First Direct cuts fixed rates

ema_o

PeteHi
How far in the process are you with FD and are there any implications other than the extra reservation fee??
We just paid our reservation fee for the 10 year fix last Fri but don't want to delay getting the mortgage!
Also are you FTB or remortgaging??

PeteHi

ema_o wrote: »

PeteHi
How far in the process are you with FD and are there any implications other than the extra reservation fee??
We just paid our reservation fee for the 10 year fix last Fri but don't want to delay getting the mortgage!
Also are you FTB or remortgaging??

I'm remortgaging to them...

it would be impossible to be any further along than I am with it... the money was to be transferred to my current lender this afternoon!

They assure me there are no other implications or costs than the £299 reservation fee. That will pay for itself in a few months time with the reduced monthly payments.

Theyre sending out new 'key facts' in the post today and assure me everything will be done within the next 2 weeks.

ema_o

Spoke to FD late yesterday and if we decide to change there won't be any delay for us either. The difference will be paid off in a couple of years for us though rather than months.
I reckon we'll keep checking rates and decide nearer the time - if they go up at least we have reserved the 6.19 rate and if they go down further we'll only pay the reservation fee once more! It's all so complicated! In theory it would be worth the reservation fee again, but that's assuming everything goes okay with the house we're buying, if not I'd be kicking myself for paying it!