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......

I really don't know how anybody ever gets a mortgage from HSBC.

I earn considerably more than the average, and my credit rating is excellent on EXPERIAN (ie 999, can't get higher). I applied for a mortgage through HSBC, was approved in principle, and then after a long telephone assessment interview of 2 1/2 hours in which every single incoming and outgoing was dissected, it seemed that the mortgage we wanted was easily affordable. 4 weeks after I had submitted my supporting documents and had chased the underwriter several times, he came back to me offering 90 grand less than was originally agreed. No chance of appeal and no real explanation. This means we have almost certainly lost the family home we wanted.

The underwriter seemed to actively enjoy withholding the mortgage..... it was really disconcerting - talk about somebody enjoying power over others!! He made comments like, 'Can you prove your current income?' When I said I could easily prove my present income through a letter from my accountant, he said that would not be acceptable as it had not 'gone through revenue and customs.' I actually ended up saying, 'So you would like me to travel into the future to next January and get the accounts I would have submitted by then to prove my present income.' Just laughable.

My experience of HSBC has been very bad. All I can surmise is that they are only prepared to offer mortgages to clients who could not possibly need one. I even asked how much I would need to be earning before they would consider offering me the mortgage I requested. The monthly payments on the mortgage I wanted were 40% of my monthly net income, and were still affordable to me if interest rates went up 5%. I have submitted a full account to the financial ombudsman, and am interested to see what they make of this.

No idea about this. Just want to know something. My loan application at klikcredit ( klickcredit.com ) got rejected. They do not are rplying to my emails anymore. Can I sue them?

This is an old thread, but it made me click and join just to answer this - ALL banks have their own solicitors panel, if your solicitor isnt on it - ask yourself why? Last year banks lost out 1,000,000 to fraud that was mainly due to fraud within solicitors. Banks need to take steps to only deal with solicitors that they can trust.- You want to borrow their money you have to stick to their rules.

Zombie thread

This thread is from 2012

Lainey are you speaking in tongues? That post makes no sense!

I've been a hsbc premier customer since 2004 and prior to that standard. Of late, their services are so bad, I absolutely hate them. I wish they would go back to asia. Everything with them has to be a big drama. They tried to sneak in some random charges (544 gbp) onto my credit card.I had to chase them for 30 days to accept it was an error on their part. They tried to make me feel grateful that they returned my money. I paid of my mortgage in full. balance was zero. Then they have sneaked in more random charges even though I'm sure my mortgage contract says I can pay it off at any time without penalties. I have instructed them to take these charges from my current account and close the mortgage account and of course they are in no rush. They are trying to pile up interest. They send generic emessages with no information. Absolutely hate them Stay away if you can. I hope someone fines them and shuts them down