Published 19 February 2016 · Last reviewed 25 February 2017 · Older article — see current rates
Don’t get disappointed, you are not alone as we regularly help applicants who have had a HSBC Mortgage Application Declined
I cannot independently verify this fact all I can do is recount the number of grumbles I hear from applicants that have approached HSBC that have heard a ‘no’ to their mortgage application.
HSBC Mortgage Application Declined
From what we have been told the main areas the HSBC Mortgage Underwriters particularly seem to dislike and are likely to decline:
- Foreign nationals with Visa’s
- Complex income packages
- Borrowers wanting in excess of 4 to 4.5 times income
- Some buy to lets or applicants with multiple properties
- Adverse Mortgage credit.
In HSBC defence they are a very large organisation so it could be they simply want to ‘cherry pick’ their cliental. They also do not take mortgage pre-checked by Mortgage Professionals which is likely to impact on their rejection rates.