Ftb

MattJ_2

Hi all,

Looking to purchase a house for 110,000 with 11/12,000 deposit

Natwest and RBS have said they would lend us the money required with Natwest offering 2 years fixed at 5.49% and RBS 2 years at 5.59% - we have agreements in principle from both of these.

First Direct are offering 2 yr fixed at 4.89% with no fees and with valuations included and are sending out an application pack in the post.

Our IFA has said that HSBC or Northern Rock may also be an option based on affordability calculators so I was just wondering if anybody had had any experience with any of the above?

We are ready to put the offer in on Monday.

Would it be any quicker going through somewhere where we can go into a local branch to sort things out instead of posting documents off to First Direct for example?

We are in a great position to move in, no chain and the seller is moving out this week or next anyway.

originalmiscellany

Well, I moved to FD 2 years ago, and was very impressed with their service. Loads of post, phone calls etc. I felt I was in the loop at all times.

I think it would be the same with HSBC as they're the same company.

MattJ_2

Yeah, they seemed good on the phone. Will see what tomorrow brings!

Dave_Ham

Great rates - most selective

Type HSBC mortgage into the search bar at the top and search forum only. Make a cup of tea and have a good read

Good luck

MattJ_2

Avoid them eh.

IFA also looked into Accord, Halifax and Nationwide but they would not lend the full amount needed.

Dave_Ham

Take the deal you have been offered in principle.

If Halifax did not lend the amount you need, no way HSBC or First Direct will...

All the best

MattJ_2

That is both Natwest and RBS.

I bank with Halifax and they were shocked they couldn't lend the money if RBS and Natwest could as "main rivals".

Guess it will be out of those two then

MattJ_2

Scared now! IFA cannot get the 90% LTV Deals from RBS or Natwest so he has reccomended we go alone!

With the offer accepted we need to get this sorted asap and find a new solicitor fast!

Dave_Ham

Firstly, you do not need a new solicitor. So long as you can get a mortgage, they can carry on as instructed or not depending upon results I presume.

Can you please confirm exactly what amount you are borrowing and details of your income.

I should be able to tell you quickly whether it is achievable. Also detail any outstanding credit commitments and anything else poignant..

Cheers

Marmaladebramble

Apologies for hijacking. I have ftb offer in on 112k house with 13k deposit and am just waiting response from hsbc. My credit report is good with exception of two missed payments just over a year ago. Basically direct debit set up on wrong date, missed it, tried to change date, it failed hence th two late payments. The account was then paid off in full and have no loans or credit car balances. So just waiting decision, but reading how (understandably) fussy hsbc can be, a little bit anxious!

splicecom

Worth keeping YBS in mind - £295 fee and 4.79% - 2 year fixed 10% dep