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HSBC UK Bank Update -Recent Section Changes

Change Date: 21/03/2019    |    Jurisdiction: England and Wales

5.13.1- If different from 1.11, contact point if borrower is not providing balance of purchase price from funds/proposing to give second charge.
Contact Point as 1.11

We do not accept personal borrowing where the funds are required to be repaid at any point in the future as a source of deposit.

Where the deposit has been gifted by a family member, then you must obtain a letter from the donor to confirm all of the following:
a) the deposit is a non-refundable AND an unconditional …
Contact Point as 1.11

We do not require you to report a gifted deposit provided that you are satisfied that the following conditions are met:

The gift is from an immediate family member(s), who confirms it is unconditional and not repayable. Gifts from unrelated third parties, including friends and employers are not acceptable.

The family member(s) must be related to one …
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Other Lenders Who Have Made Recent Changes:

Barclays plc logo Barclays plc
National Westminster Bank logo National Westminster Bank
Leeds Building Society logo Leeds Building Society