FD mortgages - how long for approval?

I am part of the new wave just before they shut the door to non-customers

my timeline to date:

quoted 6-8 weeks
applied 19th March on phone
recieved application form 21st March
returned application form 25th March
got text saying now 8-10 weeks for processing
Valuation - today 28th April
Valuation received at FD and told offer docs posted out today - 6th May
Offer docs actually recieved 14th May after a call revealed that they had not posted due to processing overload still...
Edit: Faxed across my redemption statement after previously calling up FD to ask when to send across - 23rd May
Just received text saying mortgage account has happened - 2nd June - not sure if this means the remortgage has happened internet banking updated the next day. nice big minus figure there now i am sure it is going to motivate me!

total = 11weeks in total for the remortgage (2nd June with mortgage account being opened)

Comments about process so far:

The valuation was a bit of a hassle today as the 1st valuer due at 9am had car trouble so the second booked in for 3pm, but did not turn up til 430pm! waited in nearly all day! thankfully it happened.

Trying to call through to FD is a real pain over the past few weeks, I have been called back a few times to clarify which valuation and some other details but I always miss it so they leave a message which means I have to call them back which in turn means 25mins average on hold...

My existing deal ends on 31st May so hoping it will speed through now...

paulb369uk wrote: »

Well sent all my papers back for the mortgage offer a few weeks ago, got my bank account opened today (no £100 though) may turn up in a few days. With regards your valuation was it anywhere near what you was expecting as my LTV is close so need a realistic valuation to be undertaken.

Thanks

Paul

don't know, the valuer only came around yesterday and I probably won't see the report for weeks. I have not met a valuer yet who will give a verbal valuation on the spot...

Lucky you!

Our drive by valuation came in 100k less than we were expecting but we just managed to squeak in with less than 80% LTV!!....so our 10 yr fix is going ahead.

Sent the legal papers back earlier this week. Don't know what's next but hopefully we'll be remortgaged soon.

Hi, we're looking to remortgage in 6 months and FD look to have the best deals at the moment. I know you have to be a customer to get a mortgage so if we moved our current account over to them from (the frankly rubbish) A&L would we be able to apply for a mortgage or is it just for existing customers?
Thanks

We started our application in February, plenty of time to get in for the expiry of our fixed rate with Skipton at the end of April you'd think? Wrong!

FD, despite having everything else in place in early April, missed the boat on redeeming our current mortgage on the 30 April. We now have to wait another month before they can redeem it (Skipton charge a whole months interest whenever in the month you redeem) so we're out of pocket by £150 as we've gone on to the SVR.

I am really cheesed off, as up until this point they had been great. I'd done everything in good time, getting the application started early, returning the paperwork next day, and they assured us on numerous occasions that out application would be text book, and there was heaps of time to get it all done by the end of April.

FD stated that they will contact us when the mortgage is finally drawn down to discuss possible reimbursement, what that will mean I don't know.

The old adage 'no news is good news' was wrong here! There was no news because they couldn't get their !!!! in gear to sort it out! :mad: