HSBC Mortgage Advice

[Tanzibar83]

Hey Girls, so after getting an agreement in principle from this pit of a bank we went ahead and put in an application for a 90% ltv mortgage which was declined!!!!!

I've been with that bank now about 16 years and am really hacked off this decline will effect all future applications - has anyone got any light at the end of the tunnel for me??

All they said was it was a credit score issue, they couldn't tell us if we were close to approval and what exactly failed us. So hubby and I had a look at our credit reports, his is excellent but mine is only fine...the worst part is, is that there's no activity on my report since I got married everything is all is my maiden name and now I'm so hacked off no one told me to make sure this was all up to date before house hunting.

So far we've spoken to a financial advisor, estate agent representative, solicitor - not one of them advised to do such a basic check. so pissed off right now. Sorry for the rant but I just need to know that it may all still be good - anyone got any success stories?

 

[xcharx]

Would the financial advisor get you one? My OH got a mortgage approved VIA a financial advisor & he has terrible credit rating Xx

 

[Tanzibar83]

hey char - I'm not sure - our predicament at the minute is making sure we don't over do the credit checks you know?! We got an AIP from a broker which hubby is going to get more info next week.

How many did you and OH go to see in total, were you worried about credit checks?

 

[tardiz]

Same happened to us with nat west. Hubby had been with them for 20 years and we got a 90% accepted in principle then we got rejected. AppRently you need excellent scores cause of the high loan amount

 

[Kay_Baby]

Every bank is very very careful now about lending high mortgage amounts compared to the value of the home. They have all learnt from their past mistakes now.

To get any mortgage now involves jumping through so many hoops. We remortgaged in the summer with HSBC and had trouble proving our income and affordability despite they having our bank accounts for the last ten years. They had a real problem believing we could afford our 60% mortgage despite being able to see our new mortgage payments would be £400 a month less

 

[Tanzibar83]

It just seems to unrewarding, being told the best thing to do is save for a house only to be told a million other factors may prevent that from happening!! it's a messed up world