FD mortgages - how long for approval?

Gambler

mrsm wrote: »

:j:D:j:D check out my timeline

excellent news mrsm. Friday night is takeaway night in our house, few beers and The Apprentice, can't beat it :beer:

allan673

mrsm wrote: »

glad the move went ok lostsocks

Allan they called this morning to query something on the redemption statement and said I'd get a text today when it was completed. By 5 I'd still not heard so i called to check. they apologised profusely that I'd not had the text but confirmed all was completed and i should be able to see the ac online tom. or sun

THANKS FOR REPLYING MRSM, im really pleased yours is complete. :j
i think f.d might need another redemption statement from my current lender because the one they have was dated from 4th to 11th april (today), and it was valid for 7 days.
and because its not been completed today they may need another????
it did show the daily rate of interest, so im wondering if they can work it out, or if they will need a new redemption statement? (im waiting for them to confirm with me)
i honestly cant wait untill its all completed, and im glad i fixed for 10 years.

mrsm

allan673 wrote: »

THANKS FOR REPLYING MRSM, im really pleased yours is complete. :j
i think f.d might need another redemption statement from my current lender because the one they have was dated from 4th to 11th april (today), and it was valid for 7 days.
and because its not been completed today they may need another????
it did show the daily rate of interest, so im wondering if they can work it out, or if they will need a new redemption statement? (im waiting for them to confirm with me)
i honestly cant wait untill its all completed, and im glad i fixed for 10 years.

I can't remember if mine was only valid for so long but it was dated up to 4th. like yours it had a daily rate of interest (standard practice I think) and they just calculated using that. The delay has meant we're over the amount we requested but FD are takin from 1st account and the good news is we paid our old lender on 31/3 but wont pay FD until 25th May so that should cushion the blow from the fees that were whacked on the credit card

mrsm

allan673 wrote: »

question for those of you have completed the mortgage,

does the outstanding mortgage balance appear online please, and has anyone made an overpayment from there 1st account to the mortgage account yet please.
im wanting to know if i make an overpayment from the 1st account to the mortgage account, does the mortgage balance reflect the overpayment immediately?

I can now confirm payments are allocated instantly:D (they took the additional needed to clear the daily interest from old lender from our additional borrowing account and not the 1st account so I've just transferred it to keep it looking nice and neat;) and the balance was updated in both accounts instantly)

[Deleted User]

mrsm ~ that is good to know, thanks.

daverave7

Quick question RE FD mortgages...

At which point do they perform a credit check?

I've also put in an application for an abbey mortgage and I'm worried about harming my credit rating by having too many searches in a short period of time.

Thanks.

jem16

daverave7 wrote: »

Quick question RE FD mortgages...

At which point do they perform a credit check?

It was done after they received the signed application form and the mortgage team were ready to process it.

daverave7

jem16 wrote: »

It was done after they received the signed application form and the mortgage team were ready to process it.

Thanks jem. Also, when do they take your arrangement and booking fees? Am I right in thinking if you are unsuccessful in the application you pay nothing?

jem16

daverave7 wrote: »

Thanks jem. Also, when do they take your arrangement and booking fees? Am I right in thinking if you are unsuccessful in the application you pay nothing?

If I remember correctly(it is my son's mortgage), the booking fee was taken after they credit checked him and began processing. The arrangement fee is taken much later.

[Deleted User]

^^ That's right and if you are unsuccessful they refund the booking fee. However, if you change your mind you don't get it back.