Do I need a solicitor or conveyancer?

As part of your home purchase you will require a solicitor or conveyancer to represent you, HSBC will also require a solicitor or conveyancer to act on its behalf.

You have three options to choose from. Please see your conveyancing options for information available to you.

How can I secure the interest rate?

We will reserve the interest rate once you have paid the booking fee (if applicable) and an Underwriter has approved your mortgage application.

Can I use my own valuers?

HSBC use an approved panel of surveyors to value properties we lend against. For purchase, remortgage and homeowner loan applications we'll carry out a Standard Valuation to ensure the property we are lending against provides suitable security for a HSBC mortgage.

If you're purchasing a property you may wish to have a more comprehensive valuation carried out such as a Homebuyers Report or Building Survey and you have the option to use your own valuer however one of our approved panel of surveyors will need to carry out a Standard Valuation. Alternatively you can use one of our approved valuers for a more comprehensive valuation when they visit the property for a Standard Valuation. See our Valuation Fee Scale for details on costs.

Do you lend on new build properties?

Yes, we may lend up to a maximum of 85% Loan to Value (LTV) on New Build Properties. If you have a an LTV greater than 75% you will be required to have a minimum deposit of £25,000.

A New Build Property is defined as:

• a building that has been built in the last 24 months which includes property bought directly from a builder or developer
• a property that has yet to be occupied for the first time

and/or

• a property that is yet to be occupied in its current form, for example following a renovation or conversion

The property you're purchasing must have an HSBC recognised satisfactory Structural Defects Warranty.

How long will it take to process my application?

It varies between applications and is dependent on the circumstances and complexity of the case. On average, a typical house purchase takes 6-8 weeks to complete from when the application is submitted. Remortgages take around 4-6 weeks to complete from when the application is submitted and Homeowner Loans take around 2-4 weeks to complete from when the application is submitted.

The Financial Conduct Authority recently conducted a review of the mortgage market which may increase the mortgage application process. Read more on the mortgage market review

HSBC Premier eligibility criteria:

HSBC Premier is available to you, as long as you pay your annual income into your HSBC Premier Bank Account and either:

1. have savings or investments of at least £50,000 with HSBC in the UK; or
2. have an individual annual income of at least £75,000 and one of the following products with HSBC in the UK:
• a mortgage;
• an investment, life insurance or protection product;

Or, qualify for HSBC Premier in another country.

Please note: HSBC in the UK excludes M&S Bank, first direct and HSBC Expat. For the second criteria, in the case of a joint account, at least one of the parties must have an individual annual income of at least £75,000. The investment, life insurance or protection products also include those purchased through one of HSBC's advisers.

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