How long hsbc mortgage approval

You'll find HSBC offers a wide range of mortgage deals from first time buyers to buy-to-let, but you may struggle to get an offer if you have major credit issues.

When it comes to mortgage deals and rates offered by any lender, 'best' depends. It depends on what you are looking for and your circumstances. Some people may want the lowest interest rate, while some will want to avoid any extra fees. Others may want HSBC to offer them a bit of overpayment flexibility. It's important to remember all HSBC mortgage rates will depend on your personal circumstances, but these are some of the lowest headline rates the bank is currently offering.

Mojo Mortgages is an award-winning online mortgage broker. Let's get you the best rate you can You can apply for a mortgage with HSBC online, on the phone or by visiting a branch. In each case, the correct paperwork will be required. You don't need an existing HSBC account to apply for a mortgage with them. We can help you. And we don't charge a broker fee. Everyday we successfully get people mortgage offers with HSBC. We'll guide you through their application process, double and triple checking your paperwork to make sure you don't hit any snags further down the line.

Of course, we'll check if you can find a cheaper mortgage deal elsewhere too. If you're eligible for one and it looks like a good fit for your needs, our advisers can talk you through any exclusives. After you submit your application, HSBC, like all lenders, instruct a valuation and start underwriting. This normally takes 2 weeks. If you decide to apply direct with the lender, you'll have to do 2 steps:.

This will give you an indication of the amount you can borrow from HSBC. As they will credit check you, it'll also highlight any red flags in your financial history — it won't have any impact on your credit score. Most Read. More on Mortgages. Mortgages Gove lays out plans to rethink govt cladding approach. Mortgages Third of mortgage applicants rejected.

Tenet launches mortgages for long-serving police officers. Once you have found a home you want to buy and are satisfied with the mortgage offer for your mortgage then the mortgage broker will then look to get you a mortgage offer.

This will come with a key facts illustration document which details out the features of your mortgage including how much you will pay per month. It will also contain information on if there are any limits such as early repayment fees, or annual overpayment limits. If you are happy with everything you can then go on to secure your mortgage with the help of a conveyancer.

They will oversee the sales agreement to ensure it is in your best interest, they will manage the transfer of mortgage funds, exchange contracts with the seller or their conveyancer and set a completion date with the seller or their conveyancer. If you have any questions or comments please let us know below. If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

John has 22 years of experience in financial services. This spans across financial research, financial services As a qualified mortgage broker and underwriter , financial trading and sales at global investment banks.

While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. How long does a HSBC mortgage application take? How to reduce how long a HSBC mortgage application takes A reasonable way to reduce how long a HSBC mortgage application may take is to ensure you have prepared your application in the most efficient way and provided all supporting documents necessary.

It only takes a further 5 minutes to complete the Full Mortgage Application. If your customer is a remortgage customer, it can take as little as 48 hours for your offer to be ready for you depending on the outcome of your valuation. Throughout the mortgage journey, we will keep you informed of updates via text message and email.

Here's a quick overview of the key stages involved:. The first step is to run a pre-application check to find out how much we could lend to your customer. You can use the affordability calculator on our website for an accurate indication of how much we could lend, subject to the accuracy of the information provided.

Our mortgage application journey provides a decision in principle that will give our customers a clear, reliable and immediate indicative lending decision based on the information provided and appropriate credit checks. All the information you enter will be captured and pre-filled when you go on to complete the Full Mortgage application. As soon as the underwriter reaches a decision, we let you know so you can inform the customer.

If the application is approved, we advise you that we're preparing the offer documents. Where a booking fee applies, we advise whether we can debit it from the customer's HSBC account or whether you need to ask the customer to call us and make a payment before we can issue the mortgage offer.

While the majority of applications are approved, if your customer's application is declined, we always indicate why.