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Of Decision One, HSBC writes: “While Decision One makes the final credit decision on these loans, the mortgages are sourced by a network of independent brokers, rather than retail branches open to consumers.” HSBC goes on to make a final distinction: “The lending model of HSBC Mortgage follows a substantially different business model, and offers a different product mix, than HSBC Consumer Lending or Decision One.”
HSBC Mortgage offers normal / prime interest rate loans. HSBC consumer lending, through Decision One, HFC, Beneficial, and many brokers, offers sub-prime loans. IF you were contacted or cold-called by one of these BEWARE. This is the old disgraced predatory lender Household International!
This article, HSBC and Decision One Mortgage, is just one of our articles from our Bank Horror Stories, HSBC Secrets Part 3
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
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