HSBC Mortgage application timelines

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Congrats @Ferrier! So happy for you! 😊

Prichard

Prichard said:

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.

An update on mine... HSBC have now completed income verification & today asked Broker how much of our deposit is in the form of a gift. Anyone heard of this before??

danlewi2

Prichard said:

Prichard said:

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.

An update on mine... HSBC have now completed income verification & today asked Broker how much of our deposit is in the form of a gift. Anyone heard of this before??

Is any of your deposit coming from a gift and not your own savings?

Prichard

danlewi2 said:

Prichard said:

Prichard said:

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.

An update on mine... HSBC have now completed income verification & today asked Broker how much of our deposit is in the form of a gift. Anyone heard of this before??

Is any of your deposit coming from a gift and not your own savings?

Yes - But I have the letter than accompanies it. Not an issue, is it?

danlewi2

https://intermediaries.hsbc.co.uk/criteria/

The above has some details about source of deposit - as long as you meet the criteria can't see the issue.

Prichard

danlewi2 said:

https://intermediaries.hsbc.co.uk/criteria/

The above has some details about source of deposit - as long as you meet the criteria can't see the issue.

Just states that it must be from immediate family which it is. No idea why HSBC asked about it (nor does Broker) but will now be another 4-5 days for them to review Broker response. Sigh.

amybritt1987

Hi everyone,

I am a first time buyer and submitted my application yesterday 2/3/22.
On the timeline it currently states "decision obtained" 
This came after the full credit check was agreed to.
I uploaded all documents after this. I was wondering how can a decision be obtained before looking at any documents?

Should I be worried?

Thank you

Prichard

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.
1st Mar - HSBC request details of origin of deposit.
3rd Mar - Offer email received at 04:30 this morning.

kee89

amybritt1987 said:

Hi everyone,

I am a first time buyer and submitted my application yesterday 2/3/22.
On the timeline it currently states "decision obtained" 
This came after the full credit check was agreed to.
I uploaded all documents after this. I was wondering how can a decision be obtained before looking at any documents?

Should I be worried?

Thank you

I'd just ignore it. We had decision obtained on ours straight after we put the application in, but received update yesterday saying it'd been passed to underwriting. 

danlewi2

I would say you have a minimum two week wait before you get a decision.