They reply back saying their decision is the same without giving any reasons. How has the coronavirus affected house prices. HSBC's mortgage deals are available directly from the lender and through mortgage brokers. It's been more than 3 weeks now, and I got no emails, no phone calls, nothing from them. Very few branches with all Chinese only bankers and clients. Problems are likely to be caused if the contractor is using any type of umbrella or payroll service, as HSBC underwriting is not set up to understand, nor assess this type of structure. Financial Services Limited. See the latest mortgage deals on Which? They seem to be happy to keep mortgage but not my banking - strange and selective. HSBC is unresponsive, they refuse to answer questions and I can honestly say they are not only the worst mortgage company I've ever dealt with but the absolute worst company in general I have ever dealt with in my life. I spent sleepless nights sending them paperwork after paperwork. Interesting - we are considering a mortgage with HSBC but some of the online reviews and comments about delays are a bit off-putting. 4. The mortgage agent tried to get my wife and I to sign up for a mortgage that was incorrect, the agent also tried to get us to sign documents that he incorrectly filled out. This has got to be the worst customer service I’ve experienced in a decade. 6. The loan officer is nothing but a McDonald's 'What can I get you' person with absolutely no knowledge of loans whatsoever. I have tried is a series of emails to explain the vendor and estate agents may pull out because I keep promising ‘next week’. Secure and Certified Your information privacy and security is … Limited on behalf of Which? Are they significantly worse than other mortgage providers? After two months to make it past approval and underwriting, they changed their minds and withdrew the approval deciding not to offer a cash out option. Your experience can help others make better choices. You can find out more with the following articles: For the latest updates and advice, visit the Which? Normally I assume you get complaints ‘after the fact’ so in actual fact little if anything can be done, however my issue is current. I have applied for a mortgage Ref No. My wife and I had a horrible experience trying to get a mortgage through HSBC. You write your mortgage reviews here to help other people find the best mortgage providers. Unsubscribe easily. The Which? If BOA's rate is 10% higher than HSBC, I would still go with BOA if I still have a chance to change. 3. We’ll start sending you the news you need delivered straight to you. Beyond frustration right now. I am a REALTOR and after my heavily advising against using HSBC my client still went with them. Conforming fixed rate mortgages – 15-, 20-, 25-, and 30-year terms 4. Consumers were satisfied with HSBC fixed rate mortgage in terms of customer service, value for the money and product features. I have tried multiple times to file complaints against the mortgage agent and the loan officer but they seem to fall on deaf ears. I immediately sent the sale completion statement as evidence that the property in question was sold in June. Unsubscribe easily. So imagine, for a person of 800 credit score, more than 400K annual income with stable job of 15 years, showing a million dollars in the bank in cash, still they could not approve the loan. Started out promising, got the mortgage in principal certificate but went rapidly downhill. It is a SCAM!!! The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand. 2 weeks became 4 weeks. Enjoy reading our tips and recommendations. It took 2 months and the issue is still not resolved!! Please stay away from this company. Our HSBC mortgage review combines customer reviews with expert deal and rates analysis to reveal whether HSBC could be the best mortgage lender for you. HSBC Bank offers a suite of jumbo mortgage options for up to $3 million with down payments between 10% and 20%, along with additional features and benefits based on the borrowers banking relationship with HSBC. Jumbo adjustable rate mortgages – 3/1, 5/1, 7/1, and 10/1 terms 3. He was a nasty little man clearly with a huge chip on his Only after I get on the phone and spent 1 hour to get someone to help us with our application. It is very important to do your own analysis before making any investment based on your own personal circumstances and consult with your own investment, financial, tax and legal advisers. HSBC continues to service mortgage loans and holds securities backed by mortgages in … If you earn £30,000 or more, this rises to 4.75 times, and if you earn over £100,000, it rises to five times. Limited is registered in England and Wales to 2 Marylebone Road, London NW1 4DF, company number 00677665, and is an Introducer Appointed Representative of Which? Which? I applied for their home mortgage online. I am currently in the process of finalizing a mortgage with them and the overall experience has been horrific. HSBC has held their file in underwriting for a week. I have to chase them to find anything out! Now coming into week 6 and poor communication, update, lack of acknowledgement of receipt of documents sent. We already missed one closing date and are on the way to missing another and possibly losing the buyer and much more. I did so immediately. HSBC's deals allow you to overpay up to 10% of the mortgage balance each year. Which? Once you submit this information, an HSBC mortgage consultant will reach out to you to continue the process. I'd read terrible reviews before using them, but I gave them the benefit of the doubt since I used HSBC many years back but apparently things have fallen apart there. HSBC had issues with the US authorities and for some now reason seem to be randomly blocking accounts with no explanation. Limited and part of the Which? Now that we are closing on the sale of our house, we find that they never recorded a lien release. Is it better to go direct or via a You'll receive assistance with each step of the home-buying process. Read Alexisjonckheer's review of the HSBC Mortgage https://mortgages.hsbc.co.uk, 1 of 258 HSBC Mortgage https://mortgages.hsbc.co.uk reviews, & compare with other Mortgage Lenders at Review Centre Big PLC that does not deliver any reliable service HSBC Home Loans (Home Loan): 1.8 out of 5 stars from 32 genuine reviews on Australia's largest opinion site ProductReview.com.au. What are they going to do for medium income home buyers? If nothing else thanks for reading thus far. We are a couple with credit score more than 800+, excellent financial capability. HSBC Bank is a financial giant known for its global reach, with over 40 million customers in 66 countries and territories. ** and initially told two weeks for a decision but I had to produce some more documentation as the upload payslips we not 100%. By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. This company is not yet accredited.See reviews below to learn more or submit your own review. So I used to call the new loans number, then the same loan officer picks up the phone trying to trap the next customer. HSBC Direct is the online arm of HSBC Bank, an international bank, and it offers online savings, checking and CDs. A HSBC contractor mortgage is assessed under very minimal criteria; there are only two categories, “employed” or “self-employed”. We value your privacy. After some chasing up I was emailed back to say the underwriter found another property in my name. They said I need to contact personal banking. Conforming adjustable rate mortgage – 5/1, 7/1, and 10/1 terms- Minimum Down Payment:From 3% (fixed-rate) and … How do I know I can trust these reviews about HSBC Mortgage? If you have an account, you can make a deposit or withdrawal at … Financing for international borrowers and family assisted financing available. HSBC offers mortgage deals to many people but often will not lend to you if you have bad credit.In this review we'll The mortgage application took 6 months to process due to the lack of correspondence and due diligence from HSBC. You can understand more and change your cookies preferences here. We value your privacy. Key benefits: Reduces or pays off your outstanding mortgage up … Which? | Read 21-40 Reviews out of 4,001 It would not let … The so called loan officers, handover the files to loan processors and NONE of them are reachable. FAQ. While the sample size is small, with only 9 customer reviews, the overall sentiment from consumers who had HSBC‘s Fixed Mortgage plan is good with a rating of 3.9 out of 5 stars. Which? The largest consumer review platform where Canadians share their stories. Their online submission process is so inefficient and impossible to track. My wife and I lost 6 months of our time and efforts. Once I was transferred to her, she just hung up on me, and when I tried to call her back, none picked up the phone. My wife and I were anticipating closing in September, but due to multiple delays from HSBC we did not close till December. A link has directed you to this review. A branch manager tried to help, but the correct department didn’t even respond to HIM! Its parent group also owns First Direct and M&S Bank. All in all after spending more than 45 days in painstaking answering all the stupid questions and conditions which are illogical, they still come back and say we decline your loan. The current deadline for mortgage payment holiday applications, which allow homeowners to defer payments for up to six months, is 31 January 2021. Too much to explain all here, you’d have to look into my case but if I would of known about this service I would have gone elsewhere. We've been with HSBC for years and they were fantastic. Loan types:Purchase, refinance, HELOC Featured Loans:Jumbo, conforming, affordable and regional mortgages. Our content is intended to be used for general information purposes only. New Help to Buy scheme opens for first-time buyers: how will it work? We've missed 3 closing dates and my buyers are now in a hotel for Christmas with all of their belongings in a moving truck locked inside a warehouse. We sent all our experience and all these reviews to the VP of Mortgage copying all the other authorities. Bloody suckers. But the overwhelming majority … These extra expense are causing us financial hardship that we did not anticipate. But when documents were required, it was within 24hrs. If I had the opportunity to start over I would stay clear of HSBC. Copyright © 2020 Consumers Unified LLC. At the same time they can carry on their other activities behind the back. Every document sent had to be revised 3 times over and apparently internal communication is a joke. Welcome to HSBC UK banking products including current accounts, loans, mortgages, credit cards. Basically, everything in this bank is performed differently with the major banks in the States. The lack of professionalism is unacceptable. And personal banking could help me create a simple ** login. The table below shows how HSBC performed in our latest mortgage satisfaction survey, from application process to value for money. Go with your local large bank - not HSBC. Which? Poorly communicated the status of missing documents, which were almost always positioned as last-minute emergencies instead of simple requests. I’ll probably lose the property. Despite being a Premier customer both in France and in the US, I was given false informations from my initial contact (like 45 days from quote to close - we have now been at this for over 9 weeks, and it is not done), the administrative back and forth has been horribly slow (despite it being a easy mortgage - great credit rating, low amount vs value and income, etc), and my contact Stephen has been horribly unresponsive. It also offers a new "automated renewals" option to speed up the renewal process in branches and online. Use these calculators to see if you're financially ready to buy. Many mortgage lenders have significantly cut their offerings this year due to the coronavirus outbreak. coronavirus information hub. I’ve since google many similar reviews warning people away from HSBC mortgages. HSBC Deluxe Mortgage 10/6 ARM: The total repayment term for this ARM loan is 30 years or 360 payments. Our experts analysed hundreds of mortgages over a four-week period in July 2020. The background noise when you're calling is extreme LOUD to a level your ear can't bear. To avoid HSBC call centre agent After many tries to get a grasp in my on line banking through mobile as I'm trying to move over my online banking app to my new device from my old phone, it … They compiled a total of 208 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table. HSBC's mortgages came with with a fixed period of either two or five years. HSBC offers support for financing homes, refinancing mortgages, equity assessment and more. Thank you, you have successfully subscribed to our newsletter! Some of which pretty egregious in my mind... Gregory took off for a week long vacation without any email automatic email responses advising his clients why he is not responding. To be honest, I’m not holding out but the customer care has been so poor for such a big corporation. Their online login the extremely complicated and frustrated. A typical day at work consisted of talking to customers to deal with about their mortgage enquries. However I don't want to block my capital. So when I ask her why she was not picking up the other line and then picking up the new loans line, she answers 'How can i help you'. Unsubscribe at any time. The role and responsibilities are totally a mess. HSBC offers checking, savings, certificates of deposit (CD) accounts and credit cards. When we checked in September 2020, there were 30 mortgages available from HSBC. If after 6 weeks I get refused, I would be furious as I’d probably lose the property and have to start from scratch. Both Consumer Affairs and the Better Business Bureau rate HSBC mortgage at one star which is too high. I have been sending weekly and then daily emails to get updates and no answer. Financial Services Limited. They tried to pass off the responsibility to a related lender, but after weeks of getting nowhere with that company, they acknowledged responsibility. And all the loan processors keep going to vacations and out of office one week at a time and the backups don't care to answer our questions. ConsumerAffairs is not a government agency. It’s happening now and could actually be resolved with some expedience. Its location on this page may change next time you visit. The bloody phones always say that they are busy. Absolutely unacceptable! mortgage lender reviews combine customer ratings with our own expert analysis to reveal the best and worst mortgage providers out there. Money Compare is a trading name of Which? (Data source: Moneyfacts.). By continuing to browse you consent to our use of cookies. The mortgage agent was very selective and sparse with any correspondence. 7. Get all the information from our loan centre inside. They processed the $500 appraisal fee without approving the property HOA. Communicated only occurred when I reached out to the agent. First, given its international pedigree, it's not surprising that the bank stresses the services it offers to permanent residents of the US and to people who are relying on family members overseas for financial assistance. Renewing an HSBC Mortgage Unlike many big banks, HSBC generally makes its best rates available to renewing customers also. It was a clear sign the loan officer did not review the original document package we sent over. I just got lured because their interest rates were a tad bit lower than the market and they had this rebate. Would NOT recommend to anyone. Anyway. Make the best choices for your family with mortgage solutions from HSBC. First exchange with Gregory sounded promising but very quickly it all fell apart. Their mortgage department can't help you with mortgage login. Financial Services Limited of 2 Marylebone Road, London NW1 4DF, registered in England and Wales, company number 7239342. HSBC is one of the UK's biggest mortgage lenders. In our HSBC mortgage review, we found that HSBC had a mortgage calculator which you can use to get an idea of how much HSBC may be willing to lend to you. They provided 8% of all mortgages in 2018, a total of £21.5 billion¹. The process started on July 9 and the harassment began. We applied for two loans, one for us and one for rental. I am hitting myself in the foot for that. I regret deeply using them... We originally decided to move forward with HSBC as they were offering a cash out refinance on a 10/1 ARM. £5 for first month then £9.99/month unless cancelled, How much can I borrow: mortgage calculator, Scottish And Northern Irish Property Systems, How to apply for a mortgage payment holiday. And therefore if they torture people, they will not back to HSBC. HSBC closed two of its largest mortgage lending arms, Decision One and HSBC Mortgage Finance, and announced it was no longer selling and trading mortgage-backed securities in the United States. The mortgage calculators offer some guide on how much you may be able to borrow but are not definitive guides on how much the mortgage lender will lend to you. Get buying tips about Mortgage Lenders delivered to your inbox. A HSBC contractor mortgage is assessed under very minimal criteria ; there only... Performed in our latest mortgage satisfaction survey, from application process to value for money coronavirus outbreak a on... Knowledge of loans whatsoever noise when you 're calling is extreme LOUD to hsbc mortgage reviews level your ca. W2, etc behind the back principal certificate but went rapidly downhill are dealing with extra expenses due the... You can understand more and change your cookies preferences here, salaries, benefits, work-life balance management. 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