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Gavin123

Hsbc Mortgage Calculator

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Just wondering if anyone has had dealings with HSBC for mortgages. They seem to be offering the best varible rate at the moment, but when i try their "how much can i borrow" its showing a maximum of less than two times my salary! This is with an LTV of less than 60% and no other committments. Other lenders calculators show around 3-3.5 times joint income.

Is their online calcultor reflective of what they would actually lend?

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I tried getting a mortgage with them when I was looking for a house (Granted it was 9 months ago) but when I rang them up they only offered 2x my salary after going through a whole lot of details on the phone. They also where looking for a 35%+ deposit rather than the 10% they had advertised at the time on there site.

I ended up with Santander but I took a fixed rate rather than variable.

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Just wondering if anyone has had dealings with HSBC for mortgages. They seem to be offering the best varible rate at the moment, but when i try their "how much can i borrow" its showing a maximum of less than two times my salary! This is with an LTV of less than 60% and no other committments. Other lenders calculators show around 3-3.5 times joint income.

Is their online calcultor reflective of what they would actually lend?

its giving me just over 3x my household salary

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i had a hsbc mortgage, and what i can say for definite is they don't assess on salary multiples, unlike other lenders they assess on the ability to pay. before securing my previous mortgage i had to demonstrate that i retained 40% of my salary for 'living' i.e. food, clothing, fuel etc, with the 60% including all other committed to bills, such as the mortgage itself, insurance, direct debits, loans, credit cards etc.

that mortgage was secured in 2006 during silly season for lending, as i think we all know hsbc were one of the banks least stricken by the practise of irresponsible lending.

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I assume you have children. They seem to knock a huge whack off what they will lend if you have dependents.

Yes - 2 children. It's a pity that they don't offer the same multiples as other lenders. Most of the rest seem to charge over £1k for setup and not as good an apr. If they are looking for proof of my spending habits I'm stuffed! My "disposable" income isn't bad - but i do spend all of it each month. That said i could cut back if i had to, but at present i don;t need to.

Thanks for the replys from other members by the way.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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