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13/01/2021 - 11:10 am

Hi

I have a good credit score according to Experian but do have late payment history on my mortgage over 2 years old. I have applied for a mortgage with HSBC and received a mortgage in principle but now worried about the check on the history. Would I be better looking elsewhere rather than progressing with HSBC. I have a 10% deposit for a new mortgage and have had an offer on a property accepted.

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13/01/2021 - 11:11 am

Hi, thanks for getting in contact.

HSBC aren’t renowned for flexibility when it comes to credit issues however if you have an existing relationship with them that may work in your favour.

That said, they are one of the few lenders still offering mortgages with a 10% deposit so should this application not be successful there is a good chance you would need to increase your deposit to at least 15%.

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