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HSBC Fixed Rate Mortgage Reviews

Ratings based on 49 reviews Last review 1 month ago

HSBC mortgage reviews can help you to find out what other Smart Money People have to say about what could be your biggest ever financial purchase. Smart Money People was established in 2014 to help provide an independent source of HSBC mortgage...

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HSBC mortgage reviews can help you to find out what other Smart Money People have to say about what could be your biggest ever financial purchase. Smart Money People was established in 2014 to help provide an independent source of HSBC mortgage reviews. You write your mortgage reviews here to help other people find the best mortgage providers. Together, we can make financial services work better for everyone.

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Your Fixed Rate Mortgage Reviews (49)

3rd July 2019

May as well organise a mortgage yourself

Used HSBC for the mortgage on a new property. Simply put we were 'porting' our current HSBC mortgage from the old to the new house and taking out a second HSBC mortgage to cover the difference. The maths was Mortgage 1 + mortgage 2 = the price of the...

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Used HSBC for the mortgage on a new property. Simply put we were 'porting' our current HSBC mortgage from the old to the new house and taking out a second HSBC mortgage to cover the difference. The maths was Mortgage 1 + mortgage 2 = the price of the new house (minus what we put in in terms of equity on the old property)

HSBC applied the following maths. Mortgage 1 - mortgage 2 = £97,000 short of what we needed. I voiced concern this was wrong and this was ignored for 10 weeks straight, despite repeated e-mails and phone calls. 2 days before exchange our lawyers got involved and pointed this out. HSBC finally accepted the mistake as one of the advisors having made a cock up. I expressed dismay that the mistake wasn't picked up by underwriting and the fact theres a single point of failure that can go all the way through to exchange.

I wrote a letter asking HSBC to alter their procedures so no single mistake could go through to exchange without a second check to detect it, a relatively easy process to employ. HSBC refused stating it was 'too difficult' to implement this. From someone that works in a safety related industry where procedures change the whole time I know this not to be true. HSBC then suggested it was the lawyers that were to blame, ironic when it was the lawyers that THEY INSISTED i use. That cost me £1004 in cancelled legal fees from the original lawyers I instructed. Again HSBC denied any wrong doing as it's in their terms and conditions. I might also remind them 'learning from mistakes and putting things right is also in the T&Cs but they failed to do that by refusing to change very poor procedures. HSBC then went on to suggest I was the second line of defence on mistakes and I should have picked up the mistake. I pointed out I was not a financial adviser but I had highlighted a mistake and I had been ignored. Ironically then HSBC seemed to ignore me when I further pushed this point. I would summarise they actively encourage weak procedures so they can use plausible deniability. In the end I was offered £250 and the ombudsman agreed this was fair because the legal issue and the procedures issue they do not look into as it's not their area of responsibility. I contacted the FCA who seemed largely disinterested but 'added it to their statistics'.

Now i know how the 2008 financial crash occurred. In my industry this standard would not be accepted.

Taking my mortgage and bank elsewhere at the end of my fixed mortgage term. That will cost HSBC a lot more than £1004 i can assure them.

In summary a totally incompetent and mismanaged process, and very unlikely to be a one off given the weak procedures to prevent such things happening.

18th June 2019

Extremely disappointed

I've been baking with HSBC for over 8 years, and have had a great relationship with them, until applying for a mortgage online. The process was extremely fast and I thought this was a good sign, until they made a decision on my application in 3 days...

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I've been baking with HSBC for over 8 years, and have had a great relationship with them, until applying for a mortgage online. The process was extremely fast and I thought this was a good sign, until they made a decision on my application in 3 days and declined my application on my credit score, which is rated as very good by both Experian and Equifax. I'm lost for words with HSBC as they are clearly incapable of accepting applicants that don't meet their stringent criteria, of which I have asked HSBC to clarify on how I can apply again in the future with better Hope's, and they simply replied with "we cannot share this information and it is commercially sensitive". HSBC don't take into consideration loyal customers and I will certainly stop banking with them until the foreseeable future, really is their loss.

16th April 2019

Standard product, slow service

The people at the bank were good and knew what they were doing but the people on the phone were clueless. It took about 7 phone calls to establish that they did in fact have all the info they needed. All smooth sailing after it was approved though.

15th March 2019

Box Tickers

I bank with HSBC personally and the company also banks with them, and this part of the bank is fantastic, but the mortgage section is on a different planet. In essence they are looking for any tick box reason not to process your application, they are...

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I bank with HSBC personally and the company also banks with them, and this part of the bank is fantastic, but the mortgage section is on a different planet. In essence they are looking for any tick box reason not to process your application, they are slow, it is beyond them to use common sense, and even when you send them every thing they ask for still no action. In short great bank, excellent interest rates, absolutely rubbish mortgage department.

1st January 2019

Enabled us to get the house we truly wanted.

The whole process was friendly, simple and efficient when applying in person. All staff were knowledgable and professional. The rates offered to us and mortgage term times enabled us the peace of mind that we can afford the house thats right for us,...

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The whole process was friendly, simple and efficient when applying in person. All staff were knowledgable and professional. The rates offered to us and mortgage term times enabled us the peace of mind that we can afford the house thats right for us, the one we had truly set our sights on. Having banked with HSBC for over 15 years and having had a previous mortgage with them with no issues from either meant it was a definite choice to stick with them.

29th December 2018

Dreadful

Ask if they use QCAS legal? If they do say BYE. QCAS legal are very poor communicatotors and will cost you more more money. I am in the 5th month of a small remortage that I have spent over £1000 to set up.

6th August 2018

Mortgage for first time buyers.

My partner and I were first time buyers looking for a fixed mortgage rate and HSBC were offering a great deal. We asked for information and help on how to apply for the mortgage and the lady we dealt with was very helpful giving us loads of...

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My partner and I were first time buyers looking for a fixed mortgage rate and HSBC were offering a great deal. We asked for information and help on how to apply for the mortgage and the lady we dealt with was very helpful giving us loads of information. Staff were friendly and advised us every step of the way. We secured the mortgage and HSBC were always there to answer our questions and when we finally moved into our house we got a lovely card from the lady who had helped us process our mortgage. They offered us exceptional and friendly service.

18th July 2018

Absolutely useless, lost everything we sent then never replied

We applied to HSBC for a mortgage last October. We took the option of using the online method as we were told this would be easiest. Oh what a joke that was. We uploaded everything asked of us, then about a week later we received a letter asking us...

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We applied to HSBC for a mortgage last October. We took the option of using the online method as we were told this would be easiest. Oh what a joke that was. We uploaded everything asked of us, then about a week later we received a letter asking us for the same documents. We contacted them and they told us to ignore it. Two weeks went past with no update, so we logged in to find a message telling us we needed to upload our documents. We called and this time were told that they'd sent a letter and we'd ignored it. We explained we'd been told to, but they said this was wrong, they needed us to send our documents as they'd been lost. We uploaded them again, then a week later we got a letter asking us to upload our documents. The same process happened again - ignore it. Fast forward two months with the same process happening over and over again. Eventually we were passed to an assessor, who asked for more documents. We sent these, waited some more then logged in again. To our horror, our application was marked 'expired'! We called again to be told it had taken too long and we needed to begin the whole process again! Meanwhile our vendors were getting extremely impatient. We were told this would be fast tracked, so we did everything again, were told it was sent to an advisor and the next time we logged it the entire application was marked cancelled. We never did hear from anyone! Serious, do not waste your time! They'll lose you your house.

19th May 2018

Good, helpful just a little slow

The only negative part of the process were how slow HSBC were to do everything. The surveyor took ages, all the approval took ages, the whole process ended up taking 3months. However the mortgage itself was a good rate and every member of staff I came...

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The only negative part of the process were how slow HSBC were to do everything. The surveyor took ages, all the approval took ages, the whole process ended up taking 3months. However the mortgage itself was a good rate and every member of staff I came across was lovely and full of good advice.

8th November 2017

Great product and superb value from a great British bank ... despite the name of course

It was very straightforward to switch my mortgage to HSBC and their 10 year fix with no fees was a very good value way to provide certainty during very uncertain times.

6th November 2017

Good rate but terrible application process

It took over 3 months to sort our new mortgage with hsbc despite having been known to them for over 20 years as a current account holder. The online application process was hellish as the system made me reset my username and password every time I...

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It took over 3 months to sort our new mortgage with hsbc despite having been known to them for over 20 years as a current account holder. The online application process was hellish as the system made me reset my username and password every time I tried to log on. And all this at the time of their tv ads where they boasted they could agree your mortgage in a day. Still, good rate saved us £200 pcm so worth it I suppose.

11th June 2017

0.99% 2 year

great product, took ages to get approval through initially despite being a 20 year customer (I think because they were overwhelmed with demand), but customer service person was very helpful and seemed to make an extra effort to get things through

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