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  • FIRST POST
    • FIRSTTIMER
    • By FIRSTTIMER 18th Mar 17, 8:05 PM
    • 268Posts
    • 52Thanks
    FIRSTTIMER
    Which credit ref do First Direct Mortgages use?
    • #1
    • 18th Mar 17, 8:05 PM
    Which credit ref do First Direct Mortgages use? 18th Mar 17 at 8:05 PM
    Experian Equifax or Both
    Savings £10000
Page 1
    • Futuristic
    • By Futuristic 18th Mar 17, 9:35 PM
    • 726 Posts
    • 362 Thanks
    Futuristic
    • #2
    • 18th Mar 17, 9:35 PM
    • #2
    • 18th Mar 17, 9:35 PM
    According to the MSE article, both.

    http://www.moneysavingexpert.com/credit-cards/credit-reference
    • MickeyDaMouse
    • By MickeyDaMouse 20th Mar 17, 8:53 PM
    • 93 Posts
    • 20 Thanks
    MickeyDaMouse
    • #3
    • 20th Mar 17, 8:53 PM
    • #3
    • 20th Mar 17, 8:53 PM
    Can confirm it's both. I bank with them and my current account details are updating every month on Experian and Equifax.
    • FIRSTTIMER
    • By FIRSTTIMER 24th Mar 17, 5:23 PM
    • 268 Posts
    • 52 Thanks
    FIRSTTIMER
    • #4
    • 24th Mar 17, 5:23 PM
    • #4
    • 24th Mar 17, 5:23 PM
    Does anyone know when do they credit check a mortgage application for existing current account customers...


    Before or after valuation? I have already had a DIP and application done and valuer's instructed.
    Savings £10000
    • Shauna85
    • By Shauna85 26th Mar 17, 3:43 PM
    • 15 Posts
    • 1 Thanks
    Shauna85
    • #5
    • 26th Mar 17, 3:43 PM
    • #5
    • 26th Mar 17, 3:43 PM
    Hey, im currently going through first direct mortgage process- existing customer with them had AIP & vaulation mortgage application is currently with underwritters.

    I think they have yet to do a credit check on me, as ive been reviewing credit file daily to see if there has been any new searches.
    Id say now its at the underwritters itll be done.
    • Shauna85
    • By Shauna85 26th Mar 17, 3:45 PM
    • 15 Posts
    • 1 Thanks
    Shauna85
    • #6
    • 26th Mar 17, 3:45 PM
    • #6
    • 26th Mar 17, 3:45 PM
    Would be interested to know how long it took the undeewritters to approve you firsttimer?

    Thanks

    S
    • FIRSTTIMER
    • By FIRSTTIMER 26th Mar 17, 6:15 PM
    • 268 Posts
    • 52 Thanks
    FIRSTTIMER
    • #7
    • 26th Mar 17, 6:15 PM
    • #7
    • 26th Mar 17, 6:15 PM
    I am not there yet....but I am exciting customer too


    AIP - Accepted
    Mortgage Telephone AIP - Accepted/Same Day Approval
    Valuation - Due this week with a 48 hour return to FD
    Underwriters apparently have a 72 hour turnaround to say yay or nay and then ur mortgage advisor assigned to you will do the paperwork etc and send out offer
    Savings £10000
    • Shauna85
    • By Shauna85 26th Mar 17, 6:29 PM
    • 15 Posts
    • 1 Thanks
    Shauna85
    • #8
    • 26th Mar 17, 6:29 PM
    • #8
    • 26th Mar 17, 6:29 PM
    72 hours! Great! Mine went on thursday afternoon, i would assume they dont count weekends in the turnaround time.

    Although I know all should be well, i am weiry! They didnt want any documentation at all!

    I instructed the valuator on Monday, valuation completed tuesday and countrywide emailed me a copy of the report on wednesday! Nothing to complain about thus far! The valuation was free so that was nice!
    • FIRSTTIMER
    • By FIRSTTIMER 26th Mar 17, 6:34 PM
    • 268 Posts
    • 52 Thanks
    FIRSTTIMER
    • #9
    • 26th Mar 17, 6:34 PM
    • #9
    • 26th Mar 17, 6:34 PM
    Yes and again they credit check at underwriters and credit check again before releasing funds to solicitor - very through in terms of processing but very time consuming for customers
    Savings £10000
    • Shauna85
    • By Shauna85 26th Mar 17, 7:03 PM
    • 15 Posts
    • 1 Thanks
    Shauna85
    Again before releasing funds to solicitor!! So you could have gave your mortgage deposit at exchange and then u could potentially fail at the releasing funds so solicitor stage losing your dep?? Obvs ill continue to conduct well! But wow!
    • FIRSTTIMER
    • By FIRSTTIMER 26th Mar 17, 7:14 PM
    • 268 Posts
    • 52 Thanks
    FIRSTTIMER
    no it'll be at exchange - most solicitors request funds at this stage - as its only a max a week between the two usually
    Savings £10000
    • Shauna85
    • By Shauna85 26th Mar 17, 11:04 PM
    • 15 Posts
    • 1 Thanks
    Shauna85
    Oh i dont really understand, i thought exchange you gave ur 10% of your saved money & then on completion thats when the bank gives the money to the buy/solicitor (im not sure which!) However im a FTB and a bit niaeve to the process! So i def could be wrong!

    Best of luck with your valuation!
    • Shauna85
    • By Shauna85 28th Mar 17, 5:25 PM
    • 15 Posts
    • 1 Thanks
    Shauna85
    Awe we update from me on FD mortgage, underwritters called today queried a couple of transactions on my bank statements and she approved at the end of the call! Very happy! Does anyone know if theyll send the mortgage offer to my solicitor or do I do that??
    • FIRSTTIMER
    • By FIRSTTIMER 28th Mar 17, 5:50 PM
    • 268 Posts
    • 52 Thanks
    FIRSTTIMER
    they issue one to you and one to solicitor
    Savings £10000
    • FIRSTTIMER
    • By FIRSTTIMER 3rd Apr 17, 8:43 PM
    • 268 Posts
    • 52 Thanks
    FIRSTTIMER
    Did you get your mtg offer? Any issues with them since?
    Savings £10000
    • Shauna85
    • By Shauna85 4th Apr 17, 7:17 AM
    • 15 Posts
    • 1 Thanks
    Shauna85
    hello!

    currently awaiting the mortgage offer in the post... finding this a bit slow as it was approved this day last week. when i phoned FD they said it was with credit approvals and then then the legal team. ( i think its only with the legal team because I need a document for my husband to sign which states he wants nothing to do with the property if all goes wrong, im taking the mortgage in my name only).
    Meanwhile my solicitor is hesistant to do any of the background work until ive had the offer - shes no sale no fee. this is also only an issue because im buying a repoession which has to be on the market until exchange of contract!

    it was all going so fast - now nothing! for a week. im just impatient!

    how are you getting on?
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