first direct life tracker costs

fraggle8

hi all

just noticed first direct appear to be open for new custom again. i have taken a look at there life term tracker at 0.49 above base rate which seems a good deal after hsbc raised theres. my only concern is it says there is a £399 arragment fee plus you have to pay for valuation and legals can anyone give me any idea how much these are likly to cost?

many thanks

by the way this is for a remortgage

whu

valuation - depends on whether you have a drive by valuation (£99) or a fuller one which I think costs £180 but am not sure
dont know about legals I'm afraid

TEDDYRUKSPIN

Erm!!!!

Not available to remortgage.

HSBC rate is still the cheapest.

fraggle8

TEDDYRUKSPIN wrote: »

Erm!!!!

Not available to remortgage.

HSBC rate is still the cheapest.

why not available to remortgage?

MarkyMarkD

Teddy:

use the mortgage for house purchase in England, Wales, Scotland or Northern Ireland for your own use, remortgage or for raising capital by releasing equity.

You are incorrect.

It's by far the cheapest tracker on the market. I can't understand why others (not you, Teddy) have been quoting rates like BBR+0.75% as best buys.

thigger

I just spoke to them last night - very helpful (and have a mortgage adviser available at 21:30!). The 399 arrangement fee includes all the legal work for a remortgage. Other fees are 99 for a drive-by valuation (I'm not sure what the cost is for a full valuation) and the 149 exit fee at the end. Arrangement fee can be added to the mortgage but valuation fee can't.

And the best bit is - BoE + 0.34% for mortgages over 200,000

whu

have noticed from the website that you can borrow upto 90% of the property value but cant see any mention of a deposit - anyone know how much you have to pay and is this available to FTB?

MarkyMarkD

Sorry, whu, but your post doesn't make sense. If it's available up to 90% LTV, then you need a 10% deposit.

Of course it's available to FTBs.

fraggle8

thigger wrote: »

I just spoke to them last night - very helpful (and have a mortgage adviser available at 21:30!). The 399 arrangement fee includes all the legal work for a remortgage. Other fees are 99 for a drive-by valuation (I'm not sure what the cost is for a full valuation) and the 149 exit fee at the end. Arrangement fee can be added to the mortgage but valuation fee can't.

And the best bit is - BoE + 0.34% for mortgages over 200,000

hi thanks for that i rang them and was told the same although have to pay £180 for valuation as no access road at front of house so they cant drive by!! application on its way lets hope rates dont change in meantime!

fraggle8

grr first direct now put life tracker up to 0.99% above base rate why is it everytime i apply for a remortgage the company put rates up next day so i dont have a chance at getting it at rate at time of call!!

nathanhill69

fraggle8 wrote: »

grr first direct now put life tracker up to 0.99% above base rate why is it everytime i apply for a remortgage the company put rates up next day so i dont have a chance at getting it at rate at time of call!!

I thought that FD would give you the going rate at the time of the telephone interview and an Agreement In Principle had been done. FD send out the Agreement In Principle / Application Form within a day or two and as long as you return it signed within five working days you'll get that rate. You can always give them a call and pay the reservation fee over the phone.

Maybe this has changed or is different to the LIfetime Tracker product, also not sure how it differs if you don't bank with them already, but this was the case when I applied for my FD Mortgage. I'd give them a call and see what they say.

spcdust