Agreement in Principle from Abbey/Santander

jonny_power

Hi,

Our broker has got an AiP approved by Abbey/Santander. He's provided us with a reference number and in the email provided details of the product. Am I missing something? Do we get some kind of pdf/certificate? He explained the product but I thought we'd get some more details like repayment schedule, length of AiP etc. I've emailed him back and he said he'd respond later but we're FTB's so just wanted to double check first!

Thanks

jonny_power

Ignore! He's sent through the certificate, apparently it can take a little while to be emailed through by Abbey.

Crashandburn

Certificate is instant to your broker. Just says Abbey are willing to help help you on the face of the initial request. No specifics as to rates/term/fees etc.

Does it have a AA number at the beginning? If so, then its sounds fine. He may be busy and just needs to log into their site to download the certificate.

You should get a Key Features Illustration before you proceed with the mortgage though which will give you the repayment/term/fees bit

jonny_power

Crashandburn wrote: »

Certificate is instant to your broker. Just says Abbey are willing to help help you on the face of the initial request. No specifics as to rates/term/fees etc.

Does it have a AA number at the beginning? If so, then its sounds fine. He may be busy and just needs to log into their site to download the certificate.

You should get a Key Features Illustration before you proceed with the mortgage though which will give you the repayment/term/fees bit

Yes it's got an AA number and he's done a KFI for the mortgage as well so all is good. Just a bit new to it all so a bit stressed. Feel like we're over the first (small) hurdle though

kford224

jonny_power wrote: »

Yes it's got an AA number and he's done a KFI for the mortgage as well so all is good. Just a bit new to it all so a bit stressed. Feel like we're over the first (small) hurdle though

Have you checked you're on the best rate? Our mortgage broker got us an AIP with Abbey/Santander at 6.19% but then found a better rate at 5.45% when you apply directly. We ended up phoning and applying ourselves and are saving nearly £100 a month in repayments

jonny_power

kford224 wrote: »

Have you checked you're on the best rate? Our mortgage broker got us an AIP with Abbey/Santander at 6.19% but then found a better rate at 5.45% when you apply directly. We ended up phoning and applying ourselves and are saving nearly £100 a month in repayments

yes we noticed that too, but we thought we'd cross that bridge when we came to it.

jonny_power

kford224 wrote: »

Have you checked you're on the best rate? Our mortgage broker got us an AIP with Abbey/Santander at 6.19% but then found a better rate at 5.45% when you apply directly. We ended up phoning and applying ourselves and are saving nearly £100 a month in repayments

just another thing, how was your broker after you (presumably) told them you were going to apply direct?

kford224

jonny_power wrote: »

just another thing, how was your broker after you (presumably) told them you were going to apply direct?

He actually found it and recommended we phone up and apply directly. He has been very supportive since too and helped us find suitable mortgage insurance...etc

jonny_power

kford224 wrote: »

He actually found it and recommended we phone up and apply directly. He has been very supportive since too and helped us find suitable mortgage insurance...etc

That's reassuring, thanks!