Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

HSBC the worst conmen

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • HSBC the worst conmen

    I am a customer of HSBC (hopefully a good and profitable one) for the past 7 years. A few months back I decided to move my mortgage from my existing lender to HSBC and applied for the lifetime tracker mortgage (with the fee of £999). Whilst my application was being processed, I decided to change the product to the non fee option (though it had a higher rate of interest). I called their mortgage service centre and was told someone would get in touch with me regarding the change of product I had requested. I received no call from any of their representatives. The mortgage required a valuation of the property which went ahead through a 3rd party

    Without any intimation to me, the bank went ahead and withdrew the fees of £999 from my account on 23rd Nov 2011. My calls to change the product were ignored and no call back was received despite various reminders to their call centre. Surprisingly on 28th November 2011 I received a letter from HSBC which clearly states that the valuation of my property against the mortgage was acceptable and HSBC were happy to go ahead with my mortgage. Clearly the fees should have been taken after the valuation of the property was completed whereas the bank took this from my account well before the letter was sent. My question to is: What would have happended if the property valuation was not sufficient to cover the mortgage? Would the bank have taken the fees and told me that they would not lend me the money?


    The bank insists that the fees was payable to 'book' the deal and hence are refusing to refund the amount or take any notice of the point that the valuation was sent after the fees was taken from my account

    I have raised this to the Financial Ombudsman. Does any one have a view of my chanves to win against a giant like HSBC?

  • #2
    Re: HSBC the worst conmen

    No. But I can honestly say that all of my business and mortgage dealings with HSBC have resulted in great customer service from courteous and proffesional staff.

    At the time of application the rates were market leading too! I did consult a mortgage broker, and the expression on his face was amusing when I mentioned HSBC as firstly he could not beat their rates. And secondly they don't deal with middlemen who you may end up paying a fee tot just to find you a product you can probably find yourself.

    Comment


    • #3
      Re: HSBC the worst conmen

      I'm afraid I'm a loyal Barclays fan. They're just so friendly in there

      Comment


      • #4
        Re: HSBC the worst conmen

        I have not heard that many great reviews of HSBC from my existing clients although I would be slightly biased with them not using brokers!
        Anthony
        Compare the Mortgage Market
        http://www.comparethemortgagemarket.com

        Comment


        • #5
          Re: HSBC the worst conmen

          I know a mortgage broker who has conned thousands of pounds out of honest hard working families. His name is James "Jim" Dunderdale from Winchester in Hampshire. He owns property in Fuerteventura and is the proprietor of Southern Counties Financial Solutions in Fleet, Hampshire. He is a despicable human being.

          Comment


          • #6
            Re: HSBC the worst conmen

            Can anybody give any actual examples of this conman's activities and explain how he does it and is able to get away with it?

            Has anybody ever tried to sue him for monies and what has the result been?

            I have given him £6,500 already. What shall I do?

            Comment


            • #7
              Re: HSBC the worst conmen

              Hi Ranjit,

              Firstly in answer to the down valuation HSBC would have just lent you say 70% of the amount of the down valuation if that was the LTV so you would have had to have added the extra monies. They wouldn't have refused you as they are relying on the independent valuer. You could then return to the seller and barter them lower as you have a valuation report prepared by a professional.

              They are right as in they ask you to pay to book the deal as their rates change quite a bit based on their book exposure to the market.

              HSBC are not that bad but considering the way they service the cases with a different manager picking up a single case each time they can get pretty confused and mess things up.

              I gain lots of business from HSBC where clients have had enough of the messing around and going backwards and forwards

              Hope this helps

              Ged
              http://www.premierexpatmortgages.com
              [email protected]

              Comment


              • #8
                Re: HSBC the worst conmen

                Hi Moby,

                Generally you cant beat their rates but their service leaves a lot to be desired as they continually mess up and have clients going round in circles. If they have a good case manager then they can be ok but things don't always go that smoothly. Not knocking them as i submit cases to them but they could be better

                Ged



                Originally posted by Moby Jones View Post
                No. But I can honestly say that all of my business and mortgage dealings with HSBC have resulted in great customer service from courteous and proffesional staff.

                At the time of application the rates were market leading too! I did consult a mortgage broker, and the expression on his face was amusing when I mentioned HSBC as firstly he could not beat their rates. And secondly they don't deal with middlemen who you may end up paying a fee tot just to find you a product you can probably find yourself.
                http://www.premierexpatmortgages.com
                [email protected]

                Comment

                Working...
                X