HSBC

Proc fees - when your proc fee will be paid

Lenders send payments by BACS which can take anything up to 5 working days to clear at PMS. PMS then make payment to brokers once the funds have cleared in our account.  

Becoming your lender of choice

• Max age 80 - can consider earned income beyond age 70
• Family gifted deposits - donor can live in property
• Debt consolidation - max loan increased to £50k
• Childcare costs - can consider off-setting benefit income 
• Future jobs - starting within 3 months and no more than 20% pay rise 
• Zero hours contracts -12 months in same job (lowest of average of last 3 months or P60)
• Maternity leave - last full payslip and latest payslip, no need to contact employer. Can pro-rata income when returning on reduced hours
• No more refers - ‘Accept’ and ‘Provisional Accept’ decisions with DIP certificates
• Ltd Co Directors - treat as self-employed if 25% shareholder. Can still use salary and share of net profit after tax if less than 25% shareholder

Improved mortgage application journey

Our broker platform will help transform the mortgage application journey for you and your clients, making it easier to do business with us.

The platform focuses on creating a broker-centric experience, offering an end to end digital solution, including a full work flow system and full packaging of a case.

With a greater degree of automation in the mortgage application process, tasks are built into the platform which will improve time to offer bringing HSBC UK for Intermediaries in line with the best in the market. 

• Instant Decision in Principle (DIP) providing immediate clarity of our intention to lend.
• End to end digital journey, making it easier to transact.
• Valuations instructed at point of application submission, reducing time to offer.
• Free standard valuations for all, simplifying the home-buying process.
• Improved case tracking and self-service capabilities, delivering real-time case updates to you and your clients.
• Soft footprint at DIP, meaning your client’s credit rating isn’t affected during the early stages of their application.
• Improved conveyancing options for remortgage applications.
• Data capture significantly reduced for household expenditure.
• Product Switching available for existing borrowers where the mortgage account has originated through the Intermediary channel.

Reduced packaging requirements

• We will always require the latest months’ worth of payslip(s) for each employed applicant.
• Self-employed applicants must provide the last 2 years’ Tax Calculations and corresponding Tax Year Overviews for sole traders and partnerships or the last 2 years’ signed certified or audited accounts for limited companies. The documentation must be dated within the last 18 months.
• Applicants that are partners within a Limited Liability Partnership with 200 or more partners will be required to obtain a letter from their company Finance Director or Accountant detailing their earnings over the previous 2 years.
• For all customers we will require the latest months’ personal bank statement(s) to verify secured credit commitments.
• Evidence of any other income will need to be provided for both employed and self-employed.
• Address verification and ID is only required if our electronic check is not successful.