First Direct mortgage rates cut and cheaper fees

pardal51

Nanao wrote: »

Mortgage has been approved, subject to survey. They are sending the offer in the post, and will be arranging the survey in the next few days. Yay!

Nanao, do you mind sharing the timescale of the whole process, with a breakdown of the stages??? Thanks in advance.

AdamBrunt

Also got the Enact stuff and mortgage offer in the post this morning. Got a phone call from Enact this afternoon as well.

Next step is to sign and return the offer to FD and return the Enact form to them (but haven't read that one yet)

kabads

Went through the interview whilst on holiday (and FD called me back to save money on my mobile phone).

Have received all the documents, and signed them and got a text message saying that they had been received (I am already a FD customer and so a lot of this was already set up).

Yesterday got a call asking me to call them, which was to arrange the drive-by valuation.

One slight annoyance was the FD £99 fee being added to the mortgage without my say-so. Called and got it removed and will pay from current account instead.

Another thing that I'm trying to manage is the early repayment charge (ERC) that my current lender is going on the new mortgage (about £1500) and I'm trying to pay that without it going on the new mortgage. I've phoned my current lender who said that they will put this on a redemption certificate. However, they only produce one certificate which FD will get. I've called FD to let them know my wishes as there will be a shortfall. They've noted this on my account, but it will be interesting to see if they manage this properly. My current lender think that it might be made in my next monthly payment to them, but I'll believe it when I see it.

originalmiscellany

My paperwork was sent off yesterday after a delay waiting for paper statements from my bank. I'll let you know when I receive my next communications with FD.

AdamBrunt

kabads wrote: »

One slight annoyance was the FD £99 fee being added to the mortgage without my say-so. Called and got it removed and will pay from current account instead.

Interesting. Don't know what anyone else's experience is but they told me you couldn't do that - it had to be added to the mortgage.

I just figured I'd 'overpay' it straight away anyway

Nanao_2

Here is my timeline starting from when I posted back the forms:

10/08/10: Posted forms back
14/08/10: Received letter from FD to confirm receipt of forms.
17/08/10: FD called to ask some questions. Mortgage approved subject to bank account checks.
18/08/10: FD called to inform us that the bank account checks had been completed. Mortgage approved, subject to survey.
19/08/10: Checked with FD if survey had been arranged yet - no it hadn't. Asked to get this booked in
20/08/10: Received call from EA confirming that survey had been booked for early next week. Received documents back, 1st account pack and debit cards.
21/08/10: Received cheque books
28/08/10: Received mortgage offer (was sent out before they have seen the valuation)

uzubairu

My timeline isn't as fast, but we delayed in sending the forms back to Enact, but overall it has been a painless process.
If it does complete on the day stated, it will have been 37 days in total.

July
17th: Phone interview with FD mortgage advisor (35 minute call).
19th: Received forms from FD.
20th: Posted forms back.
22nd: Received text from FD confirming receipt of forms.
22nd: FD mortgage advisor phoned OH at work (answer additional questions).
24th: Received text from FD asking me to phone them (25 minute call) and faxed back the requested documents.
27th: Received 1st Account debit cards
27th: Phoned FD to see if they had received the fax and re-sent them.
28th: Got a phone call from FD and approval subject to survey. :j
30th: Received 1st Account cheques books

August
5th: Enact contact us regarding the conveyancing and a set of forms to complete arrives the next day.
7th: Receive formal mortgage offer from FD which is posted out the same day.
12th: Forms posted back to Enact.
20th: Enact contact us with a provisional remortgage completion date of 24/08/10.

crankup

AdamBrunt wrote: »

Interesting. Don't know what anyone else's experience is but they told me you couldn't do that - it had to be added to the mortgage.

I just figured I'd 'overpay' it straight away anyway

They took mine from my current account.

AdamBrunt

Nearing the end now, hopefully.

Received texts and emails from Enact, this morning, confirming receipt of the filled in forms they asked me to send (questionnaire and mortgage deeds).

They will get back in touch when they have an expected completion date.

uzubairu

uzubairu wrote: »

August
5th: Enact contact us regarding the conveyancing and a set of forms to complete arrives the next day.
7th: Receive formal mortgage offer from FD which is posted out the same day.
12th: Forms posted back to Enact.
20th: Enact contact us with a provisional remortgage completion date of 24/08/10.

Re-mortgage was completed today.
We got text messages from Enact and First Direct.

The first mortgage payment is due on 3rd October 2010.