First Direct - Income Multiples & LTV

whu

MRSM - I note the timeline and that your docs (P60etc) were sent back by recorded delivery - is this the norm as I have been told they sent ours back by normal post.

whu

robertmckee14 wrote: »

Im currently in the process of opening a bank account with them to apply for a mortgage. Our LTV is 79% and our joint income multiple (excluding all bonuses + overtime, which adds 5,000 a year) is 3.3.

Is there even a hope of getting accepted!

When do you pay your booking fees and when is the valuation done. I wouldnt want to risk losing the booking fee and waste a few months if the chance of getting a mortgage with them is slim!

Anyone in the middle of this process?

Applied in beginning of April and the booking fee was taken 5 days later - valuation is done after the credit check which takes about 2 weeks from receipt of application in my experience

mrsm

whu wrote: »

MRSM - I note the timeline and that your docs (P60etc) were sent back by recorded delivery - is this the norm as I have been told they sent ours back by normal post.

not sure whu. We originally sent ours by recorded so not sure if that;s why they came back that way. If you get a chance, check a couple of the other timelines, and first couple of pages on that thread. i seem to recall at least one other had recorded but i think someone else's came back in normal post