To hate HSBC with a passion?

[lainey8]

So, trying to move house, to a house not a flat, because 29 weeks pregnant and not relishing 2 flights of stairs with baby & buggy.

Got a buyer end November, found a house early December, applied for mortgage and instructed solicitor straight away.

HSBC approved the mortgage mid Jan, following valuation survey. Ready to exchange we planned to move mid Feb.

THEN HSBC have this new policy to insist countrywide do all their conveyancing. So despite our solicitor having done everything for the purchase we have to pay countrywide to do it again. Then we wait. And wait. 3 weeks later Countrywide send this long list (44 items) of mostly unnecessary stuff. Things like insisting on a chancery survey at £17 plus an expensive premium if it comes back positive, instead of a £10 indemnity.

One final point that our solicitor says is pointless and any normal conveyancer would move without has now been waiting on Countrywide for a decision for 4 days. We aren't allowed to contact Countrywide only HSBC. But HSBC won't tell us anything, promise to call back but don't.

We are now about to lose our buyer and have the whole thing fall through and HSBC just tell us it's in the system. Then promise to call back.. But don't.

If it wasn't for this random HSBC policy we would have moved as planned 2 weeks ago and be happily in our new house.

I so desperately wish we had gone with anyone but HSBC......

[iceandsliceplease]

YANBU.

I utterly despise HSBC too, for too many reasons to go into here.

But yes, they are utter, utter bastards, with stupid policies that their own employees can't explain.

[Kaloobear]

Oh God...we're getting our mortgage through them...hope they sort things out for you v soon.

[lainey8]

Kaloobear, abandon hope all ye who enter any pact with HSBC.. Our solicitor has now agreed a company policy not to do conveyancing on any mortgage involving HSBC. Too much stress.

But good luck, really hope you get a better experience.

[TheOutlawLauraPalmer]

YANBU.

I closed all of my accounts and switched banks - that's how much I hate HSBC. And believe me, they made it ridiculously difficult to remove MY money from their dirty evil corporate clutches.

[drcrab]

We had a problem with Hsbc and mortgages too. We'd been loyal customers for 18+ years and anyway dh got made redundant just as we were moving. Never mind- we told them. They said that's ok we'll recalculate etc. oh we can give you a mortgage for just 10% less than what we initially quoted you. Yay!

Then when everything was going through they said we've got to send the paperwork to underwriters. Oh shit! We can only loan you £137k!!! (which was way lower than what they initially quoted us). And which would not have got us anything. This even though we had a 25% downpayment. And a high single income.

We walked into Halifax which approved our mortgage immediately with dh as the dependent. And result - our repayments are actually £100 cheaper compared to what Hsbc was going to offer us!!
Yanbu.

[thegreylady]

I hate banking with them especially if you try to do stuff by phone-I swear they choose their phone staff on the strength of having very quiet voices which are impossible to understand!

[VacantExpression]

YANBU Thats shocking :-(

[citruslemon]

I just had an argument with HSBC on the phone this morning - they are utterly ridiculous in so many ways and treat you like you're thick! Two months into opening my account and I still can't even log into internet banking and seem to go around in circles when I ring them! Have been with Natwest 14 years and never a problem. If HSBC don't sort themselves out soon then I will be closing my account.

[NarkedPuffin]

THEN HSBC have this new policy to insist countrywide do all their conveyancing

Is that even legal?

[Northernlurker]

HOw can they insist you use their solicitors?

We have banked with them since university but not impressed atm.

[NarkedPuffin]

Apparently it is legal

Here
Here

[lainey8]

Narkedpuffin - the law society are challenging it but so far seems they can do what they want. So much for 'too much red tape stopping business'.

Today's plan is to go to the branch and not budge until we at least have an answer!

Sorry to see they have such form in the utterly rubbish customer service stakes.

[NarkedPuffin]

I hope you get a result.

[lainey8]

Today they just sent through another list of things they needed. All of which we had already provided. I despair.

[survivingwinter]

YANBU and sorry you've had such a nightmare OP.

Also planning to switch accounts when I get around to it - I can't stand HSBC and they turned us down for a mortgage a few years ago with their utterly ridiculous criteria.

[flagnogbagnog]

Can you not go elsewhere for a mortgage? Some mortgage companies can sort you out very quickly indeed. Tell HSBC to shove it up their arse!

We moved from them about 18 months ago because of their arrogance. Never looked back.

[Glittertwins]

Ouch, we never had any of this when we switched mortgages to them 5 years ago, got extra for loft conversion or remortgaging again with them this time and avoided the arrangement fee. It was Nationwide that messed us around a bit. That said, a colleague did get messed about when she did their mortgage with them. Sounds like I've been lucky.

[MsVestibule]

Grr, HSBC. Two years ago, after 1.5 hours on the phone giving all of our financial information, they approved (in principle) a £150k interest only loan, even though we only asked for £120k. On that basis, we put an offer in on a house, and sent in all the paperwork to them. Even though EVERYTHING, i.e. all our incomings and outgoings matched up exactly with the info I'd given over the phone, and there were no dodgy historical debts or missed payments, they wouldn't even give us £120k, because they thought we couldn't afford the repayments plus the repayment vehicle. And that was four weeks after we'd sent everything in. Their prerogative, but what is the bloody point of giving an agreement in principle and then not honouring it, when nothing has changed in the meanwhile?

Luckily our mortgage broker found us one with Nationwide within 24 hours. Also, the vendors were desperate to sell, so no danger of them pulling out!

Sorry, that was long. Hope no one thinks I'm still bitter about it .

[Glittertwins]

No, just cautious. I need to call them about reducing the amount we want to borrow as we have a reasonable lump sum to knock off before the new fixed term...hopefully they won't pay silly beggars with me.

[cocoachannel]

YANBU, also having problems with them. They are either all incompetent or liars.

[beezwax]

Bump

OP, YADNBU

HSBC did exactly the same with me when I applied for a mortgage. It took me about a week to calm down and I'm getting angry just writing this post...Thing is, we have used our solicitor for many years so we really wanted to stick with her. We have a good relationship and never had issues etc.

However, when I mentioned to her what HSBC had said she told me that I could let the Law Society know about it as they are gathering evidence of unhappy customers and plan to challenge HSBC. The email is [email protected]

They also gave my solicitor a letter template that I can send out to our MP and complain (not quite got around to that yet...must admit..)

How DARE HSBC tell me what solicitor I can use?

[FairPhyllis]

YANBU. They are useless. Supposedly you are able to set up an overseas HSBC bank account with them before you move abroad, but they didn't complete the account opening process and didn't even bother to phone me to let me know. I found out the week I moved that I wasn't going to have an account when I arrived. World's local bank HA HA HA. When I move back to the UK I am going to switch my UK current account to NatWest.

[controlpantsandgladrags]

YANBU. We closed our HSBC accounts and moved our money elsewhere. Would never deal with them again.

[lainey8]

Thanks beezwax, will definitely look into sending supporting evidence.

Today at 4pm our buyer issued an ultimatum and so we exchanged on the sale. At that point we thought we were on the last leg and there was still a fair chance approval would come through today.

HSBC knew nothing and countrywide weren't responding.

Then around 5 pm countrywide came back with a bunch of pointless questions they could have asked weeks ago.

So looks like we will be homeless for a while.
I'm going to start from scratch with a different mortgage provider on the offchance they will still be quicker than HSBC.

May need to eat my own bodyweight in dairy milk first though!

[KittyAnne]

Countrywide are also very shit..!
Their staff have to be the thickest people in the entire world. They must recruit them from people who failed TOWIE auditions.
It beggars belief.