Opinions - First National

Realist

Hi,

Need comments from people currently using First National and what they are like to deal with.

Just secured a 100% mortgage and I need to see if they are ok or just money grabbing swindlers.

Regards.

MortgageMamma

They are a lender, of course they will grab your money!

I'm guessing your credit isnt perfect so your options would have been pretty limited

I've never had a mortgage with them myself but have placed several clients with them and never had any complaints either on service or the products

Leon_W

Agree with Mamma.

They are OK and as she says, I've never had a client I've placed them with complain to me.

You may not have a perfect credit record (although that is not ALWAYS the case) with First National but keep your noses clean if that's the case and find a mainstream lender when it's remortgage time.

Best of luck

wills7

My mortgage is with FN and i've never had a problem with them - not that i've ever really needed to speak to them apart from when i wanted to chenge my payment date and they were fine about it.

Realist

Thanks guys, put my mind at rest.

Can someone also confirm the following.

£100,000 over 20 years fixed for 3 years at an initial interest of 6.69% (I think). Whats the repayment per month?

All the calculators I have used give me a figure £100 a month lower than what my advisor has quoted.

Regards.

wardlaw

HI Realist

I Make that around £769 pm is that good

John

Realist

Well he quoted £660 a month but when I try a calc I get £550 per month.

MortgageMamma

Has your broker added a fee to the mortgage?

is your arrangement fee added to the loan?

Is there a higher lending charge to add?

when you use the calculator is it calculating the interest daily/monthly/yearly?

All these thigns factor in to your monthly payment

JoeK_3

Realist wrote: »

Well he quoted £660 a month but when I try a calc I get £550 per month.

Annual Rest - £767.76 per month
Monthly Rest - £756.80 per month
Daily Rest - £755.83 per month

JoeK

Realist

Lost now guys?

All fee's are added to the loan as far I can see but if thats the case its expensive in my opinion.

Realist

Sorry guys I gave you the wrong rate its actually 7.69% fixed for 3 years.

The only info I can find on this is as follows:

A fixed rate of 7.690% for a period of 3 years followed by a variable rate which is 3.690% above the Bank of England Base rate, currently 5.250%, to give a current rate payable of 8.940% for the remaining term of the mortgage

The overall cost for comparison is: 9.6% APR taken from

So what are the payments going to be for 3 years and after the fixed rate has completed?

Regards.