FD mortgages - how long for approval?

Spamreported

i am just saying some companies can get themselves all geared up. noone should have to wait 3 months to await a decision. my mortgage was fastracked so wageslips etc were not required

spuds_2

I thought First Direct's 5 year fixed rate off-set mortgage was 5.29%? Has it just gone up?

jem16

Spamreported wrote: »

i am just saying some companies can get themselves all geared up. noone should have to wait 3 months to await a decision. my mortgage was fastracked so wageslips etc were not required

Where does 3 months come from? My son received his offer a week ago, five weeks after making first contact with FD. The post you quoted was just over 5 weeks as well.

I thought First Direct's 5 year fixed rate off-set mortgage was 5.29%? Has it just gone up?

It went up a few weeks ago. Most of the posters on here took the 5yr fix at 4.99% or the 10yr fix at 5.15%.

hangover

boots_babe wrote: »

What I am slightly confused about, is that most people on here seem to have taken a long long time to get their initial offer through. By chance, we transferred our current accounts to FD about 2 months ago, so possibly that sped the process up. I was wondering if anyone else on here was an existing FD customer?

I was an existing FD direct customer (have been with them for 10+ years) and was one of the first here to complete (I reserved the 4.99% 5 year deal on 21 January, sent back the paperwork about a week later and completed on 17/18 March) which appears to support your theory. I didn't have to provide any proof of earnings, just answered a few queries over the phone.

PeteMc

I am an existing FD customer (18yrs) and applied by telephone (5.15% deal) on 21/01. I received an AIP letter and I have had to supply employer details to give confirmation of salary.

However, as I had no property to buy (at the time) things have worked slightly different than others on this board.

I think it probably fair to say that each case is treated differently according to individual circumstances, regardless if you are an existing customer or not.

allan673

InMyDreams wrote: »

Any luck with the legal docs? Mine were printed on the 13th (7 days ago) and went for checking on the 14th. I've been speaking to someone this morning and they are still in checking :mad: I assumed this was because of the valuation problem, but apparently not. She said she'd chase it up and try and get it sent out today, but what with the bank holidays I'm not holding my breath. Even if it did turn up on Sat, our post comes so late we won't be able to send it back until next Tuesday at the earliest now. Then we only have a week left before SVR hits.

As for the valuation, the valuers still haven't got back so FD have promised to chase them. FD will ring back this morning to update. So I'm told.

Edit: 9.30 they rang back! Good news all round. She confirmed the legal docs are being sent out today. The valuers have confirmed that their figure was indeed an error on their part and have changed it to match mine. (ie £275k rather than £175k phew.) They are also requesting the redemption figure today.

hi, still no legal documents for me yet, ive been waiting nearly 2 weeks for them, theyve been printed off, but are being checked - things seem to have slowed down slightly for me now - i will keep you informed, im ringing again on tuesday for an update.

mrsm

Spamreported wrote: »

i am just saying some companies can get themselves all geared up. noone should have to wait 3 months to await a decision. my mortgage was fastracked so wageslips etc were not required

I was a brand new customer so needed my 1st account first, but it was still only 3 weeks 2 days from initial contact to receiving the formal offer (there was a typo with it which did cause another delay but from first contact to receiving the legal doc has still only taken 5 weeks)

allan673

mrsm wrote: »

woohoo:j legal Document just plopped onto the door mat

(typical tho, won't be able to SD it back until Tuesday now0

hi mrsm, how long has it taken for your legal document to arrive please, i received my offer 2 weeks ago, which i signed and returned.
i seem to have been waiting 2 weeks plus for the legal document and its still not here.
anyone else had similar times ????/

jem16

allan673 wrote: »

hi mrsm, how long has it taken for your legal document to arrive please, i received my offer 2 weeks ago, which i signed and returned.
i seem to have been waiting 2 weeks plus for the legal document and its still not here.
anyone else had similar times ????/

My son received his offer 8 days ago but hasn't received the legal docs yet. he was told last Tuesday that they wouldn't be sent out till beginning of next week.

mrsm

allan673 wrote: »

hi mrsm, how long has it taken for your legal document to arrive please, i received my offer 2 weeks ago, which i signed and returned.
i seem to have been waiting 2 weeks plus for the legal document and its still not here.
anyone else had similar times ????/

Hi
It was a week from the correct offer but I had received one already that had a typo and had to be re issued. I think maybe that offer was the one that set the legal stuff rolling in which case it was just over 2 weeks.
Hope my timeline
helps and you get yours soon