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.  

Overview

Free day one valuation instructed 

• All offers are valid for 180 days 
• Minimum term 5 years. Maximum term 35 years for Purchase, Remortgage, 30 years for Capital Raising, 25 years for Interest Only
• Income multiples – no differentiation between borrower types or loan sizes 
• Up to 100% variable pay, rental income, and 100% shift and contracted allowances
• Family gifted deposits - donor can live in property
• No minimum time in employment – first payslip and contract required
• Foreign currencies, foreign nationals, overseas customers, and overseas deposits accepted
• £ for £ Remortgage, Additional borrowing may be provided if required
• Maximum 80% LTV and £50,000 for debt consolidation 
• New build – 5% cash incentives permitted without impact 
• Lending into retirement considered
• Improved mortgage application journey

Improved mortgage application journey

Our broker platform focuses on creating a broker-centric experience, offering an end-to-end digital solution, including a full workflow 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 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 Transfer 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.
• Bank statements are no longer needed to verify credit commitments, and will be requested by exception only. 
• 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.