HSBC Mortgage application timelines

Pinonze

aoleks said:

Day 1: AIP agreed
Day 1: offer agreed in principle (subject to valuation)
day 6: valuation (in person, Saturday)
day 6: final offer (within 15 min of valuation)

in other words, without the valuation, it would’ve been done in 1 working day, and that’s literally days before the end of the stamp duty holiday.

nice one, you are lucky. was this with HSBC?

aoleks

Pinonze said:

aoleks said:

Day 1: AIP agreed
Day 1: offer agreed in principle (subject to valuation)
day 6: valuation (in person, Saturday)
day 6: final offer (within 15 min of valuation)

in other words, without the valuation, it would’ve been done in 1 working day, and that’s literally days before the end of the stamp duty holiday.

nice one, you are lucky. was this with HSBC?

Yup, they were incredibly quick.

BlondBoy

Applied direct via their website: Sunday 26/9

Quick call received to clarify some details: Tuesday 28/9

Mortgage offer arrived at conveyancer and visible in HSBC dashboard: Thursday 30/9
Mortgage offer confirmation email received: Friday 1/10

Outstanding, in other words. Very impressed.

Jamie_86

Hi all, 

I'm currently having an agonising wait with HSBC and have been following this thread so thought I'd bring it back to life in case anyone else is having similar issues at the moment. My timeline is:

5 October AM - AIP via broker accepted
5 October PM - Full application submitted the same day by our broker
8 October - Valuation came back £50k under our accepted offer. 
11 October - We agreed to make up the difference so amended our application and submitted.
19 October - Additional bank statements requested
26 October (Today) - No update at all from HSBC despite several chasers from our broker, all we are getting back is that "it is still with the underwriters."

Now, I accept that our situation is slightly unusual in that my wife is a self-employed dentist who did take some self employed income support last year when all dental surgeries were told to shut down for three months and I appreciate that can take more time but this feels like an unusually slow timeline. Is anyone else experiencing equally slow decision making at the moment? 

Jamie_86

I just had confirmation that our mortgage was approved today so panic over!

luckbox

I went direct to HSBC this month and even with two separate requests for additional documents it took 2 weeks in total to receive the offer

Jessiecacar

I have gone via a broker.

DIP 01/09/21
offer accepted and application submitted 26/10/21
valuation done by HSBC 29/10/21
Today 11/11/21 requested a further 4 days of bank statements,
It is taking forever, currently on day 16.

jst1986

For me:

DIP 14th October 
Offer Accepted 21st October
Mortgage Application 22nd October
Valuation 26th October
Amend application following valuation 28th October.

Nothing since. 

Jessiecacar

Jessiecacar said:

I have gone via a broker.

DIP 01/09/21
offer accepted and application submitted 26/10/21
valuation done by HSBC 29/10/21
Today 11/11/21 requested a further 4 days of bank statements,
It is taking forever, currently on day 16.

I am now on day 21 and still no news 😞

jst1986

My offer has come through today having applied on the 22nd so hopefully yours isn't too far behind.