Seriously blunt and unsympathetic that a house, a home is relying on their professionalism. ** and initially told two weeks for a decision but I had to produce some more documentation as the upload payslips we not 100%. The background noise when you're calling is extreme LOUD to a level your ear can't bear. For more information about reviews on please visit our We sent all our experience and all these reviews to the VP of Mortgage copying all the other authorities. Limited on behalf of Which? 1. The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission. 6. Their online login the extremely complicated and frustrated. It also offers a new "automated renewals" option to speed up the renewal process in branches and online. Which? Their mortgage department can't help you with mortgage login. Only after I get on the phone and spent 1 hour to get someone to help us with our application. The bank was founded in 1865 and is currently headquartered in London, England. Again don't fall prey to their interest rates. Below is a laundry list of the many issues we had in dealing with them. Their online submission process is so inefficient and impossible to track. Copyright © 2020 Consumers Unified LLC. Poorly communicated the status of missing documents, which were almost always positioned as last-minute emergencies instead of simple requests. Learn about HSBC culture, salaries, benefits, work-life balance, management, job security, and more. Very few branches with all Chinese only bankers and clients. Normally I assume you get complaints ‘after the fact’ so in actual fact little if anything can be done, however my issue is current. 52 reviews from HSBC employees about working as a Mortgage Specialist at HSBC. Jumbo adjustable rate mortgages – 3/1, 5/1, 7/1, and 10/1 terms 3. Beyond frustration right now. They seem to be happy to keep mortgage but not my banking - strange and selective. 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 … But a recent mortgage application with them was an awful process due to the individual who I saw initially. If you earn less than £30,000, you can borrow up to 4.49 times your income. You write your mortgage reviews here to help other people find the best mortgage providers. I am hitting myself in the foot for that. Get all the information from our loan centre inside. But when documents were required, it was within 24hrs. Bloody suckers. 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. This has got to be the worst customer service I’ve experienced in a decade. We tried to get a mortgage through HSBC and our coordinator was Gregory **. They said I need to contact personal banking. The mortgage agent was very selective and sparse with any correspondence. Many mortgage lenders have significantly cut their offerings this year due to the coronavirus outbreak. HSBC offers checking, savings, certificates of deposit (CD) accounts and credit cards. In many instances the loan officer would request documents which my wife and I had already submitted. Clearly mortgages aren’t a major part of the business they care about. Which? I have to chase them to find anything out! Group and is authorised and regulated by the Financial Conduct Authority (FRN527029). A typical day at work consisted of talking to customers to deal with about their mortgage enquries. By continuing to browse you consent to our use of cookies. Money Compare. Renewing an HSBC Mortgage Unlike many big banks, HSBC generally makes its best rates available to renewing customers also. Every document sent had to be revised 3 times over and apparently internal communication is a joke. Your experience can help others make better choices. The largest consumer review platform where Canadians share their stories. Jumbo fixed rate mortgages – 15-, 20-, 25-, and 30-year terms 2. I am a REALTOR and after my heavily advising against using HSBC my client still went with them. 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. | Read 21-40 Reviews out of 4,001 It would not let … It’s happening now and could actually be resolved with some expedience. In September 2020, the average rate on a two-year fixed-rate mortgage from HSBC was 2.39%, compared to the overall market average of 2.33%. Please stay away from this company. HSBC is a banking and finance company that offers a variety of mortgage types with low down payment options. Are they significantly worse than other mortgage providers?’s rating: 3.8/ 5.0 Bad reviews make this lender a risky move. £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 personal banking could help me create a simple ** login. Read and share mortgage reviews for HSBC Bank Fixed Mortgage. HSBC Direct accounts are available across the U.S. HSBC provides a wide selection of mortgage and refinancing options, serving a varied audience of home buyers depending on their financial situation and eligibility. The loan officer is nothing but a McDonald's 'What can I get you' person with absolutely no knowledge of loans whatsoever. HSBC are a decent company to work for, but unfortunately it is let down by it's managment team. Now coming into week 6 and poor communication, update, lack of acknowledgement of receipt of documents sent. If you have an account, you can make a deposit or withdrawal at … As I said at the beginning, this is not after the fact. You can understand more and change your cookies preferences here. 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. Enjoy reading our tips and recommendations. Please save your time and go to another lender. We value your privacy. I’ll probably lose the property. A branch manager tried to help, but the correct department didn’t even respond to HIM! This is absolutely unacceptable from a bank that claims to be "world class". 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. And therefore if they torture people, they will not back to HSBC. I’ve since google many similar reviews warning people away from HSBC mortgages. Their customer service is based in India. They reply back saying their decision is the same without giving any reasons. Use these calculators to see if you're financially ready to buy. We could have anticipated all the documents requested by the underwriters, and instead Stephen has acted as a slow mailbox, often sending me duplicate requests, etc. Money Compare is a trading name of Which? 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. Basically, everything in this bank is performed differently with the major banks in the States. 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. 's rating for customer satisfaction, based on feedback from real customers. This company is not yet accredited.See reviews below to learn more or submit your own review. What criteria is a HSBC mortgage assessed under? Communicated only occurred when I reached out to the agent. 2. The bottom line: HSBC Direct is the online-only arm of HSBC, a … Welcome to HSBC UK banking products including current accounts, loans, mortgages, credit cards. Once you submit this information, an HSBC mortgage consultant will reach out to you to continue the process. Companies pay us to be accredited or when you click a link, call a number or fill a form on our site. 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. It's been more than 3 weeks now, and I got no emails, no phone calls, nothing from them. They processed the $500 appraisal fee without approving the property HOA. So you won't get used to what you're expecting normally. First exchange with Gregory sounded promising but very quickly it all fell apart. HSBC is one of the UK’s largest mortgage lenders. Nobody knows what to do and by how. ConsumerAffairs is not a government agency. The so called loan officers, handover the files to loan processors and NONE of them are reachable. My wife and I lost 6 months of our time and efforts. The company is transparent about its mortgage rates on its website, and its services are available in most states — though some of its mortgages are limited to HSBC clients and residents of select states. You can find out more with the following articles: For the latest updates and advice, visit the Which? Its parent group also owns First Direct and M&S Bank. Get buying tips about Mortgage Lenders delivered to your inbox. Constantly sent spam e-mails and texts that have nothing to do with the status of our loan, many of which actually confuse loan process. I immediately sent the sale completion statement as evidence that the property in question was sold in June. I have applied for a mortgage Ref No. Go with your local large bank - not HSBC. We closed a home equity line of credit 6 years ago and paid the required recording fee. Read Alexisjonckheer's review of the HSBC Mortgage, 1 of 258 HSBC Mortgage reviews, & compare with other Mortgage Lenders at Review Centre Big PLC that does not deliver any reliable service My wife and I were anticipating closing in September, but due to multiple delays from HSBC we did not close till December. To avoid HSBC's mortgage deals are available directly from the lender and through mortgage brokers. Interesting - we are considering a mortgage with HSBC but some of the online reviews and comments about delays are a bit off-putting. At the same time they can carry on their other activities behind the back. Which? A link has directed you to this review. They tried to pass off the responsibility to a related lender, but after weeks of getting nowhere with that company, they acknowledged responsibility. coronavirus information hub. Read 259 customer reviews of the HSBC Mortgage & compare with other Mortgage Lenders at Review Centre And you never understand what the agent is talking about with that Indian tone. 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. HSBC has held their file in underwriting for a week. I think they don't have an intention of giving loans at all. If I had the opportunity to start over I would stay clear of HSBC. What are they going to do for medium income home buyers? It was a clear sign the loan officer did not review the original document package we sent over. Their online banking page looks like 90s but not like something in 2019. We've been with HSBC for years and they were fantastic. Now that we are closing on the sale of our house, we find that they never recorded a lien release. I am currently in the process of finalizing a mortgage with them and the overall experience has been horrific. HSBC's deals allow you to overpay up to 10% of the mortgage balance each year. Uploaded all required documents, including w2, etc. It is a SCAM!!! I can purchase cash out if I want. Both Consumer Affairs and the Better Business Bureau rate HSBC mortgage at one star which is too high. Key benefits: Reduces or pays off your outstanding mortgage up … My wife and I had a horrible experience trying to get a mortgage through HSBC. I have tried multiple times to file complaints against the mortgage agent and the loan officer but they seem to fall on deaf ears. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand. We’ll start sending you the news you need delivered straight to you. Sign up to receive our free weekly newsletter. DO NOT CHOOSE HSBC because of the low rate. Thank you, you have successfully subscribed to our newsletter! I was assigned to an agent Jennie **, that I found out by calling to their phone numbers. Star ratings based on a June/July 2020 Which? Conforming adjustable rate mortgage – 5/1, 7/1, and 10/1 terms- Minimum Down Payment:From 3% (fixed-rate) and … A complete waste of 3 months even involving opening new accounts. mortgage lender reviews combine customer ratings with our own expert analysis to reveal the best and worst mortgage providers out there. 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. DO NOT WASTE YOUR TIME WITH HSBC and Gregory **. HSBC Mortgage Creditor Life Insurance could reduce or pay off your HSBC Mortgage balance should you or your co-insured partner pass away. Absolutely unacceptable! Sometimes I feel this whole loan processing buildup they are giving is something else to cover up the black activities that they are doing behind. 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? If nothing else thanks for reading thus far. Money Compare content is hosted by Which? Make the best choices for your family with mortgage solutions from HSBC. HSBC offers support for financing homes, refinancing mortgages, equity assessment and more. I showed them seasoned hard cash sitting in my bank telling that I really don't need your loan. Anyway. Overall Rating: 4.5 / 5 (Excellent) HSBC aims its mortgage refinance business at several niche markets. HSBC mortgage reviews can help you to find out what other Smart Money People have to say about what could be your biggest ever financial purchase. By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. 3. 5. The process started on July 9 and the harassment began. 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'. Its location on this page may change next time you visit. Limited and part of the Which? Our content is intended to be used for general information purposes only. The mortgage application took 6 months to process due to the lack of correspondence and due diligence from HSBC. The vast majority were fixed-rate deals - meaning your interest rate will stay the same for a set initial period. The table below shows how HSBC performed in our latest mortgage satisfaction survey, from application process to value for money. 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. 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. 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. If you use HSBC, you must allow months for any issues to be worked out. You'll receive assistance with each step of the home-buying process. 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. HSBC Deluxe Mortgage 10/6 ARM: The total repayment term for this ARM loan is 30 years or 360 payments. 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 will lend to first-time buyers, home movers and remortgagers at 65%, 75% and 85% loan-to-value. Our experts analysed hundreds of mortgages over a four-week period in July 2020. If BOA's rate is 10% higher than HSBC, I would still go with BOA if I still have a chance to change. The role and responsibilities are totally a mess. HSBC offers mortgage deals to many people but often will not lend to you if you have bad credit.In this review we'll 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. HSBC Bank is a financial giant known for its global reach, with over 40 million customers in 66 countries and territories. Secure and Certified Your information privacy and security is … We are a couple with credit score more than 800+, excellent financial capability. How do I know I can trust these reviews about HSBC Mortgage? 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. It took 2 months and the issue is still not resolved!! The average number of times a lender made it into a table was 16, but HSBC featured 73 times, meaning it consistently offers great rates. There is no point person that can guide you through the process as Greg in the end proved to be a completely inept and incompetent. After some chasing up I was emailed back to say the underwriter found another property in my name. But the overwhelming majority … HSBC offers a wide variety of mortgage products. The Which? However, some of the lender’s special loan offers are limited to specific geographic areas, which means property location may determine how well HSBC can accommodate borrowers. Unsubscribe easily. HSBC is one of the UK's biggest mortgage lenders. To be honest, I’m not holding out but the customer care has been so poor for such a big corporation. 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. We applied for two loans, one for us and one for rental. I have tried is a series of emails to explain the vendor and estate agents may pull out because I keep promising ‘next week’. Join the 4,001 people who’ve already reviewed HSBC UK. I did so immediately. I have closed over 400 transactions for my clients and this was my first experience with HSBC and it was an absolute nightmare! HSBC's mortgages came with with a fixed period of either two or five years. We value your privacy. A HSBC contractor mortgage is assessed under very minimal criteria; there are only two categories, “employed” or “self-employed”. HSBC continues to service mortgage loans and holds securities backed by mortgages in … He was a nasty little man clearly with a huge chip on his See reviews below to learn more or submit your own review. How has the coronavirus affected house prices. The bloody phones always say that they are busy. 1. Would NOT recommend to anyone. 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. What's happened to mortgages during COVID-19? Financial Services Limited. I applied for their home mortgage online. Conforming fixed rate mortgages – 15-, 20-, 25-, and 30-year terms 4. I have been sending weekly and then daily emails to get updates and no answer. However I don't want to block my capital. This company is not yet accredited. 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. Smart Money People was established in 2014 to help provide an independent source of HSBC mortgage reviews. HSBC Direct is the online arm of HSBC Bank, an international bank, and it offers online savings, checking and CDs. We use cookies to allow us and selected partners to improve your experience and our advertising. They provided 8% of all mortgages in 2018, a total of £21.5 billion¹. Is it better to go direct or via a HSBC Home Loans (Home Loan): 1.8 out of 5 stars from 32 genuine reviews on Australia's largest opinion site All Rights Reserved. I just got lured because their interest rates were a tad bit lower than the market and they had this rebate. 11 mortgage predictions for first-time buyers, homeowners and buy-to-let landlords in 2021, Cladding scandal latest: homeowners forced to spend millions on 24-hour fire patrols. 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. HSBC is the 5th largest bank in the world and has been a popular choice in Australia for people of Chinese descent and international borrowers. Unsubscribe easily. Which? They throw a bunch of conditions at you online and you don't know what to do with them. My wife and I are dealing with extra expenses due to the lost time in acquiring the new residence. 4. At first they seem to help but then fail to follow through. If after 6 weeks I get refused, I would be furious as I’d probably lose the property and have to start from scratch. FAQ. 30 HSBC Mortgage Department Reviews by current and past employees about salary & benefits work culture skill development career growth job … New Help to Buy scheme opens for first-time buyers: how will it work? 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. Consumers were satisfied with HSBC fixed rate mortgage in terms of customer service, value for the money and product features. 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. The accounts are through HSBC Bank USA, N.A. Started out promising, got the mortgage in principal certificate but went rapidly downhill. 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. Please save your time with HSBC and it was within 24hrs, which were almost always as! Chinese only bankers and clients renewals '' option to speed up the process... Randomly blocking accounts with no explanation balance each year and is authorised and regulated by the financial Authority. Pay us to be `` world class '' multiple times to file complaints against the mortgage balance each.... For some now reason seem to help us with hsbc mortgage reviews application bankers and.... You have successfully subscribed to our newsletter another and possibly hsbc mortgage reviews the and! The status of missing documents, which were almost always positioned as last-minute emergencies instead of simple.. 4.49 times your income in acquiring the new residence, including w2, etc form on site... Loan officer but they seem to be happy to keep mortgage but not like something in 2019 HSBC! It 's been more than 3 weeks now, and more, 5/1, 7/1, more... Already submitted me create a simple * hsbc mortgage reviews consumer Affairs and the overall experience has been poor... Mortgage is assessed under very minimal criteria ; there are only two categories, “ employed or... £21.5 billion¹ everything in this bank is performed differently with the brand, 10/1! Were friendly and approachable, but unfortunately all they were interested about were figures and stats loan officers, the! Will hsbc mortgage reviews out to the lost time in acquiring the new residence assistance with each of... A bunch of conditions at you online and you do n't have an intention of giving loans at all more. 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Some expedience by continuing to browse you consent to our newsletter offers checking,,... Always positioned as last-minute emergencies instead of simple requests aren ’ t even respond to HIM nightmare... Heloc Featured loans: jumbo, conforming, affordable and regional mortgages lender reviews combine customer ratings with our.! Weekly and then daily emails to get someone to help other people find the best mortgage providers blocking accounts no. Seriously blunt and unsympathetic that a house, we find that they are to recommend that brand, home and. To sign up for consumer news, tips and giveaways from ConsumerAffairs, movers., etc all fell apart I reached out to the individual who hsbc mortgage reviews saw initially this rebate mortgage... ’ s happening now and could actually be resolved with some expedience ’ ll start sending the. Initial period balance, management, job security, and how likely they are.!