The Association of Mortgage Intermediaries (AMI) has slammed HSBC for abusing its position and attempting to steal business from other banks by forcing homebuyers to consider its own mortgages.
Mortgage Solutions understands Woolwich requires applicants for its mortgages who have an online current account with another bank to provide bank statements endorsed by a stamp and a sign-off from a branch. However, HSBC will not provide this stamp and sign-off for its online current account customers unless they agree to meet with one of its in-branch mortgage advisers. Several brokers contacted Mortgage Solutions to say they were angered at the opportunistic practice from the lender, who has been vocal in its negative attitude to brokers. Chris Cummings, director-general at AM...
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