HSBC mortgage referred to underwriters

TXC

Hi all

FTB here; just had my mortgage interview with HSBC (who i bank with) and the application has been referred to underwriters so I'm a wee bit stressed out! My hsbc MA said it is nothing to worry about and completely normal, and in his view having done the job for X amount of years he was 90% sure I would be absolutely fine. I just wanted to get other people's experiences with being referred to underwriters

I had a mortgage approved with HSBC in the past and it didn't go to underwriters (unfortunately house was not structurally sound so didnt progress) - this mortgage is for around 20% more though cash wise so I'm assuming thats why it was flagged

Can anyone shed any light on this process for me and if I should be worried?

jst1986

I put my application in on the 28th and it went to the Underwriters and still waiting for a reply. On my last chase the turnaround is apparently over two weeks at the Underwriting stage presently so you might be in for a bit of a wait. 

TXC

jst1986 said:

I put my application in on the 28th and it went to the Underwriters and still waiting for a reply. On my last chase the turnaround is apparently over two weeks at the Underwriting stage presently so you might be in for a bit of a wait. 

Oh dear! My advisor advised 24 - 48hrs ! thanks for the heads up

luckbox

Underwriting is nothing to be concerned about, just be ready if they ask for an extra document or two. 

FashionHeart

Nothing to worry about it's normal as they need to be thorough about your financial background.

TXC

MA just called - all approved by the underwriters! Now just have to hope that the valuation comes in ok! 

aoleks

not to be a smarty pants, but every mortgage (every financial product, in fact) goes to underwriting...