Decision In Principle

So I have been reading up on mortgages on the HSBC website and having a boyfriend who has gone through it all before I know that getting a decision in principle on what type of mortgage you can get is great for when you are making offers on houses and signing up with estate agents, they always offer their own mortgage services and you need something to compare their offer too, and it makes the buying process a lot quicker.

I went into my nearest HSBC branch at lunch and asked to be booked an appointment with the mortgage advisor to get a decision in principle and luckily I could get a meeting the next day in my lunch hour because I was starting to have nightmares about never being able to get a mortgage being laughed out the branch and so on and wanted to get it over with quickly. I was told to bring any financial paperwork I had and that night I organised everything including three months payslips and three months bank statements and all the ISA paperwork I had etc etc.

Got there the next day and was completely underwhelmed, it wasn’t half as scary or serious as I had made out in my head! The guy was twenty minutes late to start, didn’t ask to see any of the paperwork I had brought and we basically just filled out a questionnaire together… Not exactly my idea of the interrogation to get a decision in principle that I totally expected!

After finding out how much HSBC would be happy to lend me, which was printed off and signed, we then looked at possible mortgages for the house price I wanted and the loan amount I needed. I got printed and signed copies of all these too. They were two years fixed one with fees one without and five years fixed one with fees one without. The ones with fees at the start gets you a better rate and so a lower monthly repayment and the fees amount to roughly …

So after all my worrying it was absolutely fine and I walked out a bit bemused at the casual chat and feeling a little silly about how overworked I’d been about it.

Does anyone else build up situations in their head? Because clearly I definitely do!

Thanks for Reading xx


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