underwriters to look at it. It is so infuriating, especially as we were hoping to move next month (we are chain free and so are the sellers!).

That's really bad. Yes we are both chain free too, we are hoping to move this month. I actually contacted another broker yesterday and have put in another application with Natwest. They said they process applications rather quickly so I guess we will see. I'm just desperate to get this mortgage sorted now. 
Hope you hear back soon. 

Sonjim21

Our mortgage offer came through today! We had a text followed by an email from HSBC with all the documents. We also knew before the broker! We are so happy it's such a relief. Fingers crossed you get yours soon. 

Nedge79

Sonjim21 said:

Our mortgage offer came through today! We had a text followed by an email from HSBC with all the documents. We also knew before the broker! We are so happy it's such a relief. Fingers crossed you get yours soon. 

Congratulations it is such a relief, yours took about the same as mine six weeks. Had a feeling you would hear soon 

how Far away from completion are you have you arranged surveyor etc yet?? 

Sonjim21

We are hoping to complete the middle of February. Instructed our conveyancer today to go ahead with the searches etc. Hopefully it won't take too long. 

Nedge79

Am probably around the same stage as you searches requested, my solicitor raised queries with contract pack to the sellers solicitor 7/12 still awaiting a reply to the queries, l have surveyor going in tomorrow 

emzyadds

Still !!!!!! waiting, so we appointed another broker and put a second application in with natwest yesterday. Hoping natwest get back to us first now as I'm sick of HSBC. I've lost all desire to get this mortgage from them after the hurdles they're putting us through.