HSBC Mortgage application timelines

Tashco

@propertyhunter what’s your LTV? our is 90% I think anything 85% or under they use desktop 

AilieG01

@Tashco I hope your right! My LTV is 84% so hopefully it’s only a desktop valuation. Was supposed to be getting done yesterday and when I spoke to estate agent on Monday they didn’t know anything about it. We were asked for more documents on Monday that we provided on the day but L&C only submitted them to HSBC today.  So maybe another week waiting 😩

propertyhunter

Tashco said:

@propertyhunter what’s your LTV? our is 90% I think anything 85% or under they use desktop 

It was 40% so that makes sense - but I did offer 3% over asking so did worry about a downvaluation. The interest rate is 1.44% fixed for 5 years. 

666666

So... interesting development... after asking us for Jan bank statement on the 7th of Feb... this morning I received an email from our broker the title is saying "Action required for your HSBC application" turns out it was a forward from our broker so I got really confused. Contacted our broker and they said oops sorry that was meant to be forwarded to your case manager here ... hmmm... and here we are on day 15th (11th working day)... I really hope they're not asking for more documents and then more waiting... wonder why case managers at banks don't just compile all the queries and extra docs they need and ask them at once, surely that's a more efficient way to go about it... the stress of it is consuming my life at the moment 

Tashco

@666666 Awh noooo! It’s frustrating when you need to put all your trust into them and it goes upside down!!! Hopefully not too much longer x

666666

Thank you @Tashco I'm hoping the same for you too! It looks like you, me and @AilieG01 are the ones left waiting from around similar submission dates. 

AilieG01

@666666 has your broker not been in touch yet with that the action is? Surely they can’t keep you waiting especially since you know that there was an email from HSBC to them! Our broker asked for more documents on Monday (which we put straight back) and they didn’t submit them to hsbc until Wednesday morning so we are back waiting again. 

Tashco

I just spoke with hsbc and they told me when you resubmit info your diarised for a week! So they don’t look at it for another week!!!! 

666666

AilieG01 said:

@666666 has your broker not been in touch yet with that the action is? Surely they can’t keep you waiting especially since you know that there was an email from HSBC to them! Our broker asked for more documents on Monday (which we put straight back) and they didn’t submit them to hsbc until Wednesday morning so we are back waiting again. 

Yes, they came back asking for my husband's Jan bank statement (we have separate bank accounts) which he just uploaded. They asked for mine on Monday, it is so irritating how they ask for things one at a time with 3 days gap in between... so inefficient and all over the place. That would really irritate me if they are sitting on a document for 2 days before submitting it to the bank   

666666

Tashco said:

I just spoke with hsbc and they told me when you resubmit info your diarised for a week! So they don’t look at it for another week!!!! 

This is so awful.. worse than government agencies. Didn't they tell you they will look at your straight away yesterday though?