Where's HSBC's 5.39% 5-year fixed gone?

charlieandlola2007

Hi

I hope someone can help. I applied for an HSBC 5.39% 5-year fixed rate last Thursday and the Mortgage Manager said that the application was approved subject to valuation. I haven't heard anything since (the MM's gone on leave) but now I notice that this deal is no longer on HSBC's website.

Does anyone know if it's been withdrawn?

Will I still be able to get this deal? (I haven't paid the arrangement fee yet)

Please help me with my panic!

MortgageMamma

Hi

Did you go through the full application process with the adviser or just do a quick check to see if you passed their credit score?

charlieandlola2007

I went through the full application. He took copies of all my paperwork and said that the application was approved subject to valuation.

Hemel_2

if you were issued a "kfi", you should be okay. can you speak to anyone else to ascertain where you stand?

charlieandlola2007

I've tried. I went back into the branch on Monday and another Mortgage Manager said that the valuation hadn't taken place yet but I should expect to receive an offer letter in the next day or two (that should have been yesterday or today) but I haven't. I went back into the branch today but there was no-one available. The people on the telephone line for HSBC mortgages say they don't know anything about mortgages, they just take messages.

Should I take my arrangement fee in tomorrow even thought they've not asked for it yet?

charlieandlola2007

Oh, I forgot to mention that the Mortgage Manager said I had an A1 approval - don't know what that means.

MortgageMamma

if you did a full application and paid a valuation fee then you should have secured the 5.39 product.

charlieandlola2007

I didn't pay a valuation fee as this was included in the remortgage package. They did say that they had set the wheels in motion for the valuation and they did take my solicitor's details.

There is an arrangement fee of £999 which I haven't paid yet. Should I go in and pay it before the MM comes back from holiday?

MortgageMamma

no you should be able to add the arrangement fee to the loan. I don't think you have anything to worry about here, I don't deal with HSBC as they do not accept broker business but if you went through the full application I am 99% sure that the product would have been booked for you.

charlieandlola2007

Thank you for your help. I'll post with the news when I find out what's happening.

Woodgnome_2

They have pulled this deal as of today.

I am also awaiting approval.
I posted earlier on this today. According to the Mortgage manager at my local Hsbc the Fee needs to be paid by latest tomorrow to secure the 5.39% deal. The fee cannot be added to the mortgage. My wife took a cheque for £ 999 in this afternoon. A big problem now for me is I will lose the £ 999 if the mortgage application is turned down.