FD mortgages - how long for approval?

phead

Anyone know what happens next after the "Legal Mortgage" document (the one that needs the witness signature on it) has been sent back. I'm wondering how long they will take to sort this out (remortgage)

allan673

phead wrote: »

Anyone know what happens next after the "Legal Mortgage" document (the one that needs the witness signature on it) has been sent back. I'm wondering how long they will take to sort this out (remortgage)

im guessing thats the very last document, the solicitor (legal team) should have all the documents, redemption fees in place by now. a few days or a week at a guess to complete the mortgage.

dweeby

phead wrote: »

Anyone know what happens next after the "Legal Mortgage" document (the one that needs the witness signature on it) has been sent back. I'm wondering how long they will take to sort this out (remortgage)

Hi, and welcome to the thread.

If you've had your "legal mortgage" document, and returned it - you're ahead of the rest of us! - so I don't think there are any previous posters who can help.

But... how long did it take you to get the legal stuff after your offer? that's my next step, I think.

totally_confused_3

Update from me, called firstdirect this morning and they have received the signed offer letter yesterday but haven't checked it. Hopefully, they will do it today. But they still haven't heard news regarding my valuation which is strange as the surveyors have already put my homebuyer's report in the post yesterday and I should receive it by tomorrow.

Legal pack is currently being prepared and hopefully it will go out at the end of the week too. Will call them on thurs/fri to check as this was wat I was told.

phead wrote: »

Anyone know what happens next after the "Legal Mortgage" document (the one that needs the witness signature on it) has been sent back. I'm wondering how long they will take to sort this out (remortgage)

Hi,

Can you pls let know your timeline. Tks!!!!

dweeby

totally_confused wrote: »

called firstdirect this morning and they have received the signed offer letter yesterday but haven't checked it. Hopefully, they will do it today. But they still haven't heard news regarding my valuation which is strange as the surveyors have already put my homebuyer's report in the post yesterday and I should receive it by tomorrow.

Legal pack is currently being prepared and hopefully it will go out at the end of the week too. Will call them on thurs/fri to check as this was wat I was told.

Well done, progressing well (if a little slowly!).

Its been our observation that everything takes a week. On Thursday last week, FD confirmed our valuation had happened and that the valuation report had been faxed over to them. But on Friday when I called, it still hadn't been acted upon. Strangley (first time ever) they texted me last night saying that the valuation was fine. So it took them from thursday to monday evening to act on the valuation, which I think is normal for them (and they work weekends)!

As they (should have) received our signed offer letter back on Friday (and the valuation is all done and dusted), it'll be interesting to see when the legal pack goes out. Everything is so sloowwww!

It bothers me because although we're nearly there, work still has to be done.

drinkduffbeer

Update from me

I have received the legal mortgage document this morning for signing.

Timeline - Sent back the mortgage offer 25/02 so it has taken a week for them to send out the legal docs.

Not long now:T

phead

dweeby wrote: »

Hi, and welcome to the thread.

If you've had your "legal mortgage" document, and returned it - you're ahead of the rest of us! - so I don't think there are any previous posters who can help.

But... how long did it take you to get the legal stuff after your offer? that's my next step, I think.

it was only a 3-4 days after, I just checked with them and the valuation isn't back yet, they expect it today, they said they will ask for the redemption figure as soon as they have both the legal mortgage and valuation back.

I had better get a move on and transfer the "savings" out of the virgin one account, otherwise the redemption figure is going to be too low, and I'll be totally broke!

drinkduffbeer

Update - I have just noticed that FD sent me a text message yesterday to say my valuation has been approved and that my application is progressing.

HelpMeMove

The latest at my end....

Received the offer yesterday but the type of valuation stated in the Fee’s section is wrong! I opted for the Buildings and they stated the Homebuyers and the valuation is today (only discovered this yesterday when the EA called)!

Called FD first thing this morning and the offer doc is incorrect and they have to send out an amended version and contact the valuation company to instruct a Buildings survey.

I’ve updated my timeline: http://forums.moneysavingexpert.com/showpost.html?p=8663255&postcount=22

jem16

Latest from my son;

1/3 - spoke to FD who said his application had been passed to valuation team to see if they would accept his enclosed valuation. They would phone him on Monday.

3/3 - No phone call from FD

4/3 - phoned FD who have confirmed that they will use his valuation. He was told that his offer letter would be sent out today and also sent to his solicitor at the same time.

So really glad that his valuation was accepted as he's right on the 80% LTV. It also saves waiting for the valuation to be done.

His entry date is 18th April ( Scotland ) and funds have to be with his solicitor by 11th April which is 5 and a half weeks away. So looks like things are progressing nicely.

Updated timeline.