HSBC Mortgage Application - Timescales and IT Issues

pjp93

My fixed rate term is expiring so I applied for a remortgage to HSBC as HSBC had the best rate at the time of applying. I applied through a broker who submitted my application with bank statements, payslips etc.

The timeline of application is as follows:

Application submitted: 14 June 2023
In-person Valuation: 21 June 2023 

Since then we haven't heard much at all and the broker has been diligent in chasing HSBC and escalating the delay with bank contacts. Last week, the broker was told that the application was approved but HSBC was having IT issues and was unable to issue the paperwork to me and my solicitor. The broker was told that the paperwork would be available this week, but nothing has been received so far. Has anyone else had this issue with HSBC recently?

I'm a fairly low risk applicant (LTV of about 68%, decent salary, no dependents or other debt), but the recent news around rate increases going up to 6.5% average is causing me to worry that I may lose my lower-rate deal!

Thank you.

machiavellie

I made this thread when I submitted my HSBC application. It seems they take a few weeks to fully approve stuff. I submitted directly though and didn't use a broker so can't comment on IT issues.