FD mortgages - how long for approval?

allan673

medic1978 wrote: »

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

the offer is valid for 6 months, i would ring them and start the ball rolling if i were you.
the booking fee secures the deal for 6 months.

Financially_Prudent

Just a quick update to say First Direct remortgage opened yesterday, hoorah!

All went well, all current accounts, both personal and joint linked, just in the process of transferring savings across from Icesave to be offset.

Booked a 5.25% rate for £99 back in March 2008, as remortgage was due in August this year, on reflection a very good decision, although only for two years!

Contact with mortgage support took some time to get through but service has been excellent, definitely recommend First Direct

Gambler

Financially_Prudent wrote: »

All went well, all current accounts, both personal and joint linked, just in the process of transferring savings across from Icesave to be offset.

This was my intention when we moved back in June although I never got round to it as was so busy with house move etc. Nearly had my fingers burned as I got caught up in the icesave fiasco but the funds are now safely offset against my mortgage.

I currently have a fixed rate ISA with Lloyds TSB and my intention was to move to a FD ISA but just realised this can't be offset against the mortgage :mad: