HSBC Mortgage Application Timings?

Rosy_Apple
Rosy_Apple Posts: 152 Forumite
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in Mortgages & endowments
Hi all,

Has anyone else applied for a mortgage via HSBC, would you mind sharing your timeline with me?

I am trying my best not to be a nervy FTB- but it isn't going very well!

Many thanks,
RA
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Comments

  • sn1987a
    sn1987a Posts: 453 Forumite
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    I have just applied also, this is my timeline so far:
    4/3 brought statements and payslips to hsbc
    9/3 they received them and asked for a page missing
    13/3 application sent to underwritters

    I called HSBC today and I was told that I will have an answer by the end of this week/beginning of next. Did you try to call hsbc? At what stage are you?
  • Rosy_Apple
    Rosy_Apple Posts: 152 Forumite
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    Thank you for replying.

    We submitted our application via a broker on Friday, he said we passed the initial credit checks (I assume this would be the DIP) and that he submitted all our paperwork straight after. He expected o hear more in the next 48-72 hours, I wasn't sure if this included weekends.

    I am truly being a nervy FTB, it's a fairly high LTV (90%) which is adding to the tension!

    Good luck, I will keep my fingers crossed for you.

    Thanks again.
    RA
  • sn1987a
    sn1987a Posts: 453 Forumite
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    The HSBC DIP is a soft credit check and I think that a proper one is done when you submit a full application. Anyway, it seems we are at same point. I hope you get some great news soon!
  • dgtazzman
    dgtazzman Posts: 1,140 Forumite
    Think it was 12 days from online application to formal offer for me last year with HSBC, that included a bank holiday weekend...
  • Rosy_Apple
    Rosy_Apple Posts: 152 Forumite
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    dgtazzman wrote: »
    Think it was 12 days from online application to formal offer for me last year with HSBC, that included a bank holiday weekend...

    Thank you- that is quicker that I expected. We really need to get our valuation booked as the EA are forcing us into a bit of a race to do this. We are trying to ignore this and just move forward as we need to but we can't help but feel some pressure!
  • Rosy_Apple
    Rosy_Apple Posts: 152 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    As an update- my broker has just let me know that the Underwriters queried some entries on our bank statements yesterday. He replied immediately and we are hoping to hear back soon.

    Keeping my fingers crossed!
  • sn1987a
    sn1987a Posts: 453 Forumite
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    Don't book the valuation before you get the mortgage offer! This is at least what HSBC told us, otherwise you may loose the money.
  • Sheep
    Sheep Posts: 219 Forumite
    If you dont mind me asking what entries was it on your statement? Loan payments etc or was it every day spending that they were questioning? Im thinking of applying in next week or so
  • Rosy_Apple
    Rosy_Apple Posts: 152 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    sn1987a wrote: »
    Don't book the valuation before you get the mortgage offer! This is at least what HSBC told us, otherwise you may loose the money.

    Thank you- I wouldn't even know how to :) Just super keen for things to speed up.
  • Rosy_Apple
    Rosy_Apple Posts: 152 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    Sheep wrote: »
    If you dont mind me asking what entries was it on your statement? Loan payments etc or was it every day spending that they were questioning? Im thinking of applying in next week or so

    My broker dealt with the questions without speaking to us but I understand that it was because we moved large amounts of money around in one day. It had to come from my husband's company account, to our current account to our savings account. So a bit convoluted.

    Hope this helps.
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