Have you been declined for a mortgage with HSBC? HSBC Declined mortgages for some of the following reasons; they may not support buy to let mortgages or certain financial cicumstances. However HSBC declined mortgages are not the end of the road. We are able to speak to lenders on your behalf and assist with finding you the ideal mortgage deal. This means you could potentially still get that mortgage deal / property that has previoulsy been HSBC declined.
HSBC Declined - The alternatives
There are alternatives if you have been declined by HSBC for a mortgage. It is possible to find competitive rates who will be prepared to take higher or different risks which means that you are still able to invest or buy the ideal property. HSBC may have different policies in place in comparison to other lenders which can sometimes result in the application being turned down even though you are still effectively still able to get a mortgage based upon your financial situation. It may therefore be useful to take a look at what some of the other lenders are offering if you have been HSBC declined.
HSBC Declined - The impact
Does having a decline on a mortgage by HSBC impact on your credit rating or chances of getting another mortgage in future? It can affect your credit rating which is why it is probably best to get it right the second time round. Therefore we would recommend speaking to one of our mortgage advisers about HSBC declined situations and how we can assist in making the rest of your mortgage application go through smoothly.
When you apply to too many mortgage companies unsuccessfully this can imply that you are not credit worthy or that you have a bad financial history, other lenders may then judge unfairly and not lend based upon a decline from a previous lender, however cases such as this are not often it is good to be aware that applying too many times and being declined can affect your rating. The best approach in our opinion about a HSBC declined application would be to speak to an adviser and they will be able to assist and point you in the right direction for your mortgage needs. They will give you a plain English idea of exactly what is achievable and what isn't.
HSBC Declined - Getting the application through
In order to get your application accepted we will need to run through your financial situation and credentials to ensure that we are applying for the right amount based upon what you can afford. This will reduce the risk in future of further declines on your mortgage application and should speed up the whole process. The mortgage process usually takes a couple of weeks however if you have timescales which you need to stick to you can always speak to us about increasing the speed of this process up. Please feel free to request a call back so that we can discuss your requirements.