Starting the mortgage free path

bownyboy

Luckyinlife wrote: »

if you could get that would be great is a low rate indeed

Hopefully you can get something sorted whats your ltv currently ?

Would be great indeed! LTV is about 12% so pretty low.

bownyboy

Called Tesco Mortgages yesterday and they have given me a decision in principle over 11 years rather than the 10 I requested. Makes no difference as I can do 20% a year overpayments if I need to.

Call with their mortgage advisor on Thursday to run through the details.

Hopefully everything will go through!

bownyboy

So had a 40 minute call with their mortgage advisor today and everything has gone through. New rate of 2.19% fixed for 5 years with an estimated start date of 1st Feb.

Term is over 11 years at £766 a month, but I'll overpay by £50 a month to bring it back to 10 years.

Really chuffed with this rate, would never have thought they would have been this low!

bownyboy

Received paperwork and had follow up call yesterday with Tesco mortgage advisor. They actually offered me the loan over 10 years once they ran the numbers but decided to keep it at 11 with option to overpay.

Paid the £195 fee and now we have 90 days to complete. Countrywide called me 1 hour later to arrange valuation.

Must say I'm impressed so far with Tescos professionalism. At this rate we will be all done in a week or so.

Hopefully it will

bownyboy

So quick update. Valuation came through as spot on what we suggested it was (funny that!). Payslip and bank statements reviewed and mortgage offer has been formally approved.

Just have to sign some paperwork from their solicitors and then we're good to go.

Just over 3 weeks from start to finish and a week of that was due to us requesting the valuation the following week.