HSBC Mortgage application timelines

blue_top_red_trainers

Kabazzzz said:

Had our offer through this morning 🥳.

DIP 04/09/23

Application 04/09/23
Offer 27/09/23

Congratulations, worth the wait. 

Anibbleson

27/09/2023: DIP
28/09/2023: Application submitted online
29/09/2023: Application corrupted so resubmitted a new application
30/09-1/10/2023: weekend
2/10/2023: Surveyor commissioned for valuation
3/10/2023: Text received to submit ID and address checks via portal (for me, the second applicant, who isn't a HSBC customer) - this was useless as it turns out
5/10/2023: Access to property granted to valuation
5/10/2023: Asked by the Underwriting team to go into a branch to submit ID and address verification in person (for me, the second applicant, who isn't a HSBC customer) - had to queue at a branch for 2.5 hours for this.
6/10/2023: Valuation/survey report updated
7-8/10/2023: weekend
9-11/10/2023: Still waiting for ID/address checks to be process...

I haven't seen anyone mentioning having such painful process to have their ID/address verification done. I think I can become an HSBC account holder in less than 2 days without needing such a long time to get my ID/address verified. #tryingtostayzen

Anibbleson

Anibbleson said:

27/09/2023: DIP
28/09/2023: Application submitted online
29/09/2023: Application corrupted so resubmitted a new application
30/09-1/10/2023: weekend
2/10/2023: Surveyor commissioned for valuation
3/10/2023: Text received to submit ID and address checks via portal (for me, the second applicant, who isn't a HSBC customer) - this was useless as it turns out
5/10/2023: Access to property granted to valuation
5/10/2023: Asked by the Underwriting team to go into a branch to submit ID and address verification in person (for me, the second applicant, who isn't a HSBC customer) - had to queue at a branch for 2.5 hours for this.
6/10/2023: Valuation/survey report updated
7-8/10/2023: weekend
9-11/10/2023: Still waiting for ID/address checks to be process...

I haven't seen anyone mentioning having such painful process to have their ID/address verification done. I think I can become an HSBC account holder in less than 2 days without needing such a long time to get my ID/address verified. #tryingtostayzen

Further update:

12/10/2023: ID/address verification completed. Application passed on to Credit Controller.
13/10/2023: Mortgage offer received!

Akaseo

Hey all thought I'd post mine just as an indicator of the current climate. Was a pretty straightforward application to be fair so may not be indicative, £56k salary, no debt, purchase price of £85k (house needs a LOT of work) with a 10% Deposit.

Oct 10th - DIP Within 90 minutes of visiting broker
Oct 11th - Hard credit check on Experian
Oct 11th - Call from SDL wanting to carry out physical survey
Oct 13th - Survey Conducted (This was my biggest fear, the house is solid, 3 bed 2 reception with a huge garden but it is in really poor condition internally and requires new bathrooms, heating, kitchen etc so was worried the existing fittings might not meet criteria for functioning areas)
Oct 13th - E-Mail from Broker asking for proof of deposit
13th-16th Longest weekend of my life.
17th - Was contemplating calling the broker for an update, get a text message from HSBC saying congratulations we've sent you your offer via email please log in using thise code etc etc

7 Days start to offer.....purchase price cheap because purchasing from probate of family estate (less than half price of similar properties in area) no doubt helped but all in all very happy.

Good luck all.

[iD]

Just thought I should share my timeline as well for anyone looking for an indicator. 

29/12 - made the full application late in the evening (no broker)
01/12 - request for payslips and other bank statements (submitted the same day)
04/12 - message received informing desktop survey done 
04-12 - received the call from underwriter confirming residential status
04/12 - 5 mins after the call, offer offer received

have to say I’m pretty impressed with the speed. 3 working days is probably some sort of record. 

It was a pretty straight forward application with single employed applicant 

Newarm01

Akaseo said:

Hey all thought I'd post mine just as an indicator of the current climate. Was a pretty straightforward application to be fair so may not be indicative, £56k salary, no debt, purchase price of £85k (house needs a LOT of work) with a 10% Deposit.

Oct 10th - DIP Within 90 minutes of visiting broker
Oct 11th - Hard credit check on Experian
Oct 11th - Call from SDL wanting to carry out physical survey
Oct 13th - Survey Conducted (This was my biggest fear, the house is solid, 3 bed 2 reception with a huge garden but it is in really poor condition internally and requires new bathrooms, heating, kitchen etc so was worried the existing fittings might not meet criteria for functioning areas)
Oct 13th - E-Mail from Broker asking for proof of deposit
13th-16th Longest weekend of my life.
17th - Was contemplating calling the broker for an update, get a text message from HSBC saying congratulations we've sent you your offer via email please log in using thise code etc etc

7 Days start to offer.....purchase price cheap because purchasing from probate of family estate (less than half price of similar properties in area) no doubt helped but all in all very happy.

Good luck all.

Were your credit checks only done with Experian?

worthy64

Feb 26th - DIP 
Feb 26th - Full application
- Hard credit check on Experian
- soft checks on Transunion 
Feb 27th - Desktop valuation
March 13th - Mortgage offer, but the house price was not correct, offer price is higher than the actual. 
March 13th - The mortgage broker submitted an amendment  

Jami74

I'm on day 5 since full application made.
Received a text on day 2 from SDL surveys to say a desktop valuation would be done.
No documents requested yet. 
Hope something happens soon.

Jami74

Mar 15th - DIP (Friday)
Mar 17th - Full application (Sunday)
Mar 18th - Desktop valuation text received (Monday)
Mar 26th - Additional documents requested (Tuesday)
Mar 30th - Offer documents received (Saturday)

13 days from full application, includes 1 bank holiday and 3 weekend days.

confusedftb

Applied with HSBC via a broker

Feb 22 - Application made full application 
Feb - Apr - Lots of back and forth asking for information and supporting documentation
Apr 9 - Offer received 
Apr 16 - Amendment form submitted due to 1st seller pulling out because of delay and he losing faith.
April 17-18 - Latest bank statement requested
April 22 - Valuation done and passed. seems like a desktop valuation and no visit was arranged. 

Waiting and praying hard to get the updated offer asap. Currently showing 11 working days to review amendment forms.