Chances HSBC remortgage

I know it's a crystal ball question but I'm nervous! Looking for a bit of reassurance on the below figures! 

Earn 74k between us.
10k CC debt between us (no other)
Neither have ever ever missed a payment 
Loan amount £180k
LTV 81% 

Broker has gone with HSBC but have heard they are notoriously ruthless and don't like any debt whatsoever.

Anyone have any experiences? 

Many Thanks 

Comments

  • Edi81
    Edi81 Posts: 1,427
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    On the face of it doesn’t look like much to worry about. 
    Trust your broker - they have a vested interest in getting you a loan. 
  • kingstreet
    kingstreet Posts: 38,615
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    I know it's a crystal ball question but I'm nervous! Looking for a bit of reassurance on the below figures! 

    Earn 74k between us.
    10k CC debt between us (no other)
    Neither have ever ever missed a payment 
    Loan amount £180k
    LTV 81% 

    Broker has gone with HSBC but have heard they are notoriously ruthless and don't like any debt whatsoever.

    Anyone have any experiences? 

    Many Thanks 
    Not in my experience. It looks fine. Assuming no dependents and a 20 year term, your affordability is over £300k also assuming £150 pm each for travel.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Thanks all we do have 2 dependents, but no childcare costs. 

    When we got our original mortgage I was only on 16k part time and have also been promoted, but then we didn't have any debt back then. Damn house improvements 😔 all CC is on 0% too though.
  • Kabazzzz
    Kabazzzz Posts: 103
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    We've recently had a mortgage offer with HSBC, combined salaries approx £94k, cc debt of £7k and 95% LTV.  

    As long as there's nothing unusual in your credit reports, you should be fine.  There were lots of queries but the process was straight forward, took 3.5 weeks from AIP to offer which, from what I've read, is a bit longer than normal.

    Trust your broker, good luck! 
  • I know it's a crystal ball question but I'm nervous! Looking for a bit of reassurance on the below figures! 

    Earn 74k between us.
    10k CC debt between us (no other)
    Neither have ever ever missed a payment 
    Loan amount £180k
    LTV 81% 

    Broker has gone with HSBC but have heard they are notoriously ruthless and don't like any debt whatsoever.

    Anyone have any experiences? 

    Many Thanks 
    I've been with HSBC for 2 years now since my first remortgage with them from Halifax.
    I did have a few debts at the time, but had to consolidate them and HSBC were fine with that and approved our mortgage.
  • Thanks all for your experiences. 

    Just had a look at our mortgage illustration and I got my LTV wrong in my original post! Forgot about the equity we have built up in the last 2 years. Turns out our LTV is actually 66%. Hoping that will help us out a bit! 


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