We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Chance of a First Direct Mortgage...?
aaronb74
Posts: 20 Forumite
Hi folks,
Just wanted to get people's thoughts and experiences First Direct's attitude towards mortgage lending and how picky they are with applications.
I'm thinking of buying another house fairly soon - I originally planned to rent and wait until next year before buying again due to uncertainty over where our office is moving to (should still be in the same city, just might mean more miles to commute each day). However, a few nice houses have come up for sale and I have enough of a deposit. Ideally I'd prefer a bit more, but don't want to miss an opportunity.
Having looked around, First Direct seem to be offering a good rate which I'm tempted to go for. However, I also have a buy to let mortgage on my old house house in another city (I'm renting here at the moment), as well as 4 credit cards on 0% (reduced to 3 as of this week). I'm therefore a little concerned these might rule me out if FD are particularly choosy about who they lend to.
The remaining credit card balances are only around £2.5k (0% until June 2014 - I'd prefer to keep these offset for now rather than paying them off as some other deposit savings are tied up until next year), I don't have anything negative on my credit file, my salary is reasonable and affordability would not be a problem.
Just wanted to get people's thoughts and experiences First Direct's attitude towards mortgage lending and how picky they are with applications.
I'm thinking of buying another house fairly soon - I originally planned to rent and wait until next year before buying again due to uncertainty over where our office is moving to (should still be in the same city, just might mean more miles to commute each day). However, a few nice houses have come up for sale and I have enough of a deposit. Ideally I'd prefer a bit more, but don't want to miss an opportunity.
Having looked around, First Direct seem to be offering a good rate which I'm tempted to go for. However, I also have a buy to let mortgage on my old house house in another city (I'm renting here at the moment), as well as 4 credit cards on 0% (reduced to 3 as of this week). I'm therefore a little concerned these might rule me out if FD are particularly choosy about who they lend to.
The remaining credit card balances are only around £2.5k (0% until June 2014 - I'd prefer to keep these offset for now rather than paying them off as some other deposit savings are tied up until next year), I don't have anything negative on my credit file, my salary is reasonable and affordability would not be a problem.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards