FD mortgages - how long for approval?

Lunar_Eclipse

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?

Yes, yes and yes. :rotfl:

Gambler

Valuation has been done and come back at £200K, I'm paying £248K.

Deja vu as the house purchase before this one fell through for exactly the same reason, although that was a homebuyers report, the FD was just a drive by but FD have said not to worry they always come back lower and are not for the saleable vale of the house. Is this true?

It doesn't affect the mortgage as I'm still within the 80% ltv.

silvercar

Valuation has been done and come back at £200K, I'm paying £248K

That is a big drop, at the very least I would want a word with the valuer, he should be able to tell you whether that £200k was based on a distressed sale price or what he actually thinks the property is worth.

Gambler

silvercar wrote: »

That is a big drop, at the very least I would want a word with the valuer, he should be able to tell you whether that £200k was based on a distressed sale price or what he actually thinks the property is worth.

I thought it was strange when the lady at FD we spoke to first was saying it was a drive by, we paid £200 as it is a house purchase.

Phoned FD back and this time a different lady at FD rang the valuations company directly and according to thier paperwork the valuer did enter the property and valued at £248K. :j

She is now investigating as to why we were given conflicting information. Not too impressed to be honest.

remotecontrol

A quick question for anybody who is remortgaging. Did you get a solicitor to check and witness your legal paperwork or did you get someone else to sign as a witness?

whu

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?

Am in the process of doing this now - booking fee was taken when i returned the original application - arrangement fee will follow later assuming credit check is ok and they offer the mortgage -then they will also take the valuation fee -closure fee will be added to the mortgage

allan673

remotecontrol wrote: »

A quick question for anybody who is remortgaging. Did you get a solicitor to check and witness your legal paperwork or did you get someone else to sign as a witness?

hi, i just got a work colleague to witness and sign it, thats good enough - mine is all ok.

allan673

hi again, update from me,
i rang f.d today and my redemption statement is out of date as its only valid for 7 days!!!!!!!!!!!!
so ive rang my current lender and they are posting me a new redemption statement today - i should get it tomorrow (i told f.d i would sort it out as its quicker this way), then i will fax it to f.d.
hopefully f.d will complete and open the mortgage this week as the statements only valid for 7 days.
has anyone got any suggestions - should i ring f.d a couple of hours after i fax the statement and explain its only valid for 7 days and needs completing/dealing with a.s.a.p ???
im just worrying they wont complete in time - this is 8 weeks so far ???
they have everything else - they just need this statement.

cheers................al

allan673

whu wrote: »

Am in the process of doing this now - booking fee was taken when i returned the original application - arrangement fee will follow later assuming credit check is ok and they offer the mortgage -then they will also take the valuation fee -closure fee will be added to the mortgage

arrangement fee is taken at the very last stage - completion !
valuation fee was taken around 2 weeks after the valuation !
booking fee was taken around 3 weeks from the return of my application !

mrsm

allan673 wrote: »

hi again, update from me,
i rang f.d today and my redemption statement is out of date as its only valid for 7 days!!!!!!!!!!!!
so ive rang my current lender and they are posting me a new redemption statement today - i should get it tomorrow (i told f.d i would sort it out as its quicker this way), then i will fax it to f.d.
hopefully f.d will complete and open the mortgage this week as the statements only valid for 7 days.
has anyone got any suggestions - should i ring f.d a couple of hours after i fax the statement and explain its only valid for 7 days and needs completing/dealing with a.s.a.p ???
im just worrying they wont complete in time - this is 8 weeks so far ???
they have everything else - they just need this statement.

cheers................al

I called them. do you have the fax no? and make sure you put your ID no on it. my Husband faxed and I called about an hour later. they checked they had it then said they'd pass directly to the priority post team for checking. It still took a week .
Hope yours is quicker.

My last update, checked online today and my arrangement fee has now been added to my mortgage. All i need to do now is start paying it off:rotfl: