#AGREEMENT IN PRINCIPLE HSBC DOWNLOAD#

HSBC does offer mortgages for self-employed people, but you might have trouble getting one if you haven’t been trading in this capacity for long enough.

You’re self-employed without enough proof of income.

So, if your income multiplied by 4.49 doesn’t equal the amount you need to borrow on your mortgage, there’s a good chance that HSBC will reject you on affordability grounds.

The maximum many of them will offer is 4.5 times your salary, and HSBC typically cap their lending at slightly below that for most customers (4.49 times salary).

You don’t meet their affordability criteriaĪll UK mortgage lenders base their affordability criteria on a multiple of the applicant’s income.

Reasons HSBC decline mortgage applications There are brokers in our network who have access to exclusive deals with HSBC, but if you don’t meet their criteria, they could help you find an alternative mortgage provider with a more flexible lending criteria. If you think HSBC are likely to decline you for a mortgage because of any of the above issues, keep in mind that it could still be possible to get approved for the finance you need with the help of the right mortgage broker. How we can help you overcome these issues

#AGREEMENT IN PRINCIPLE HSBC DOWNLOAD#

If a problem with the property came up during the surveys, request a copy of the report, and if you failed HSBC’s credit checks, download all of your credit reports so you can see the issue for yourself, as well as correct any outdated or incorrect information ahead of your next application.

Find out why HSBC wouldn’t lend to you Ideally, you want all of the facts surrounding your mortgage rejection.

Don’t rush into another application No doubt you’re tempted to rush out to another mortgage lender in the hope of getting a better outcome, but what’s to say you won’t get the same answer you got from HSBC? It’s vitally important that you approach the right lender next time around, as too many unsuccessful applications for finance in a short period of time can damage your credit file.

If you’ve had a mortgage application turned down by HSBC, here are the steps you should take to give you the best chance of salvaging your homeownership plans…

What to do if you’ve been declined for a mortgage by HSBC

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