FD mortgages - how long for approval?

allan673

mine is all completed as i mentioned yesterday, i am really glad :j
the £299 arrangement was taken from my first account last night, and this morning the outstanding mortgage appeared online.
it seems strange seeing a big mortgage debit balance appearing online, but its a very good feature with the f.d. mortgage.
and an incentive to overpay if you can afford it to get the figure down. ( i fixed at 5.15% for 10 years and have opted for the full repayment style to make the payments, my first payment is 28th may)
i will keep popping back to see how your all getting on, but most of us who posted at the beginning have completed now.

thanks again for the helpfull info :A to everyone, its been like a chat room, very friendly people !

jem, glad your sons is all completed now, i wonder if f.d. are still very busy?????

allan673

totally_confused wrote: »

Hi, just a quick pop back and glad to see that everyone has (mostly) completed except for the newbies. :j Just a quick update from me (although I am no longer with FD), got my new mortgage offer from IF yesterday and will be in the solicitor's office today or tomorrow to sign it. So a relatively quick process of only 3 weeks since I submitted my application. Now waiting for completion on 30th Apr and hopefully it will be smooth.

Hope this thread has proven useful to many pple and best of luck for the future!!! :beer:

good to see to see you again stranger, im glad your IF mortgage is going smoothly.
im gonna have a few beers tonight and a curry :beer: :beer: :beer:

Financially_Prudent

Looks like the rates have increased:

2 year fixed from 4.95% to 5.29% £1498 fee
2 year fixed from 5.25$ to 5.79%, £99 fee
5 year fixed from 5.29% to 5.39%, £498 fee

I did reserve the 5.25% rate with £99 fee but have been delaying thinking rates may come down, looks unlikely now, so glad I did, remortgage isn't until August 2008.

Gambler

Financially_Prudent wrote: »

Looks like the rates have increased:

2 year fixed from 4.95% to 5.29% £1498 fee
2 year fixed from 5.25$ to 5.79%, £99 fee
5 year fixed from 5.29% to 5.39%, £498 fee

I did reserve the 5.25% rate with £99 fee but have been delaying thinking rates may come down, looks unlikely now, so glad I did, remortgage isn't until August 2008.

Still only for existing customers though. 5 year fees have increased to £798. Still showing the 10 year at 5.49%, fees £598.

jem16

allan673 wrote: »

jem, glad your sons is all completed now, i wonder if f.d. are still very busy?????

Thanks. Funnily enough he got a text from FD around half an hour ago to say that they had received his valuation report and were proceeding with his application.

We suspect this is his retyped valuation which they have still to take a fee for.

Gambler

Have just received my mortgage offer through the post and it states it is an interest only mortgage but on my application form I ticked 'interest and full capital repayments' and indicated the total monthly payment I wanted to pay.

Can anybody who went for the repayment option confirm whether it stated this in their offer?

Many thanks

mrsm

Gambler wrote: »

Have just received my mortgage offer through the post and it states it is an interest only mortgage but on my application form I ticked 'interest and full capital repayments' and indicated the total monthly payment I wanted to pay.

Can anybody who went for the repayment option confirm whether it stated this in their offer?

Many thanks

Yes mine did. The FD offset is only an interest only mortgage. So you only need to pay the monthly outstanding interest. However you can request (and obviously did) a repayment figure. They then tell you what you need to pay each month to pay off of in full by the end of the term, based on having nothing to offset. Obviously tho each month your interest may vary so each month you'll be paying more or less capital.

I seem to recall,once they had the offer back they called me to confirm what i wanted my month DD to be and what date I wanted it taken.

Things seem to be moving nicely for you too Gambler

mrsm

allan673 wrote: »

good to see to see you again stranger, im glad your IF mortgage is going smoothly.
im gonna have a few beers tonight and a curry :beer: :beer: :beer:

Hope you enjoyed your curry. Ours certainly tasted good knowing we had a nice little remortgage under our belts

mrsm

totally_confused wrote: »

Hi, just a quick pop back and glad to see that everyone has (mostly) completed except for the newbies. :j Just a quick update from me (although I am no longer with FD), got my new mortgage offer from IF yesterday and will be in the solicitor's office today or tomorrow to sign it. So a relatively quick process of only 3 weeks since I submitted my application. Now waiting for completion on 30th Apr and hopefully it will be smooth.

Hope this thread has proven useful to many pple and best of luck for the future!!! :beer:

GOod to hear things are going well for you too:j

allan673

Gambler wrote: »

Have just received my mortgage offer through the post and it states it is an interest only mortgage but on my application form I ticked 'interest and full capital repayments' and indicated the total monthly payment I wanted to pay.

Can anybody who went for the repayment option confirm whether it stated this in their offer?

Many thanks

mine was exactly the same, its a standard letter/form, dont worry. they will have your application form and they will have inputted you want full repayment style.
for x amount, and a preferred payment date.