How long hsbc mortgage application

You can choose the applicable interest rate according to interest review cycle of 1 month, 3 months or 6 months. Consequently, your applicable interest rate may be adjusted following the agreed interest review cycle. The Bank reserves the right to require customer to provide additional documents depending on each specific loan application. And during the remaining loan tenor, the customer must continuously maintain the valid insurance as agreed in credit agreement.

After you provide all sufficient documents required by the Bank, your application will go through basic steps including collateral evaluation, credit underwriting, loan approval, pubic notarization, secured transaction registration and disbursement. During application processing, the Bank staff will always accompany with you and is ready to assist in case of any problems.

The details are as follows:. You can swap collaterals when providing other qualified collateral s. You can get back your collateral documents up to 5 five working days after completing all repayment obligations to the Bank. The value of your collateral will be assessed by a Valuation Company appointed by the Bank.

To ensure independence and objectivity, the valuation company is randomly selected by the Bank and you cannot interfere into this selection procedure. Please maintain a sufficient balance for repayment in this account at HSBC and you do not need to manually transfer to loan account.

Borrowers may submit a request for loan prepayment for full settlement or partial prepayment. Besides, Borrowers will have to pay an early repayment fee as provided in the credit agreement. The overdue principal amount will be subject to the overdue interest rate mentioned in the credit agreement. The loan amount can be up-to VND million.

Maximum of 5 years for pre-approved customers and 4 years for other customers. However, the maximum loan tenor is also subject to your working age which is not exceeding 60 years of age for males and 55 years of age for females at the loan maturity, respectively. You will be informed of the approval status of your application within 48 hours after you have fully submitted the required documents. You need submitting documents proven for legal purpose usage before disbursement.

Your monthly repayment, in equal installment, is calculated on reducing balance basis. The installment will be automatically deducted from your designated account.

Therefore, you should maintain a sufficient balance in your savings account no later than the end of the working day of the payment due date for the repayment on due date. Borrowers may submit a request for loan prepayment for full settlement only, partial prepayment is not allowed. Besides, Borrowers will have to pay an early repayment fee as provided in the credit agreement, on the current outstanding principle.

Your regular repayment date will be consistent with this date. In case your repayment date falls into weekend or holidays according to applicable laws, repayment date will be moved to next working day.

For your convenience, the Bank might send notices by SMS via your registered phone number with the Bank prior to repayment date. Customer may our Hotline at 84 28 to check the repayment amount as well as repayment date. Secured Overdraft is a flexible loan for customers in need of funds while your own assets has been placed in a fixed deposit at HSBC Vietnam. Habito specialises in helping you get the best mortgage or remortgage, all online, for free. Hey Habito Ltd.

Your home may be repossessed if you do not keep up repayments on your mortgage. Mortgages Buying a home. Moving home. Thank you! Your submission has been received!

If your lender asks for more information add a few more days Sometimes, your lender will come back to you after looking over your application, and ask for more information. Read Article Read Article. What you need to apply for a mortgage What you need to apply for a mortgage. A valuation for a mortgage allows the mortgage lender to get an independent assessment of the value of the home they are lending to.

This ensures that the property is worth as much as you say it is and that the loan to value they are offering you is at the right property value. It also ensures that the security home they have given you a mortgage on is a worthy asset which they can repossess and sell if they had to. A valuation for a mortgage can either be done in person or over the desktop. This is referred to as a desktop valuation. Processes such as a mortgage valuation can increase how long a HSBC mortgage application will take if it is done before a mortgage offer is produced.

The time it takes between a mortgage valuation and a mortgage offer will differ from one mortgage lender to another but most mortgage lenders will look to provide a mortgage offer or decision within 48 hours after the mortgage valuation. The time it can take for a mortgage application will differ from one mortgage lender to another. The time a mortgage application takes will differ based on the strength of the mortgage application, the complexity of the mortgage application, the circumstances of the borrower, the type of mortgage and the average processing time of the mortgage lender.

If you are worried about how long your HSBC mortgage application may take then you may want to contact HSBC and get an estimate of their current mortgage application processing times. You may want to use an independent mortgage broker to help you get a mortgage on your new home. Mortgage brokers are important as they can access mortgage products from across the whole of the market in some cases.

This could be over 11, mortgage products. This may have some advantages rather than going directly to a mortgage lender. A mortgage broker will look to understand your financial circumstances and then provide recommendations on which mortgage products may be suitable for you based on your mortgage affordability.

After giving you these mortgage recommendations, most mortgage brokers will seek your consent to apply for a mortgage in principle. This will allow you to shop for your home as more estate agents and sellers may take you seriously and it will also give you confidence that your mortgage is indeed a possibility before you make a full mortgage application.