FD New 5 Yr Fix 5.29%

Jimboceh wrote: »

Just applied for the 10 year at 5.15%!

Wonder if I should go for the five year? Ummmm

Hi... Can you tell me what 'FD' in your thread title 'FD New 5 Yr Fix 5.29%' means?

We're looking for a long term mortgage and we've been told about a 5 or 10 yr fixed rate at 5.63% from the Abbey.

Thanks.

the fees ie £598 are the same for both but on looking on the website I
cant find 10 year deal at 5.15% only offset at 5.49% !!!!
both these deals are very good at the moment but use there online calculator to see hoe much FD will lend you.
five or ten years how long are you planning to stay in your home ??
can you pay off your mortgage in 5 years ??
the offset option could be very useful in building up savings ( tax free )
and helping to reduce the term of your mortgage. GOOD LUCK

Could anyone tell me what the lending criteria is for First Direct please? We did apply in principal before and everything was fine other than my dh is self employed. He has worked for the same company for two years but doesn't get P60'S and they said without P60'S we couldn't have a mortgage with them. But he did have to keep checking with his manager so I was hoping there may be a way round it or maybe a better way for me to expalin it to them?
Sorry hope this makes sense!!

rob_kzk wrote: »

Sounds good, although can someone explain how a fixed rate offset mortgage works?!

Also, what costs are associated with this mortgage? I see there's application fees etc. of £698 and a closure fee of £149, however as i'm remortgaging will I have to pay a valuation and how much will this cost.

As I understand it I also have to open a First Direct current account. Can I use this purely for the mortgage? Also, are First Direct still giving you £100 to open a current account??

Sorry for all the questions but any help would be much appreciated.

Cheers

Rob

There are a number of threads here on this so have a look around but basically:

1. The interest rate is fixed and applied to the net of your outstanding mortgage, savings and current account balances. If you regularly have £1,000 in savings you will get no interest on that but will pay interest on £1,000 less than your mortgage balance
2. Valuation is another £99 if your property can be seen from the road
3. Yes you do, yes you could, and yes they are - but they're an excellent bank with a good online service... so may be worth moving to anyway. If you keep your current account there you will save mortgage interest instead of paying taxable current account interest.

Hope that helps...

savingspender wrote: »

Could anyone tell me what the lending criteria is for First Direct please? We did apply in principal before and everything was fine other than my dh is self employed. He has worked for the same company for two years but doesn't get P60'S and they said without P60'S we couldn't have a mortgage with them. But he did have to keep checking with his manager so I was hoping there may be a way round it or maybe a better way for me to expalin it to them?
Sorry hope this makes sense!!

We have secured a mortgage with them without sending a P60 in. The tax office has it and hasn't returned it, despite the fact the enquiry has been dealt with. We were really pleased about that, as we couldn't go and ask for a statement of earnings from the payroll as my dh had left the company.