Documents for First Direct Remortgage

Silian

Hi,

Has anyone recently applied to remortgage through First Direct? What documents did they request?

• Bank statements for last three months (for all bank accounts, or just your main ones?)
• Credit card statements (for all of them, or just for those that I don't pay off each month?)
• Payslips
• Previous mortgage statements?
• Statements for loans?

Anything else?

(I'm starting to prepare for my remortgage application a few months from now and want to ensure that I know how to request it. Maybe get some of them beforehand if it will take a long time)

Thrugelmir

Remortgage or new product? These are 2 distinctly different matters.

Silian

Remortgage. I'm just doing this for a (much) better deal. But my current mortgage is with a different provider (Halifax)

GolfFoxtrot

My move to first direct (re-mortgage from skipton) will be complete this month.

We provided payslips, bank statements and P60's to prove overtime. There was no credit card requirement and we don't have any loans.

The hardest thing they asked for was a certified copy of our passports and proof of address as we're not currently FD customers. The list of those able to certify was pretty small and they won't accept post office certification.

Silian

Thank GolfFoxtrot!

Was it painful? I'm still not sure if I should rather go to a broker. But last time I went through I broker and to be honest I wasn't that impressed with him.

Also, did they come out for a valuation, or did they do an online valuation?

GolfFoxtrot

They came out last Tuesday for valuation and we had the report back by the end of the week, valuation took about 2 minutes.

We had no debts and could easily meet affordability so we went direct. They were very easy to deal with apart from some long waits on the phone for chasing them up.

Our only complexity is car payments deducted from salary (which our last broker couldn't grasp) and they were really good about it and didn't ask for more info.

The move will save us around £200 per month.

Silian

Thanks, I was hoping they wouldn't come out for the valuation. We bought a "fixer-upper" and while we've done a LOT of work there is still a LOT outstanding (and a lot of half-finished projects around the house). I'm especially worried that the half finished projects will count against us as the person who validates it will have no idea just how bad the house was when we got it.

We can also easily meet affordability. Based on our current savings rate we can go up to about 13% (and I think we only have to be able to afford up to 7%).

Thanks again for your help. It is good to know that it isn't too painful to go direct.

GolfFoxtrot

We also purchase a house which need work. Luckily we were able to tidy up and make the house presentable for the valuation.

The guy seemed pretty relaxed though and asked if it was for a remortgage.

He didn't even mention the garage which is classed as "semi derilict" during our purchase and we've not done any work to make it safe yet.