First Direct Mortgage Application - How long did it take?

Nicholajp

Hello all,

We started the process of taking out a new mortgage with FD, currently with A&L, about 2 weeks ago. So far our new bank account has been set up and our mortgage offer has been agreed, subject to survey. How long did it take for your survey to be done after you heard that your mortgage had been agreed? And once the survey had been done how long did it take for the process to complete? We were advided the process would take 12-14 weeks, but things seem to be moving faster than expected.

Thanks so much,
Nichola

pokey128

Our survey was done last Friday (instructed by FD on the Wed) and I called FD yesterday to confirm that the funds would be transferred on Monday! The rest of the process for us was slow cause I was waiting to get our kitchen finished!

Good luck!

spuds_2

The time quoted always seems to be 10-12 weeks, though I have read that they process things more quickly if you are already a FD customer. I would be interested to know what the times are in reality. I wondered if they quoted such a long completion time as a deterrent because FD mortgages are amongst the best deals at the moment.

jayremoh

pokey, how long from start to end?

dave_ave

Mine took 6 weeks from initial on line application to it completing on Monday this week, but I had Christmas in between and I'm a customer already. I've been with the bank for around 17 years and I think they're great with a no nonsense approach.

Damok666

Mine completed on Friday and took 10 weeks for us as new customers (which includes Christmas etc). It could have been quicker but they lost some paperwork we sent them and it took best part of 2 weeks to sort that mishap out. Apart from that they were very good though.

daveb975

We were quoted the standard 10-12 weeks from the receipt of the signed application form. We are existing customers

We sent the form back exactly 3 weeks ago, and today received the offer letter to sign and return. The surveyors were instructed on Wednesday, and will carry out the survey on Monday.

The offer letter assumes a switch over date of 1st April, which would be near enough the original 12 weeks, but I am hoping it will be quicker than that.

pokey128

jayremoh wrote: »

pokey, how long from start to end?

I did the application back in October and it must have taken about 3 weeks for the paperwork to come through after we sent off our payslips etc.

I then halted proceedings so that we could get our kitchen done and Christmas out of the way etc but if we hadn't halted things then I reckon we could have been on for end Nov

rammster

all done and dusted including valuation in 3 weeks, but i am a fd customer

Organic12

Initial call with the FD mortgage dept 12 Oct 2008. Mortgage was drawn down 1st Dec 2008. Was a new customer to FD. Think survey and all paperwork was done within 3-3.5 weeks.

daley_lama

Organic12 wrote: »

Initial call with the FD mortgage dept 12 Oct 2008. Mortgage was drawn down 1st Dec 2008. Was a new customer to FD. Think survey and all paperwork was done within 3-3.5 weeks.

Another new customer to FD, mine took the full 12 weeks but there was a case of missing paperwork which held it up for 3 of those.