Nationwide/HSBC Additional Borrowing Process

IAMIAM

Has anyone any experience with these lenders?
Is the process pretty straight forward if you don’t need a valuation and are within the LTV you have. Can it be done all online and signed online and a date picked to drawdown…ie when it’s available ie asap. 

K_S

IAMIAM said:

Has anyone any experience with these lenders?
Is the process pretty straight forward if you don’t need a valuation and are within the LTV you have. Can it be done all online and signed online and a date picked to drawdown…ie when it’s available ie asap. 

@iamiam I don't know how it works direct but for the intermediary process, as long as you meet the eligibility requirements (see below) and the cash is for an acceptable purpose, it's usually pretty straightforward.

If the property was re-mortgaged/purchased in the past year, there can sometimes be issues if the lender's charge has not yet been formally registered against the property, due to Land Registry delays. Anecdotally in broker forums, I've heard of cases where the client bought a property more than 18-20 months ago and the charge hasn't yet been registered, causing problems for re-mortgages where the clients are coming to the end of a 2 year fix.

Nationwide - https://www.nationwide-intermediary.co.uk/products/additional-borrowing

HSBC - https://intermediaries.hsbc.co.uk/criteria/?filter=further+advance