First Direct - how to get AIP

Swafe

Hi all,

Found a house I want, so, trying to get an agreement in principle,

Went to their site and clicked through to apply, and it looks to me that you apply there if you have a property as its asking me what surveys I need and quoting prices this will cost, if I carry on will I get charged this and have someone expecting to value the property or will this only happen once I've been accepted and take them up on their offer?

Also, do you normally need to sit down with the man from the bank who has the money, or does this not happen in the age of internet banking, I guess it would be at a HSBC branch if so?

New so this, so sorry for probably silly questions!!

Turtle

When we applied with them I did it all on the phone, I don't think you sit down with anyone these days. Just ring them and ask.

Swafe

Cheers, might be best for me to bell them then, just thought it would be easier to do online, how long did it take them to get back to you on a decision?

Thanks

Turtle

Oh well it's 15 years ago now but from what I recall they told us there and then, ie in the same phone call. It takes a while to go through all your income and outgoings but then they look at how much they'd lend you based on salary multiples and if that was affordable on what you had left after bills and stuff and it went from there. In all honesty I can't remember if we'd already seen our house when I called but I'm sure there wasn't any waiting for the decision.

Swafe

Hmmm, ok well the phone call wasn't very helpful, so Im still none the wiser, anyone registered recently who can adivise? Dont want to commit to paying a survey fee if my offer doesnt get accepted

Turtle

How was it not helpful? Did you say you wanted to get an AIP and how long did you have to wait for answer?

Swafe

Well I called up and ended up getting my account blocked, his opening line was question was what was hello sir, can i take your postcode? and then when I said I only had an inquiry that now we had started security questions I had to complete them otherwise my account would be blocked, I proceeded just to prevent this but it seems that my internet password is not the same as my telephone password (never used tele banking before)! so yeah, bit of a mess, he then wanted to call me back on a different number so i thought it sounded a bit dodgy, when I finally got around to asking the question he didnt give me much info and I cant even apply now because my account is blocked

Turtle

Ah ok, it's not dodgy that they call you back on a different number. You have to do security so they can put notes on your account in case you ring back I think. Saves you going through the same thing again. I would definitely go through whatever you need to do to get your account unblocked because then you can actually speak to someone in the mortgage dept and that WILL be helpful!

Swafe

I know, it just rung some alarm bells to be honest, I called up and my home phone no is on my account so he should have been able to see it already, but he insisted I gave it him , then when calling me back (not sure why he needed to call back in the first place when I have him on the phone already?) he then wanted all my card details, normal security I get asked are name, address, date of birth, recent purchases or maybe a few digits from your card, I always thought they said you would never get asked for pins/card nos over the phone, maybe their security is more thorough than others but didnt sit well when I know people who have been scammed in similar ways, no other security vetting I've had has included being called back on a different phone number for what seems to be no reason

Swafe

HSBC website is a lot more straight forward, AIP within minutes, offer put in, waiting game begins

leccyblue

Hi,


First Direct don't really do an AIP. You have to submit a full application, which will then result in a formal offer, which is subject to valuation.


We've been through this process over the last few months, completed on our house two weeks ago. We didn't need an AIP as we were purchasing from family, so didn't need this piece of paper to wave in front of an estate agent / vendor.


If you want to go with First Direct, then just get an AIP from a different provider, preferably one that only does a soft search (e.g. Halifax) which leaves no footprint on your credit file. Then once you have had an offer accepted on a house, make your full application with First Direct.


You can use the tools on FD's website to get an idea of what they will lend you. If you have any debt, remember to deduct 5% of the outstanding balance from your salary to get an accurate idea of affordability.