FD mortgages - how long for approval?

whu

TighterThanTwoCoatsOfPain wrote: »

Woo hoooo, after a massively long wait (applied in Feb, redemption penalty ends on 30th June) I am hoping to complete on 1st July..

Obviously i'm expecting the 1st of the month to be very busy..

Couple of questions:-

a) Anybody else complete on the 1st.

b) Did the target completion date slip.

this is just a straight remortgage, they have the redemption statement from existing lender so just ticking the time away now (hopefully!)

Hoping for 1 July also -FD got redemption statement so fingers crossed!!

whu

allan673 wrote: »

I COULDNT AGREE MORE,
it is a great feature seeing the balance reduce every month, and its making me want to get it down a.s.a.p.
i cant afford to overpay by huge amounts unfortunately, around £50 per month at present.
at a rough calculation i need to overpay £100 per month to pay it off in 10 years.
but with payrises etc this should be achievable over 10 years ?

Can you see the balance changing each month online or do they send you a monthly statement?

TighterThanTwoCoatsOfPain

whu wrote: »

Hoping for 1 July also -FD got redemption statement so fingers crossed!!

hey, get of my date!! lol

They said they are keeerazy busy for that day as you might expect.... I just keep looking at my redemption statement which says for every day after the 1st July they need to add £21 odd interest!

Even though they have had all the docs for about 3-4 months (except redemption which they had to wait until this week) the lady i spoke to said it was luck of the drawer on the target day and they weren't prioritised in any particular order so keep your fingers crossed!

Come of FD, pull those socks up! :rotfl:

whu

hey - good luck - lets hope we both get done on that date!!lets update as and when

allan673

whu wrote: »

Can you see the balance changing each month online or do they send you a monthly statement?

hi whu,
yes you can see it go down each month online, online ive got a savings account, a first account, and a mortgage account. you will have the same.
the balance goes down on the payment date, plus if you want to you can make a payment (overpayment) from the first account to the mortgage account and that goes off the mortgage balance instantly too.

they also send a monthly mortgage statement to you.

TighterThanTwoCoatsOfPain

Howdy Peeps...

Any of those hoping to complete a remortagage today heard anything?

I know its perhaps a little early in the day but am itching to know its its gone ahead and am sitting on my hands to avoid ringing and pestering them!!! :-)

TighterThanTwoCoatsOfPain

I'm complete! no text but then i couldnt resist calling to check...

all went through at 15:29 apparantly! Like a kid with a new toy, but got to wait until tomorrow before i can start playing!

Let the overpayments begin!

whu

spoke this afternoon and was told it had completed!!also got a text to confirm

medic1978

Hi
I'm just about to start the ball rolling... I missed out on the better rates earlier but my current deal dosen't end until 31/12/08

Can anyone confirm that the FD re-mortgage offer is valid for 6 months? i.e should i just get on and apply now so i can complete in early Jan 2009? I don't want to leave it any longer as rates still seem to be going up...

Also, when do FD actually make the offer, and what date does it have on it? Is the offer made when they have checked everything and before valuation? If i apply now, should i expect the offer in a few weeks time- will it be dated from time of application or from approval? And will it be valid for 6 months from application, or 6 months from approval?

Thanks

gil13

to get a rate you will have to pay the booking fee to secure it. then subject to offer and underwriting you get 6 months to drawdown/complete. you will probably get an offer within a month and this is often before(but subject to) valuation. we were in the same boat and bagged the 10 yr at 5.49% even though we don't want to complete until Oct 1st which was pretty much the longest we could have left it.