Q: Just heard today that HSBC will not give me 95% mortgage (which is 2 weeks after acceptance of bid on my house and instructing the lawyers and pay them 200 pounds) – a 90% mortgage is feasible and that the new rates. The vendor is jumping up and down.
Being a FTB, I guess if I can get a mortgage for 25 years to 3 years fixed term interest alone. On a yearly salary of 55k per year. Doc of action. FTB.
Off to buy a house worth 175k.
the clock ticking for me.
A:i have banked with hsbc for nearly 4 years now. maintained an avg sum in 5 figures always, cant believe that they can be so useless. Dont have CCJs, or any adverse credit rating. Never defaulted on a payment . Infact everything on my credit card automatically debits at the end of the month.
I think its the "computer says no" phenomenon.
Has anybody gone with :
1.Portman's building society. I got a quote for 95% int only mortgage at 3 yr fixed at 5.55% , with arrangement fee of 600 pounds and homebuyers for 450 pounds. Early repayment charge in first 3 years is 7k though!
Is this a quick moving company or slow as an elephant/HSBC
2. Standard Life are doing a 3 year fixed interest only at 95% , at 5.89% with 300 pounds arrangement fee, valuation at 185 pounds , Early repayment charge at 3 years is 6k though.
I would want to go for the one which is faster moving.
Should I go for both as one may backout again (AKA Murphy's Law)
A:WHAT THE HELL
Mortgage company can cancel mortgage even if the offered was made after survey?
A:If you don't have a graduate mortgage with them you can still apply if you have a graduate a/c elsewhere and graduated in the last three years. Just looked on their website and they've stopped doing 100% though. Can't believe it, we got in just in time.
A:They say they still do 95% for graduates, 90% for non-grads. I hope if you're a doc you have degree.
Their graduate mortgage isn't just for any old graduate though, you need to have a graduate account with them and there's a time limit – you have to take it within 4 or 5 years after you leave uni, I think?
EDIT: Yep, 5 years – just checked on their site.
A:Is that true? I'm going to exchange soon and have a 100% graduate mortgage with HSBC. Interesting.
A:They say they still do 95% for graduates, 90% for non-grads. I hope if you're a doc you have degree.
A:its all because hsbc is no longer doing 95% mortgages. This has happened in last 1 week or so.
A:I'm no expert by any means, but I've just agreed a mortgage with Nationwide for 172k on a combined salary of 41k (partner and I), mine's fixed for 5 years, but I had the option of 2, 3 and 5. I wouldn't have thought that you'd have any problems achieving what you need.
The earlier advice is better than mine, I just thought I'd add my own illustration as an example…
A:Your salary to mortgage value looks pretty reasonable, the broker might be able to advise about whether particular companies are known to move quickly or not.
My broker had good connections into the company we used which sped things up no end.
A:already talked to london and country. they will get back to me today.
my IFA has got me a quote from standard life with 5.89 % for 3 years with early repayment penalty of 6k, and 1.5 grand arrangement costs (inc valuation)
A:Would go and see a fee free whole of market broker if I was you.