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.
For more mortgage alternatives after having your HSBC Mortgage Application Declined please call and speak to me personally.
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Finance Brokers In London. His role is very much focused on Property financing both on residential and commercial lines.