Mortgage fee if no offer is made HSBC

magicmcone

Hi there,

We had started the mortgage application for a BTL property with HSBC. They already took £2k fee and doing the valuation next week.
Just wondering now what will be the situation if they undervalue the property or don’t finally make us an offer.
Will they keep the fee or part of it? 

Regretting now a bit to pay those £2000 upfront without making more questions…

Thanks in advance.

Ruben

kingstreet

It should be visible on the illustration. In section four, IIRC.

magicmcone

Thanks for the answer @kingstreet
It does specify that the completion fee is non refundable, but nothing about the product fee.
I guess I will try to be optimistic and take that as a positive.

Thanks again for your help.