First Direct Fixed 5.25 fixed offset

suby786

Do you think they would stretch for me... needing 90% ltv first time buyer , and i need 3.4 times joint income where there "limit" is 2.75... would they consider me on a individual basis or straight NOO?

jedimonkey

suby786 wrote: »

Do you think they would stretch for me... needing 90% ltv first time buyer , and i need 3.4 times joint income where there "limit" is 2.75... would they consider me on a individual basis or straight NOO?

Its worth a try. Im also at approx 86%-90% and i called them yesterday. The woman was very helpful and said they certainly wouldn't rule me out and they would base their decision on affordability.

She took all my details and said someone would call me back, but it may be a few days as they were swamped with customers etc..... I would take the 10 year deal to get some stability as weve just had a baby - i hopeped the prospect of getting a customer nailed for 10 years would help me get accepted, only time will tell.

Its better to try and be told no than get a higher rate and wonder.... what if. !!!!
Call and try them.

browniej

If anyone has got the key Facts illustration for this, could they supply the fees listed on Section 8 please?

I know there is a valuation fee of £149 and a booking fee of £99 but what are the fees for early redemption and final redemption?

Gambler

I'll give FD a ring but as they are so busy I'm just wondering if anybody else could advise.

I was attracted to this rate when it first came out but my current fix doesn't end till 31st May 2008. I read a useful post where you can book the mortgage now for a future date (up to 6 months iirc?).

That's great but as I've just sold my house and we are frantically looking for a house to purchase I can't tell FD which house I want the mortage on !

Am I totally stuck?

silvercar

unless you move after 31 May and take the FD mortgage on your old home and port it to the new one.

Gambler

silvercar wrote: »

unless you move after 31 May and take the FD mortgage on your old home and port it to the new one.

I have now had an offer accepted on a house, does that make any difference?

rooo

Another quick note on this - the redemption fee on the fixed rate is 3% in the first year, and 2% of the every year after that. But this is off the original amount, not the outstanding balance. I guess this is to do with offsetting.

I still think its a corking deal and I have been agreed in principle, so may well be going for the 4.99% 5 Year fixed. I need to start my remortgage in the next 2 weeks, and I can't see rates coming down to match this - the next best I've found is 4.5% with the Woolwich.

ixwood

4.5??? really? that's even better!! Any details please?

TighterThanTwoCoatsOfPain

just been on woolwich... dont see any 4.5 deals and even the fixed dont even compare in flexibilty terms...

Section 8 of the KFI is:-

299 booking fee

(you can book the funds without specific house details i would imagine.. ours doesnt run out until june so have booked the funds and havent paid valuation.. that can be added later when ever i like as long as within 6 months)

valuation 99 for external from road 200 for internal inspection

both of above payable pre completion

arrangement fee 299 - can be added to loan if you want - note for a remortgage this covers all legal and leg reg costs... if this isnt included on other lenders you would prob pay more than this anyway.


I say you cant lose here... 299 reserves the deal, and if rates go down another .25 lower than this fixed deal in next few months (and i doubt it!) then i can re-book for and make up the lost fee in interest oayments in c.2 years with my mortgage..

Everyones a winner!

edit - admin fee for closing mortgage 149 (this is v good compared to others i've seen too!)

rooo

Sorry, my bad!

It was 5.49%, not 4.5%. 4.% is what I'm paying now - that'll teach me for typing when I've had a couple of beers!