Chances HSBC remortgage

FirstLadyKirkman

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 

Edi81

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

FirstLadyKirkman said:

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.

FirstLadyKirkman

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

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! 

FashionHeart

FirstLadyKirkman said:

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.

FirstLadyKirkman

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!