First Direct mortgage rates cut and cheaper fees

pardal51

matt1987 wrote: »

They can forget it then because I dont want any credit checks just yet. All I was is what they could possibly offer me, and their eligibility criteria.

Matt, LTSB which I bank with gave me an "indication" of how much they would lend me; however to provide you with an AIP they must go through credit searches AFAIK.

matt1987

pardal51 wrote: »

Matt, LTSB which I bank with gave me an "indication" of how much they would lend me; however to provide you with an AIP they must go through credit searches AFAIK.

Cheers, thats all i want to know really. I did have a rough indication taking into consideration my partners salary but since then a lot of lenders wont take the salary into consideration due to fixed term, so now the figure various lenders are giving me is varying quite a bit, with santander being the highest at 109k to Norwich & P'bro BS being 30k!!!

AdamBrunt

Just got a text from FD saying the mortgage had been approved "subject to bank account opening checks. Once successfully completed, your valuation will be instructed"

Presumably that means I am on the final straight ?

deanos

Looks like it , how long did it take from sending in the forms to get that text.

AdamBrunt

deanos wrote: »

Looks like it , how long did it take from sending in the forms to get that text.

- Forms (and payslips, etc) were sent back on Thursday 29th July in the envelope they supplied
- Got a phone call on Thursay 5th August - asking for some documentation I'd forget to put in. Sent this the same day first class.
-Got the text this afternoon.

originalmiscellany

This AdamBrunt is where I'm up to! I've gone as far as having the phone call (45 minutes long today) with the plan of getting the mortgage booked for to come live in a few months time...
So I made a phone call today, got through instantly and sat down and chatted with a lady. Now the next step is to get the paperwork and apply...
I then need to transfer my bank over to FD from Smile bank too. But Adam, appreciate you keeping us updated so I know what to expect.

Cheers

pardal51

AdamBrunt wrote: »

- Forms (and payslips, etc) were sent back on Thursday 29th July in the envelope they supplied
- Got a phone call on Thursay 5th August - asking for some documentation I'd forget to put in. Sent this the same day first class.
-Got the text this afternoon.

Are they also sending you a formal written letter to confirm? I was told by a lady last Saturday that you go through the interview and they instantly decide whether or not to "grant" you the mortgage. Then a welcome pack will be sent asking for the docs (payslips, P60, bank statement, etc). Once you return it and they are happy they will issue a formal letter valid for 6 months. My interview is scheduled for Saturday afternoon.

AdamBrunt

originalmiscellany wrote: »

This AdamBrunt is where I'm up to! I've gone as far as having the phone call (45 minutes long today) with the plan of getting the mortgage booked for to come live in a few months time...
So I made a phone call today, got through instantly and sat down and chatted with a lady. Now the next step is to get the paperwork and apply...

I did that bit (the long phone call) over 2 weeks ago - 25th July. I then received the forms / 'welcome pack' on the 28th and returned them the next day. Bear in mind, as I said in the orignal post, that there was a 5 day delay due to me forgetting to send in all the documentation.

originalmiscellany wrote: »

I then need to transfer my bank over to FD from Smile bank too.

You don't need to transfer your bank over at all. You just need an FD account (which will be set up automatically as part of a successful mortgage application) and make sure it has enough money in it to cover the monthly payments.

pardal51 wrote: »

Are they also sending you a formal written letter to confirm?

The text doesn't say - maybe a letter will be sent out later.

pardal51 wrote: »

I was told by a lady last Saturday that you go through the interview and they instantly decide whether or not to "grant" you the mortgage. Then a welcome pack will be sent asking for the docs (payslips, P60, bank statement, etc).

Not sure how they 'grant' (or offer ?) a mortgage before they have seen any proof of income / expenditure ?

uzubairu

AdamBrunt wrote: »

Not sure how they 'grant' (or offer ?) a mortgage before they have seen any proof of income / expenditure ?

After my long phone interview, I was given a "Yes" subject to the requested documentation supporting the info I had provided.

I received a formal offer last week and the solicitors have been in touch.
We don't have to pay them anything, if the remortgage goes without a hitch.

AdamBrunt

uzubairu wrote: »

After my long phone interview, I was given a "Yes" subject to the requested documentation supporting the info I had provided.

I received a formal offer last week and the solicitors have been in touch.
We don't have to pay them anything, if the remortgage goes without a hitch.

Cool, sounds like a formal letter should be in the post for me soon then.

You don't have to pay anthing to whom ? FD (not even the £99 or the £99 valuation fee) or the solicitors ? Also, what are the solicitors doing with regards to the remortgage ?