First Direct/HSBC Remortgage Deed Conditions 2012

Thrugelmir · 25 February 2018 at 11:06PM

Tomis000 wrote: »

No it was first direct's choice. The covering letter to us says they will be acting on their behalf and not ours. I may just take the hit and get our solicitor in.

Did you ask them to act on your behalf as well? Lenders will always use approved solicitors. Unfortunately some have proved less than scrupulous in the past.

If you want to be walked through every line of a complex legal contractual document and understand why it is neccessary. Then expect to pay around £200 plus VAT per hour. Standard conveyancing staff won't be qualified enough to provide that depth of advise.

Tomis000 · 27 February 2018 at 11:02AM

Many thanks Davidmcn. My wife and I will consider everything you've all said, you've eased a lot of our concerns. I may ring First Direct and ask about the separate bank account thing. If they're not applying overpayments straight away that will effect things quite considerably.

Akahotpot · 27 February 2018 at 5:47PM

I am buying with a FD mortgage so I would be interested in the overpayments bit please

davidmcn · 27 February 2018 at 6:35PM

If the terms of your product allow you to make overpayments then I wouldn't say it would be "reasonable" for the bank not to immediately credit them to your account. I think that clause (like many of the others) is probably covering some obscure scenario where you are in default rather than any normal operation of the account.