See the latest announcement from HSBC below. Note that you can access HSBC via the Brilliant Solutions mortgage club but the lender does place some restrictions on access. Contact us for details.
HSBC Mortgage Product Guides are available here but check the date to ensure it has been updated to reflect the announcements below.
We’ve introduced mortgage offer extensions
With effect from today, Monday 25th March, we’ve introduced the following:
Offer extensions
For purchase applications you can now extend the mortgage offer – giving your customers more time to complete on their mortgage, if needed:
- Non-new build mortgage offers can be extended by a further 30 days
from 180 days to 210 days
- New build mortgage offers can be extended by a further 90 days
from 180 days to 270 days.
An offer extension can only be requested where:
- the original offer is within the last 30 days of the offer validity period
- there are no other changes to the application or to the customers personal circumstances.
Customer’s requesting an offer extension can retain their existing product and we don’t need any supporting documents. However, only one offer extension request per application can be made.
To request an offer extension, you’ll need to complete and submit an Application Amendment Form via the broker platform.
If there is a change to the application or the customers personal circumstances at any point during either the original or extended offer period, the application will need to be updated and resubmitted for review.
Changes to an application
We have also updated our process when making a change to an existing mortgage application:
- Changes to an application made outside the last 14 days of the original offer validity period will see any revised offer issued with the same validity period.
- Changes to the application made within the last 14 days of the original offer validity period will see any revised offer issued with a validity period of no more than 14 days.
Please note, revised offers will only be issued subject to the change meeting our lending criteria.
Our Broker website will be updated shortly to reflect the above changes.