First Direct mortgage rates cut and cheaper fees

ginvzt

No, we don't expect to ring up and get money, but when we got our mortgage before, we went into bank and asked for AIP, which was produced there and then and we did not need to choose the exact product. We did this when we had offer accepted and paid for survey/valuation.

AdamBrunt

Quick questions ...

Do First Direct charge interest 'daily' or 'annually' ?

Is there a limit on how much you can overpay in a year ?

deanos

I got the paperwork through and they are charging 2.29 instead of 1.79 above base rate when i applied for the mortgage

My mortgage is 47500 and house worth 120k so it should be in the 65% LTV band ?

ginvzt

deanos wrote: »

I got the paperwork through and they are charging 2.29 instead of 1.79 above base rate when i applied for the mortgage

My mortgage is 47500 and house worth 120k so it should be in the 65% LTV band ?

Did you try calling them up and asking why this happened?

deanos

No i will do it tonight after 7 when its free

Just wondering if its happened to anyone else,

EDIT: Found a freephone number they did indeed make a mistake

Quick questions ...

Do First Direct charge interest 'daily' or 'annually' ?

Is there a limit on how much you can overpay in a year ?

I asked for you its calculated daily and applied monthly, you can pay as much as you want

golffan

I contacted First Direct today about a remortgage and was informed that i needed to go through it with one of their mortgage team and the soonest anybody can call me back is August the 18th !!??

Also, i was told the fee was £99 but valuation and legal fees may apply. I had the website in front of me so i clicked -

"understanding our fees" (a misnoma if ever there was one)

booking fee £0
arrangement fee £99
valuation fee £yes
closure fee £yes

now it's not that i dont appreciate the effort they've gone to, in providing me with an estimate of 1p to infinity, it's just that i'm a stickler for detail.
I know, i resolved, i'll ask the lady on the phone -
"i can only see what you can see on the website" she said helpfully. "I'm afraid you'll have to ask that question on August 18th"
"there must be somebody there who knows your fees" i politely enquired, rudely hurling logic at the issue.
"only our mortgage team will know those figures and they're unavailable until the 18th August"

So there you have it. A 3 week wait to speak to their staff and a corporate secret that not even jason bourne could unearth.

Anyway, i'm off to change my company's price list -

ITEM ---PRICE
A

---

£Yes
B

---

£Sometimes
C

---

£Riddle me this...

deanos

The fees are listed above in this thread

£99 Drive by Valuation
£99 Arrangement fee
£149 closing fee

golffan

deanos wrote: »

The fees are listed above in this thread

£99 Drive by Valuation
£99 Arrangement fee
£149 closing fee

Hi Deanos,

thanks for that. i did find them here. a google search brought me to this thread.

It doesn't explain why i had to find them here and not from the staff of the company itself though???

deanos

I guess they are not allowed to advise fees only the mortgage advisor's can do that.

Thrugelmir

AdamBrunt wrote: »

Quick questions ...

Do First Direct charge interest 'daily' or 'annually' ?

Is there a limit on how much you can overpay in a year ?

Daily interest charged monthly.

Read the small print on the website for the product you are looking at.