First Direct Mortgage Timeline

rkmattaparthi

Has any one had mortgage recently with First direct? We had AIP a few weeks ago, and we had an offer accepted last week, and telephone appointment booked for full application this evening, and the advisor told me it could take 6-8 weeks for the complete process. I think that's a very long time, the next step is key illustration document which i should receive in 5 days, i need to sign it and send it back and valuation will be booked after that.

I'm hoping to hear from anyone who's gone through this process and how long it took them to get the final offer? When did u have a credit check done for the application?

Tensed because i'm a FTB and I've had small niggles in the past like a couple of missed payments on my credit.

Looking forward to hear your experiences

wilkowilko

I'm just going through the process of applying with them at the moment, my advice would be keep chasing them!

This is where I'm at:
20/4/18 - Offer accepted
22/4/18 - Mortgage application started and AIP received
2/5/18 - Mortgage appointment by phone
4/5/18 - Mortgage declaration form emailed to me - signed and uploaded same day and email sent to confirm I wished to go ahead with the application.
10/5/18 - Phonecall to First Direct chase up the paperwork I returned
14/5/18 - Survey company contacted me to pay for survey
21/5/18 - Survey company chased as still not booked the survey in
24/5/18 - Survey finally booked in for 31/5/18
31/5/18 - Survey completed

The survey company have been particularly slow and unfortunately I went with the one First Direct use to do my Homebuyers Survey.

I'm not sure if a credit check has been done yet, nothing showed up when my credit report was last updated on 13/5/18.

Hope that helps a bit :-)

stevenhp1987

You say they want you to sign a Key Facts Illustration? A Key Facts Illustration is just that; a list of all the key facts. Is it not an application. There is nothing to sign on it.

A Key Facts Illustration may be provided in addition to your paper application if you need to fill in any paperwork, sign it, and return it.

If you've missed a couple of missed payments; Have you sought a broker? First Direct, to me, seem to want people who have a 100% awesome credit history. This may be wrong, but that's my impression of them. A broker would be able to place you with the appropriate lender so you don't waste a credit search.

And FYI, a credit search should be done after you fill in the full application (which, based on your post, you would receive to fill in after your phone appointment).