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“Mortgage offer made, paid fee, mortgage offer withdrawn!”

written by MileyEgan3 on 11/10/2014

I applied for a mortgage using their online system thanks to being pointed in their direction by a comparison website. All information was entered honestly and correctly. In principle decision was done straight away. I made an offer on the property, instructed solicitors, paid for surveyors report. The survey was fine and HSBC made the mortgage offer formally. I accepted, paid their £999 fee. Great, all going well so far.

The very next morning I got a call to say my application doesn't meet their criteria and they cannot lend unless I come up with a larger deposit. An underwriter doesn't look at it until this point in the application they told me. At this point I was very nearly in tears - and I'm a bloke so that's how distraught this got me - as I'd paid out money, got to know the vendors and built up a relationship with them, set my heart on the house, spent huge amounts of time on sorting out my other property.

They have said they will refund my £999 fee I paid... thanks a bunch! I explained I expect my surveyors fees and solicitors fees refunded also. Still waiting on this.

I am advised that HSBC do this all the time. So don't waste your time on them is my advice. I will be making an official complaint because the process they take people through is incompetent and wholly unfit for purpose.