HSBC mortgage application

[flowersarelovely]

Hi,

How long does it take between sending off your statements etc to HSBC and getting your formal mortgage offer?

Thanks

We had a nightmare with them tbh, although most of that was to do with their new system and problems with it at the time. Thanks to DP who really pushed things through, we had our offer within a fortnight (we lost a week with it doing nothing). We applied online though. Their underwriters are in Singapore I think.

Thanks for your help. So it was a fortnight between posting bank statements and payslips to them and receiving an offer? How did they contact you with a final decision, was it through your online account or by post?

We did the whole thing online - I think bank statements were scanned and attached. We didn't post anything. We ended up getting the offer by phone because there were so many issues at their end. We got compensation from them afterwards for the processing issues and we found out they had carried out a hard credit check on both of us every time they had to redo things - we found that out when I couldn't get a new mobile phone contract! We only stuck with them because the rate was the best we could find.

Book an appointment send the statement a couple of days in advance and so long as you are an employee rather than self employed it takes two hours.

The online system didn't work for us so we needed to go into a branch,. It probably took over 2 months from starting the process to getting the offer and 3.5 months to get the funds released (it was a re-mortgage from another bank). And that's with us chasing them and returning everything immediately. Complete and utter nightmare.

We had an appointment in branch, scanned in our documents online but brought them with us - lucky, because the online document transfer didn't work.

We were approved in 3.5 hours, including a lunch break.