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AIBU?

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Original poster

To hate HSBC with a passion?

108 replies

lainey8 · 28/02/2012 21:22

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......

OP posts:
Katiekitty · 01/03/2012 19:17

OP - I feel your pain

Have been in tears at HSBC - they saw fit to call a team of observers to watch in on such an 'interesting meeting'

Have had a house sale royally effed up by Countrywide - who lied about the wearabouts of our purchaser on behalf of the purchasers other lawyers. Still don't know why today.

I have no advice to give, but hope you come through this horrible ordeal and do make a complaint afterwards.

You WILL feel a sigh of relief soon. It's impossible to feel it now, however, you will come through this.

Keep posting

Ach ((((hug))))

Glittertwins · 01/03/2012 21:06

This is staggeringly bad. I called HSBC this morning to sort out the reduction of loan and our lump sump payment. Made notes, seemed sorted. But after reading this, I decided to call back at the end of the day to check my requirements had been noted and it was being dealt with. So far, so good...let's see what happens come March 29

loveulotslikejellytots · 01/03/2012 21:41

HSBC were crap when we tried to move house as well. DH had a house and his Mortgage with them. We found a house valued at £160,000 so decided to go and see HSBC about getting a mortgage before putting his house on the market. We went in and booked an appointment etc. and saw them the following week. We had a deposit of £40,000 if DH's house sold at the minimum valued so mortgage needed was £120,000

Fine, we got a mortgage in principle from HSBC for £160,000. This was £40,000 more than we needed and they did say to us that the actual figure may change when the finer details were ironed out. But we thought as they had provisionally agreed a figure £40k more than we needed we'd be fine (BTW they looked at payslips and everything to do the mortgage in principle it wasn't just a blind estimate!).

We put an offer in for the asking price on the house (house was reduced by a lot as sellers wanted a quick sale). They accepted straight away. We went back to HSBC to do the mortgage application and the offered us a total of £98,000.

I came out of there in tears. They asked if we had any savings to make the deposit up with. We had some but not £22k!!!!!

We went to a mortgage broker who got us a mortgage for the full amount needed within a week. I have had nothing but trouble with HSBC. Is it too late for you to change?

5ofus · 01/03/2012 22:17

I might be the only person here without a gripe with HSBC. I like them so much I've refused to switch banks even though DP works for their competition. Everything is with them.

I'm keeping fingers crossed I don't have to have any dealings with them and mortgages any time soon!!

Good luck OP. Can you vote with your feet?

Glittertwins · 01/03/2012 22:23

So far, we also don't have a problem at present. They did stuff up mortgage 5 yrs ago when they took it over from Nationwide against everything we'd stated re early redemptions but it was sorted after I gave them both barrels down the phone and forced them to climb down and correct.

shockers · 02/03/2012 16:19

Well don't bother trying to complain via email... they just completely ignore you Angry.

Original poster
lainey8 · 05/03/2012 08:24

Fingers crossed we exchange on the purchase today.

Would have been Friday but countrywide took 5 hours to pick up the phone and confirm we were approved! Very frustrating, we were being told by HSBC all was good and countrywide just needed to call our solicitor.

But, hey ho, it's looking more promising.

Once the money is through we will be launching such a complaint (already got about 10 in the system!)

Thanks for all the support, we really would not be using them if we hadn't thought we were nearly there for the last 4 weeks.

OP posts:
Glittertwins · 05/03/2012 08:36

Good luck :)

gettingtogrips · 05/03/2012 08:48

Marking my place as we have just realised this applies to us. Hoping to exchange in the next week but our solicitors are finding HSBCs solicitors impossible.

NeilsBoar · 05/03/2012 09:09

Nationwide also do this to some extent and have a 'panel' of approved solicitors - when we did the application the advisor told us we could probably use our own, then 8 weeks later just before the mortgage is approved we are told we have to change solicitors to one of their 'panel'.... Thankfully the solicitors we found who were on their panel were very good, but it was still annoying (and time consuming and expensive) to have to change.

Original poster
lainey8 · 06/03/2012 09:08

Woo hoo we completed! We are not homeless. We are moving Friday, which presents a whole new set of logistical challenges but all of them end up in a new home and able to indulge in a little nesting.

Sorry to sound miserable getting to grips but I would recommend you manage your buyers and sellers expectations a bit. From mortgage funds approval to exchange took us about 7 weeks and that was after our solicitor had done everything once already in December and with us chasing daily/ 3 times a day. If people know it may take a while longer than normal they may be less pushy and less grumpy when it takes longer.

Hey, maybe we just got unlucky and all will be fine. I hope so for your sake. Best of luck.

OP posts:
pinkyp · 06/03/2012 09:09

Yanbu

flapperghasted · 06/03/2012 09:22

We've never had any problems with them and they supported us when we were really struggling financially, but that was years ago. Our mortgage is with them but we're heading for the tail end of it, so haven't had much reason for dealing with them over it. I'm dreading the day we decide to upsticks and move as mortgages seem to be nothing but trouble these days!

I hope you managed to sort this out OP. Good luck!

timetoask · 06/03/2012 09:29

Thanks for letting us know, will make sure I avoid them when getting a mortgage, although happy in general with their customer service for savings, etc.

secretary · 06/03/2012 09:50

I hate that bloody smartkey thing. I would leave but I am unable to pay off my overdraft too lazy

only4tonight · 06/03/2012 14:10

Oh FUUUCCCKKK! Thanks for the heads up. Had no idea about this despite having our aip with them.

I need to avoid countrywide. Their estate agents make my ears want to bleed god help me with a solicitor!

Glittertwins · 14/03/2012 09:18

Right...I live to regret my previous positive comment.

I wondered why my March mortgage payment was higher than the Feb one when it was supposed to be fixed. The imbeciles had decided to put me on SVR instead of my fixed rate. Now I have to wait for my complaint to go in before THEY decided if they will pay ME back the overpayment that they took Angry

Glittertwins · 14/03/2012 13:55

Update- I got a call back from the complaints dept within 90 mins. Very apologetic and I was totally correct / they were wrong. All money has now been sorted out and apparently I have some red wine coming as well. Roll on the next battle of the 31st March when I have to do the next bit!

missmaviscruet · 19/03/2012 13:27

This reply has been deleted

Message withdrawn at poster's request.

Glittertwins · 19/03/2012 14:08

I got a letter on Friday, dated Weds after our conversation about the wrong interest rate and again had the wrong rate! I called up again & got the same helpful chap who put in my complaint. He found a copy of the incorrect letter and then also another letter dated Thursday with the correct rate on it. Needless to say, that letter has not arrived here yet.

lilylou2006 · 30/03/2012 13:51

Does anyone have a solution to the HSBC mortgage issue ie how to speed them up? I am an HSBC customer but have had the good sense to get my mortgage for my new house elsewhere. My buyer hasnt however! He has his own solicitor but due to the new HSBC rules he also has to involve Countrywide. We have had the contracts signed for weeks but Countywide will not give his solicitor permission to exchange as they are too busy to look at the paperwork. We are just sitting waiting. We are buying a new house and had a 28 day to exchange contracts. We are about 40 days past this deadline and now the builder is getting twitchy so who knows if he will pull out. We also have a 10 day deadline from exchange to completion. How can Countrywide and HSBC be holding people up like this. Take a look at Countrywide's website. Apparantly they pride themselves on customer service and fast transaction times. What a joke!!!!

jenfraggle · 30/03/2012 14:13

Be very careful when having anything to do with Countrywide. We used them as an estate agent and also used their mortgage advisor. Very poor service and entirely unethical. I had letters from them saying that they had arranged our home and contents insurance despite us never requesting it and they had set up direct debits even though we hadn't given them bank details. They took the information off a cheque we had given them. Good job we checked with the bank and were able to cancel them before they went out. I know someone else who used a different Countrywide mortgage advisor and the same thing happened to them so not just a one off.

Dawndonna · 30/03/2012 14:22

It took me from September until March to sort out a bloody mortgage with HSBC.

wildswans · 30/03/2012 17:08

Trust me, HSBC can't be worse than Barclays. They are so appalling that I've sued them twice and recovered £8k on each occasion. I would say more but I'm bound by a confientiality agreement. I've been with RBS as my main bankers for years with no problems but can't say I'm filled with joy at their takeover by Santander....

Glittertwins · 31/03/2012 08:17

Agh yes, Barclays. My mum has had several problems with them over power of attorney accounts.
I have round two of HSBC this morning. Fingers crossed. The wine that they sent as an apology for messing up last time was a joke and I am going to tell them that. It was dire. Anything that has "vin de table" is going to be the worst type of plonk ever........