HSBC Mortgage application timelines

vin21

MIP on 14th 
Our application went in on Feb 14th - 5 soft checks and 1 hard check
Survey on 15th
Radio silence since then.  
MB has told us that the valuation was accepted. 
A little context, we're 90% LTV for a £500k property. Our joint income is £104k per year but I have had a few missed payments
The wait is agonising - I've had a few missed payments but more than 18 months ago - never for an amount larger than about £80 and only one month! 

Will this be an issue?

Prichard

So I suppose I ought to add my timeline so far to this:

11th Feb - Affordability completed with Broker.
11th Feb - Broker submitted full application with HSBC (said AIP would not be necessary and just as well go to full application). Documents submitted.
15th Feb - Broker says that this is when 'case went in' (unsure what this means).
15th Feb - Valuation (physical) instructed for 22nd (discovered via Agent).
22nd Feb - Valuation conducted.
24th Feb - I chase broker who says he does not see the valuation but he has been told it is 'satisfied' (assume that means HSBC are happy to lend against the property?). 
24th Feb - Broker says that lender is underwriting now and doing final checks on docs received 11th/12th. He says case went in on15th so it should be looked at towards mid/end of next week, depending on how busy they are.

1stTmeBuyer

Congrats everyone it indeed was a day of offers. 

Hopefully for the ones waiting it won't be too long. 

@Prichard hopefully it comes tomorrow and avoids the weekend of not knowing what's happening.

@vin21 my gut says it should be fine with recent statements being satisfactory to HSBC. 18 months ago for that amount will surely be overlooked as it was a while back.

All the best. 

666666

Congrats everyone who got the offer! And everyone who is still waiting I know it’s so stressful but I’m hoping for positive result for all of you! 🤞

Ferrier

Congratulations all who have received their offers.

I had an update on my case this evening. Underwriters have approved my application 🙌  I'm just waiting for the offer to come through now. Hopefully hsbc work weekends if not Monday/Tuesday 🤞

vin21

Got the offer at 00:41 this morning - strange time for HSBC to send out offers!
for reference:
MiP: 14th Feb
Full application: 14th Feb
Hard and soft searches: 14th Feb
No other engagement 
Offer 26th Feb.

Here comes the rest of our life!

fingers crossed for everyone else

SallyDickens

Thank you for sharing!

Jchef81

Hi all. 

Have just joined this forum so this a first post for me.

I have placed a mortgage application with HSBC just last week and the online portal has been updated to say 'Decision Obtained' - does anyone know what that tends to mean? If its any help i completed the full application on the 24th Feb and the EA tells me a valuation has been booked for the 3rd March.

Ferrier

Finally I can share some good news. My offer came through this morning. Thanks for all your help. 💙 

Hopefully the rest of you won't be to much longer 🤞

propertyhunter

Ferrier said:

Finally I can share some good news. My offer came through this morning. Thanks for all your help. 💙 

Hopefully the rest of you won't be to much longer 🤞

Congratulations! So happy for you!