First Direct Text Message

Tomsdad67

Hi

Having received a Text from First Direct last week confirming receipt of my application. I received a call from one of their U/W's today.

The whole experience was a bit like being on Mastermind with a specialised subject of my finances.

Later this afternoonI received a Text saying my mortgage application has been approved subject to valuation.

What does this mean?? and does anyone have any experience of how rapid First Direct are at getting a Valuation arranged and subsequently getting on with issuing the offer.

Wutang_2

Are you asking what the text message "your application has been approved means"?

Have a guess. If no luck, have another guess.

Tomsdad67

If your going to reply Wutang at least be helpful, otherwise keep your wise cracks to yourself.

What I would like to know is does this mean they are happy with my Credit Score etc I am assuming yes.

But you will note I have asked some additional questions I.e does anyone have any experience of how quickly First Direct sort out the valuation and after this has been completed how long they take to get an offer out.

Thanks for Nothing Wutang

Edale

We are about to exchange having used First Direct, they instructed the valuer straight away on the Thursday and the valuation was done the next Tuesday with the surveyor sending the report that evening. So far FD have been fantastic although I will agree they are very strict with their underwriting and income multiples. Give them a call and they will be able to tell you if the valuer has been instructed and when it is likely to happen.

Approved subject to valuation means exactly that: you have been approved for the mortgage and as long as the property values as per your application they will issue a formal mortgage offer.

Tomsdad67

Thank you, It's good to see there are still some on this forum able to be helpful.

When you say that FD instructed the valuer on The Thursday was that the same day they confirmed you mortgage application subject to valuation.

Out of interest did you just have a Mortgage Valuation or more? We are having a homebuyers.

Thanks again for your useful input

Edale

It was a bit more complicated in that I applied for the mortgage before we had finalised the negotiations on the house. Once I had agreed the price I contacted them on the Thursday as above. We also went for the homebuyers, the house we are buying was built in the late 60s so I wanted to make sure. I felt that when spending that amount of money it would give peace of mind.

Good luck with everything.

Tomsdad67

Very Helpful Thank you

Does anyone else have any experiences of FD's processing times or any curved balls they may throw in at the last minute?