First Direct mortgage rates cut and cheaper fees

AdamBrunt

Well, my application seems to be going fine at the moment.

All the bank account stuff came through post today

michaels

I did this with FD earlier this year for similar reasons although with only a 3 week overlap, however I was in a position to pay off the mortgage on the first property when the second one completed so only had 1 mortgage outstanding - would you be able to do all the mortgaging required on just one property?

Jackinbox99 wrote: »

Why would not selling my existing house at the same time as buying the other house raise any concerns tho? As long as i can afford the repayments and have a large amount of equity in the current house.

The new place is habitable, but needs some work on it, which will take a month to sort out. Not only that, ive got so much stuff in my house id prefer to move it over a few weeks. Because I can afford it, it seemed like the easiest stress free way of buying / selling a house.

The new house is not from auction, but the vendors have specified has to be completed within 28days as a condition of accepting my offer.

deanos

Mines going pretty fast, sent the application back, had a letter from there solicitors and deeds form to sign and send back and a letter from there valuation company today as well, i think they will just use Google Streetview to do that might be wrong

jamesd

Even for a valuation they clearly did an internal inspection in my case. If you ask them to, First Direct will probably do what they did for me, email a copy of the valuation report.

wangtao

just thought I would update, text messages to say application recieved at FD on the 17th July, Mortgage approved today 21st July.The reason being, they have had so many applications, they can afford to pick the cream of the crop to lend to, and have adopted a very conservative approach to picking applicants.

originalmiscellany

I'm getting my bank statements through from my bank (Smile) so that I can then include this info in my pack to First Direct - as Smile is online statements only. Will get thee through soon I hope

deanos

jamesd wrote: »

Even for a valuation they clearly did an internal inspection in my case. If you ask them to, First Direct will probably do what they did for me, email a copy of the valuation report.

Mines a drive by valuation , is yours the same ?

jamesd

"Floors are subject to some deflection often found in properties of this age and construction". I doubt that he could have that information without going inside.

I also had a nice phone conversation with the surveyor who did the valuation today. Helpful chap, who recommended that I not commission a homebuyer's survey or building survey from him and was happy to discuss the work I was considering and the potential value implications.

Was also interesting that he thought that the works he'd suggested and that I intend to do might produce a value increase of 30-50%. I have reservations about that, but it's a nice thing to hear anyway.

sebtomato

For people transfering their current accounts to FD, beware! The process is not as seamless as they would make you believe.

Since I am getting an offset mortgage, I have also open a current account with them and they initiated the transfer of all Direct Debits (about 10) and Standing Orders from my current bank. Transfer was due to be done by the end of July, and they are all showing online as set up on the FD account.

However, all of them have a last payment online showing as "£0", despite the fact that at least half of my Direct Debits are typically debited at the beginning of the month. Not a single debit is showing on the current account statement as per the 14th August (almost half way through the month). My various Standing Orders are showing online with a value of "£0" (when I click on "amend payments").

My gym tried to debit my monthly subscription and it bounced, so I got denied access this week. They say they have the correct new account details, but couldn't take payment.

Talk about "no impact to customers" and seamless experience. I suspect this is just the beginning, and I am expecting lots of letters from utility companies etc.

I called FD and said it was not looking good, but the lady I spoke from the transfer team to said they had done anything they had to do, and it was not their fault. She was very positive (not helpful) and not willing to do other checks. It was also normal to have Standing Orders showing as "£0" until the first payment was "taken" (I guess first payment of "£0"???).

getmore4less

sebtomato wrote: »

For people transfering their current accounts to FD, beware! The process is not as seamless as they would make you believe.

Since I am getting an offset mortgage, I have also open a current account with them and they initiated the transfer of all Direct Debits (about 10) and Standing Orders from my current bank. Transfer was due to be done by the end of July, and they are all showing online as set up on the FD account.
..........QUOTE]


Is there a requirement to actualy move your banking?

There shouldn't be

I would just let them open the account an leave everything else as is to start with.