FD mortgages - how long for approval?

drinkduffbeer

allan673

The offer doc was 8 pages long and stated the Mortgage amount, term, fees and loads of explanations. Basically very similar to the personalised illustration stuff they sent originally.

You just sign and date and return one of the copies.

dweeby

drinkduffbeer wrote: »

The offer doc was 8 pages long and stated the Mortgage amount, term, fees and loads of explanations. Basically very similar to the personalised illustration stuff they sent originally.

You just sign and date and return one of the copies.

Great news, well done!

The same valuation company just debited £200 from my account today, but I haven't had any letter from them and neither have I had a mortgage offer from FD (except a verbal acceptance over the phone last week).

Are you re-mortgaging, or buying another house? I always thought the "offer" letter came after the valuers report(?). Do you have any idea of timescales, from the valuation to release of funds?

allan673

another update, just checked my account online and f.d have taken £299 booking fee.they must have just taken it as it hadnt been taken at 8am this morning. so far so good !
because i bank with hsbc (part of f.d) credits and debits show instantly.
i transferred £10 into the first account last week (as a trial run) and that showed instantly too.im impressed.

HelpMeMove

LostSocks wrote: »

Helpmemove - I hope there isn't a timescale you have to keep to. We have been supposedly exchanging (still hasn't happened) for the past two weeks without a completion date. We will then be given a 10 day notice period to complete and currently we are aiming for the 1st week in april. We are in rental at the moment, so looks like we are going to have an overlap in rent and mortgage. Thank goodness we have some savings to be able to do this.

When they accepted our offer their condition was to exchange by the end of Feb and complete by end of March.

End of Feb won't happen due to the mortgage but end of March, I hope, should be ok.

drinkduffbeer

dweeby wrote: »

Great news, well done!

The same valuation company just debited £200 from my account today, but I haven't had any letter from them and neither have I had a mortgage offer from FD (except a verbal acceptance over the phone last week).

Are you re-mortgaging, or buying another house? I always thought the "offer" letter came after the valuers report(?). Do you have any idea of timescales, from the valuation to release of funds?

Dweeby

I am re-mortgaging so timelines are not too important. I have not spoken to FD about my application since I innitially applied, they quoted 6 to 8 weeks but said they would endeavour to speed up where possible.

As everything seems to be progressing I've just left them to get on with it.

I can see timelines are much more important to many other posters in this thread so good luck everyone hope things pick up a pace for you guys too.

pamelab21

good news for me.
Got a call from FD this morning, they had rcvd proof om my DOB. someone had changed my DOB to Nov from Oct on my application form, it had actually been written over.....now I know I didn't do that they are confused too.
Anyway security set up and they then put me through to the mortgage dept to discuss.
The valuation has been done, valued at 5k over than I estimated. They sent off the docs to our solicitor on 22/02/08 (Scotland so have to get sol involved for remortgage, FD will refund up to 400 legal fees) called our sol and they have the letter and have applied for deeds and figures from current lender already. Once they get them back they will sort it all with FD and should be in place for 01/04/08 (we requested this date as we are tied into Halifax deal until then)
So all appears to be going well for us :T

totally_confused_3

Sounds like great news for you drinkduffbeer!!!

If only mine can come through quickly as like LostSocks, everything is waiting for the mortgage approval and we want to exchange and complete fast as we have already given notice on my current apartment and have to move out by mid Apr, not forgetting our 3 week renovation that we need to get done by then too!!!!

Anyway, an update from me as I didn't get a call-back re my valuation date. The surveyors have been in touch with EA to arrange the valuation next Mon as I am getting a homebuyer's report and they are full for the rest of the week. They also said that they were working on my application today and so I should hopefully get my offer letter in the next few days.

Am taking what they say with a pinch of salt as the lady on the phone told me that my valuation had already been done yesterday and they were waiting for the report in the next 2 days!!!! :eek: Definitely not true coz I was speaking to the EA yesterday and he didn't mention anything. Didn't want to get into another fit with them so just put down the phone and called my EA who said the surveyors called this morning to schedule the appointment for next week.

Oh well, will just wait for the offer doc to come through so hopefully we can exchange.

totally_confused_3

Happy for you too pamelab21!!! :T

Starting to get pessimistic since everyone seems to be getting their mortages in place and I am nowhere near there, with all these conflicting information!!!! :mad:

pamelab21

totally_confused wrote: »

Happy for you too pamelab21!!! :T

Starting to get pessimistic since everyone seems to be getting their mortages in place and I am nowhere near there, with all these conflicting information!!!! :mad:

Maybe its going a bit quicker for us as we are remortagaging and they only needed a 'drive by' valuation at 99.00 (rip off really!). We are only 52% LTV as well if that makes any difference?
Good luck anyway.

mrsm

well done pamelab21:j

Have you posted a timeline? I'm hoping ours might be similar to yours. We're re mortgaging and have approx 35% LTV