First Direct mortgage rates cut and cheaper fees

sebtomato

If you haven't see this yet, FD has reduced today the rates of many of its mortgages, and has reduced the arrangement fees to £99 for all of them, making their already market leading mortgages even better now.

If you have applied recently for a mortgage, you can call them to get the arrangement fees reduced. I applied last week, called today, and saved £900.

Cheapest offset mortgage is now 2.49% (BR + 1.99%) for 65% LTV, with £99 arrangement fee (was £999 yesterday!).

Cheapest tracker mortgage is now 2.29% (BR + 1.79%) for 65% LTV, with £99 arrangement fee (was £999 yesterday).


More details:
http://www.thisismoney.co.uk/mortgages-and-homes/mortgages-features/article.html?in_article_id=507745&in_page_id=58

Thrugelmir

sebtomato wrote: »

If you haven't see this yet, FD has reduced today the rates of many of its mortgages, and has reduced the arrangement fees to £99 for all of them, making them even better leading deals now.

If you have applied recently for a mortgage, you can call them to get the arrangement fees reduced.

Some details or a link would be useful.

Gorgeous_George

Thrugelmir wrote: »

Some details or a link would be useful.

google 'First Direct Mortgage' and the first hit is here.

GG

Thrugelmir

Gorgeous_George wrote: »

google 'First Direct Mortgage' and the first hit is here.

GG

Much easier to view and discuss if its infront of you to read.

Thrugelmir

sebtomato wrote: »

If you haven't see this yet, FD has reduced today the rates of many of its mortgages, and has reduced the arrangement fees to £99 for all of them, making their already market leading mortgages even better now.

If you have applied recently for a mortgage, you can call them to get the arrangement fees reduced. I applied last week, called today, and saved £900.

Cheapest offset mortgage is now 2.49% (BR + 1.99%) for 65% LTV, with £99 arrangement fee (was £999 yesterday!).

Cheapest tracker mortgage is now 2.29% (BR + 1.79%) for 65% LTV, with £99 arrangement fee (was £999 yesterday).


More details:
http://www.thisismoney.co.uk/mortgages-and-homes/mortgages-features/article.html?in_article_id=507745&in_page_id=58

Thanks for updating the thread.

fraser

looks a good deal, spotted this yesterday and agreed a new mortagage AIP valid for 6 months today

mantamark

Rang them up today, they are calling me back tuesday to sort it out.

Thought they would do it there & then?

sebtomato

mantamark wrote: »

Rang them up today, they are calling me back tuesday to sort it out.

Thought they would do it there & then?

To sort what out? I called them to say that my mortgage application was under way, but I wanted the new reduced fees, and they took action right away. Best phone call of the week, saving me £900!

mantamark

i'm remortgaging, moving into a new house, phoned up for a new application, said that was soonest they could go through application with me, will take 40mins.

sebtomato

mantamark wrote: »

i'm remortgaging, moving into a new house, phoned up for a new application, said that was soonest they could go through application with me, will take 40mins.

I did the application on the phone with them last week. Called at around 3pm, and went through the application process right away, with the mortgage department. It took about 30 minutes, and they then sent the papers 3 days later to complete (forms pre-populated).

I guess they have been getting a surge of applications, due to the reduced fees and new rates, so they couldn't handle your request on the phone on the same day, as all their mortgage advisors were busy.

maggiemayhem

I think that this is a very good deal.

The rates across all their products are very competitive (often market leading) and with this special offer they have in effect done away with the arrangement fee (which does make a difference - especially to a small/medium mortgage (mine is £80,000-£90,000) - they have also let customers who have already begun the process get the deal - and this bodes well for being a customer.:T

Also from what I have read, I particularly liked the sound of First Direct or the Co-operative Bank as lenders ( though I will keep you posted on this once I am an actual customer!)

I am going for a life time tracker but If you have an LTV of 65% I think the 5/2 year repayment deals are also very good ( I had a hard time choosing between these three and - it really came down to my own personal circumstances and view on how soon interests rates will raise!)


I am going for a lifetime tracker as good rate and it will not cost a lot to get or leave this deal (I have learnt to always read the small print!:eek:) Also First Direct are often Market leaders with rates so with a bit of luck when the time comes I may be taking out another deal with them so no exit fees and a lot simpler - (well that's the theory).

mantamark - Similar thing happened to me. Mortgage advisor's were all busy and I have also made an appointment for Tuesday.

fraser - 'spotted this yesterday and agreed a new mortgage AIP valid for 6 months today'
I don't understand what AIP means? and can they decide there and then whether they are going to give you a mortgage?

I am a bit concerned about the application process. I am going for the offset lifetime tracker and I have been told a minimum of 5 to 6 weeks for processing. Could anyone who has been through this process please write the steps that happened to them ( as I did ask - but got lost pretty quickly on the phone - and would really like to know what I am doing before Tuesday.).
Also this may be a very stupid question but how do you sync ending your current mortgage with starting the new one?
The mortgage is £80,000 but I would also like to increase this for home improvements does any one know how this works?


Any help with any of these points would be much appreciated.