HSBC Mortgage application timelines

kandfs_mam

@4thLaw how did you get on?

4thLaw

@kandfs_mam thanks for sharing that number.

I contacted them but unfortunately because I applied via a broker they are not able to help directly. I am extremely disappointed with my broker at the moment and I am not sure they are chasing on my behalf as they should be but I will have to keep applying pressure in that direction.

Jachieboy

My timeline...

Mortgage offer received 13 w/d after application. 

16 June mortgage submitted by mortgage broker. Broker had my P60 and three months payslips. After submission, HSBC requested one months bank statement which I provided on the day. Hard search for the mortgage application on Experian report 

21 June soft search run by lender on Experian report 

24 June soft search run by lender on Experian report 

28 June questioned on overdraft use and current account balance

29 June replied questions by lender

1 July soft search run by lender on Experian report

5 July Offer received!

Wishing the best for your application. 

Esiuol_1

Hi ,

Anyone else currently applied with HSBC?

We have gone through a mortgage broker...

Full application submitted 15/7 and Automated valuation done the same day & everything was fine.

Just waiting now, not heard anything as yet & not sure how long it may take, everyday seems like a week when you are waiting for news! 

bernadettemartina85

Esiuol_1  Did you get your offer. We submitted our application on the 7th of July and still waiting for the offer. Would be interested to know your timeline? 
Timeline:
7th July - Application Submitted
7th July - Experian Soft Check 
12th July - Valuation done (At premises)
13th July - Experian Hard Check 
14th July - Valuation at £0 request for a structural report 
22nd July - Structural Survey completed (Nothing major, dodgy small side extension / garage conversion and some lintels missing)
4th August  - Structural report paperwork received and sent to HSBC for review 
10th August - HSBC request cost to fix lintels 
10th August - Structural Engineer updates report with cost of £5k - Sent to HSBC so the valuer can review
17th August - I chased broker for an update, they have confirmed the valuation has been revised and property valued at the purchase price
Now we are just waiting!!! Impatiently! 

Esiuol_1

bernadettemartina85 said:

Esiuol_1  Did you get your offer. We submitted our application on the 7th of July and still waiting for the offer. Would be interested to know your timeline? 
Timeline:
7th July - Application Submitted
7th July - Experian Soft Check 
12th July - Valuation done (At premises)
13th July - Experian Hard Check 
14th July - Valuation at £0 request for a structural report 
22nd July - Structural Survey completed (Nothing major, dodgy small side extension / garage conversion and some lintels missing)
4th August  - Structural report paperwork received and sent to HSBC for review 
10th August - HSBC request cost to fix lintels 
10th August - Structural Engineer updates report with cost of £5k - Sent to HSBC so the valuer can review
17th August - I chased broker for an update, they have confirmed the valuation has been revised and property valued at the purchase price
Now we are just waiting!!! Impatiently! 

Hi,

Yes we did, we got our offer on 4th Aug so 3 weeks altogether - seemed like the longest 3 weeks ever!

15th July - mortgage application submitted via broker.  Automated valuation same day which passed, no need for physical valuation.


23rd July - HSBC requesting 4 extra payslips for my husband.


27th July - HSBC requesting 1 more payslip (my mistake as I didnt include this previously). Also questioned why my husbands income varied each week.


4th Aug - HSBC asking about any costs relating to a house we recently owned & rented out.  Replied with evidence stating the house was now sold and mortgage paid off.  Few hours later we received a text and email with our mortgage offer!

Only 1 soft credit check showing on our credit file which is from the mortgage broker, no hard or soft checks showing from HSBC.

I hope you get your offer through soon! 

VanitasW

Hi guys

I've had my offer on 19th of August, which I accepted. It's for extra borrowing. 

How long do you think it takes from then?

Fighter1986

FTB 95%LTV

Dip 23/7
Full application 23/7
Hard search 24/7
Documents requested 25/7
Documents provided and case assigned to underwriter 26/7
Called me to ask questions about salary and savings 31/7
Valuation confirmed as done and valued at offer price 2/8

Now we wait... It's a little nerve-wracking as I'm asking to borrow 4.483x salary and have a loan outstanding being repaid at £385/month. Total £45K credit card limits too although only one has a balance and it's a small balance, and interest free.. £60k basic salary. 

Their affordability calculator and DIP both said it was OK, hopefully they won't reduce their income multiple due to the loan.

🤞🤞🤞🤞🤞

Fighter1986

06/08 "Manual Referral" appeared on Application Tracker again but no update or offer of mortgage

Update:

06/08 Offer of Mortgage made for full amount requested with a maximum lend slightly higher than requested. 

Very happy they didn't reduce their offer based on my loan repayments, YBS decided to reduce their offer by nearly £40,000 because of my student loan deductions and Nationwide were similar at DIP stage.

HSBC have been by far the most willing to offer a 4.483 income multiple despite outgoing finance payments and large pension contributions.

I suspect choosing a 35 year term and 5 year fix helped. Ofc, I have every intention of making the most of my overpayment allowance. 

Thank you HSBC, now we just need to make sure we can satisfy whatever requirements they will have surrounding the Solar Panels and associated leasehold... 

Bubblebutt9

We are in the process of moving home and have applied with HSBC through a broker. Thought I would just add our timeline so far; 
25/8 - DIP received and full application submitted 
The broker then wanted lots more information but HSBC hadn’t looked at it at that point but I think they were collecting information just in case it was requested and they had it to hand. 

11/9 - full offer received via text and email. 

So that’s 17 days from application to offer.  Very impressed with how quickly HSBC have responded but I do believe it’s because our broker put in lots of work beforehand.