Applying for a mortgage with HSBC is simple. It involves two key stages: getting Decision in Principle (sometimes called an Agreement in Principle), and then making a mortgage application.
Things you need to know when applying for a mortgage during the coronavirus outbreak
How will you assess my income?
We have a temporary income policy in place at the moment. Please check if any of the following apply to you before applying.
My income has been affected by the coronavirus outbreak
Please answer Yes to the question “Are you likely to change employment or reduce your income?”
I earn a variable income
We can accept bonuses, overtime, or commission income if paid weekly, fortnightly, 4-weekly or monthly. Please don’t complete this section of the application if your variable income is paid quarterly, half-yearly or annually.
I’ve been furloughed under the Government's coronavirus job retention scheme
If you’ve been furloughed, we’ll need a letter from your employer detailing:
- the date you’ll return to work (this must be within the next 3 months)
- your contract type (for example - permanent, fixed-term, zero hours)
- your return to work income
Without this letter we won’t be able to process your application.
We’re sorry, but we can’t process your application either if you’re furloughed and either of the following applies:
- your return to work date is more than 3 months away
- you have no return to work date
You are eligible to apply, but we’ll need:
- your January, February or March 2020 business bank statement (or personal account statement if used for business purposes)
- the latest 60 days’ worth of business bank statements (or personal account statements if used for business purposes)
The latest date showing in the statements needs to be within a week of the application start date.
Getting your Decision in Principle
Applying for a Decision in Principle can be done over the phone, in branch or online.
- a Decision in Principle will give you an indication of the amount you may be able to borrow based on what you tell us and our security checks, including a soft credit check. A soft credit check will include an initial enquiry against your credit history and it will have no impact on your credit score. This won’t be seen in searches by other companies
- when it comes to considering your application, we'll perform a full credit check, which may highlight anything in your credit history that would affect a mortgage application. A full credit check is a complete check against your credit history which is recorded on your credit file and is visible in searches by other companies
- a Decision in Principle is useful to have if you are house hunting, to show estate agents that you’re serious about buying a property. Please note a Decision in Principle is not an offer to lend to you and does not mean you are committing to apply for a HSBC mortgage
Get a Decision in Principle now
After receiving your Decision in Principle you can choose to receive mortgage advice or, if you already know which mortgage you wish to apply for, you can complete your application entirely online, however, you will not receive advice.
Are you applying online as:
- A new mortgage customer
- An existing customer who is not registered for Online Banking
- Existing HSBC customer who is registered for Online Banking
Get a Decision in Principle by phone or in branch
Applying for a mortgage
The actual process of making a mortgage application – after you’ve got your Decision in Principle – can be done over the phone, in branch or online.
You will be asked to provide relevant documents to support your application.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
What happens next?
Once you’ve submitted your documents to support your application, the following are the key next steps:
- we’ll arrange a valuation of the property
- if your mortgage application is approved, we’ll send you an offer
- after this, the legal work will be conducted
- once all the legal work is finished, your HSBC mortgage will be complete
Existing customer switching rates
If you're an existing HSBC mortgage customer interested in switching to a new mortgage rate, we can help you look at your options.
Started a mortgage application over the phone, in branch or online? Log in to complete your application or track its progress.