when will my product switch be "activated"?

johnhenstock

hi,

new user here. we're on a mortgage with HSBC, 2 years fixed at 1.94%, coming to an end in December. we were given the option to select a new fixed product a while back, without any additional checks.

we went for a 5 year 4.3% fix, which works out really well (turns out the house also increased in value, nearly 10% in 18 months).

we did this online, applications status is "application submitted", but I'd like some confirmation of that. when can I expect HSBC to confirm my new product? current mortgage ends 31 November.

thanks,
John

SensibleSarah

You didn't say how long its been since you did the online application. I can't speak for HSBC as I'm with a small regional building society lender, but when I do a product switch with them, they always confirm by email within a couple of weeks that it's been accepted and will be activated when my current fix ends. 

johnhenstock

three and a half weeks today, so not the end of the world, we still have until November, but I'd sleep better if I knew it's been accepted, though there are no checks, equity is there, nothing else changed.

FashionHeart

johnhenstock said:

hi,

new user here. we're on a mortgage with HSBC, 2 years fixed at 1.94%, coming to an end in December. we were given the option to select a new fixed product a while back, without any additional checks.

we went for a 5 year 4.3% fix, which works out really well (turns out the house also increased in value, nearly 10% in 18 months).

we did this online, applications status is "application submitted", but I'd like some confirmation of that. when can I expect HSBC to confirm my new product? current mortgage ends 31 November.

thanks,
John

I received mine as soon as I submitted and confirmed everything online.
I'm also with HSBC and asked them to confirm everything with their mortgage team, so maybe you should contact them directly about this.