He says it applies to non-standard properties and especially those with restrictive convenants, so affects in particular some homes with land.
He says the latest email he has seen from HSBC’s mortgage division contains this paragraph:
“These restrictions impede HSBC's ability, in the event of possession, to obtain a fair market value for the property and therefore compromises the integrity of our security. Therefore, where it becomes apparent that there is a restrictive covenant in place we are unable to lend and the application will be declined and returned to the branch.”
Read the full Estate Agent Today article here