NB in the United Kingdom said: “I have heard rumors that the HSBC are instructing their mortgage valuers to deliberately undervalue properties when arranging mortgages. I accepted an offer on a property of £190,000. 2 months later i was advised that HSBC refused the buyers a mortgage for this sum on the basis that the property was overvalued by £10,000, and hence we grudgingly accepted a second offer from the buyers of £180,000. Furthermore, the HSBC demanded excessive paperwork, planning and Building Regs histories, utility services, etc, all of which are supposed to be included in the statutory homebuyers pack you now have to commission by law in the UK before a property is marketed.
Anyone heard anything else about this? I am obviously aggrieved at the losses resulting from the HSBCs actions, and if the HSBC are fraudulently compromising the professional opinions of their building surveyors, there would seem to be a big issue here.”
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