First Direct - how to get AIP

Swafe

leccyblue wrote: »

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.

Cheers, yep that seems to be the way I was going to go if my offers accepted, it turns out HSBC do similar deals but I always thought FD were slightly better, seems they are but HSBC now offer a 70% LTV which FD do not, so if I can squeeze a few more savings to up myself from what I was expecting (75%) then HSBC would actually work out slightly better for me