Mortgages

Amend your existing online application

If you’ve recently applied for your first direct mortgage online and wish to make any amendments to your application, you’re able to change the following online:

  • loan amount
  • mortgage term
  • mortgage type (i.e. change from offset to repayment only)
  • interest rate (e.g. change from fixed, tracker or standard variable)

In order to make amendments, you’ll need to:

1. Use our ‘Find a mortgage for you’ tool to find the mortgage you would now wish to change to – remembering to select ‘Amending an existing application’ in the ‘I am..’ field.

2. Once you’ve selected the mortgage, you’ll then need to click on ‘Full details’, followed by ‘How to Apply’.

3. Then simply follow the on-screen instructions.

Please Note: You'll need to complete a new mortgage application if you want to make any other amendments to your online mortgage application or if your application was submitted over five months ago. If you do not wish to amend your interest rate, but cannot find the interest rate you originally applied for, please call us on 03 456 100 103.

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Important Notes

first direct Offset Mortgages are interest only mortgages. The monthly payments shown on the next screen will cover only the interest charged on your mortgage.

This payment does not cover an amount that you need to pay to a repayment strategy. You are responsible for making your own arrangements to repay your mortgage at the end of the mortgage term.

You must demonstrate that you have a suitable repayment strategy in place. You may choose to use an endowment policy or another investment or savings plan.

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Our mortgage fees

Depending on the interest rate type you choose, different fees may apply. To keep things simple, we have provided a summary below.

Fixed Tracker Standard Variable Rate
Booking Fee £0 - £1950 £0 £0
Arrangement Fee £0 £0 - £1450 £950
Closure Fee £0 - £149 £0 - £149 £149

A fee which is payable when your mortgage is drawn down. The amount of the Arrangement Fee will vary depending on the product chosen.

All other standard first direct 1st Account (our current account) charges will apply. See full Terms and Conditions PDF for details.

This is a non-refundable fee charged on some mortgages to secure a particular mortgage deal.

This is an administration cost to cover the costs in closing a mortgage once it has been fully repaid. Where a customer wishes to transfer their rate to another property and the sale and purchase complete simultaneously, the closure fee waived.

The ability to transfer a mortgage rate to another property is subject to status and first direct's lending policy and assessment criteria at the time of the request.

An Early Repayment Charge is a charge you may have to pay if you choose to fully repay your mortgage early.

Early Repayment Charges do not apply to first direct mortgages if you choose to make overpayments or lump sum payments to your mortgage.

If you take a Fixed rate mortgage and you repay the whole of your mortgage during the Fixed rate period an Early Repayment Charge will apply. This charge is calculated at 3% of the original mortgage amount during the first year of the Fixed rate period and 2% of the original amount if the mortgage is closed in any subsequent year during the Fixed rate period.

If you choose to repay your mortgage after the Fixed rate period has ended, an Early Repayment Charge will not apply.

The amount of any Early Repayment Charge will be displayed on both your Key Facts Illustration and mortgage offer, which you will receive should you decide to progress with a mortgage application.

Fee Saver means no booking fee, no arrangement fee and no standard valuation fee. We will cover the cost of one standard valuation where this is required by first direct as part of your mortgage application.

Other fees and charges may apply, for example, legal fees, Early Repayment Charge, charges raised by your existing lender.

If you are purchasing a property then in addition to the arrangement fee and/or any booking fee, you will also need to pay for your legal costs, valuation and survey for both Offset and Repayment Mortgages. first direct will pay your money transmission fees.

Standard Valuation Report: This report is solely for the purpose of arriving at a current market value to enable the lender to determine the amount of the advance. Its intention is to point out the major defects that exist and so it should not be relied upon to assess the saleability of the property.

Homebuyers survey and Valuation Report: This is a report commissioned for the information of the buyer. It is designed as an economy package and so concentrates on defects and problems that are urgent or significant. It does not explore structural aspects or detail remedial works.

Building survey and Valuation Report: This is a report commissioned for the information of the buyer. It provides a full picture of the properties construction and condition. This includes subsidence, foundations, external walls, the history of the property and future maintenance.

These are the fees payable to your solicitor or licensed conveyancer. first direct will also need a solicitor or licensed conveyancer to act on behalf of the bank. If your appointed solicitor / licensed conveyancer meets our criteria then we will appoint them to act on behalf of the bank. If not, first direct will instruct another solicitor. The borrower is responsible for these fees.

Mortgages from our Limited Edition range are available for a limited period and normally come with their own fees and interest rates. Our Limited Edition mortgages are in addition to our Standard and Fee Saver range.

If you are remortgaging a property in England, Ireland, Scotland or Wales then in addition to the arrangement fee and/or any booking fee you will need to pay for a valuation. However, first direct will pay for any enquiry fees to your previous lender, money transmission fees and Land Registry fees. If you are changing the owner(s) of the property you will need to pay for the additional legal costs to effect any change in the ownership of the property you are re-mortgaging. Where the mortgage and property will both continue to be in the same names and the property will be your main residence, we will prepare the legal documentation. This means that there will be no basic solicitors costs for you to pay. However you will not have any legal representation unless you arrange and pay for it yourself. If you are transferring your mortgage to first direct from another mortgage provider, they may charge an Early Repayment Charge if you are moving during a fixed rate or "tied-in" period.

Valuation fees

The charge made for the valuation carried out on the property to confirm the market value. All of the valuation fees quoted in the table below include an administration fee of £35 which is retained by first direct even if the application does not proceed.

You will need to pay for the cost of the valuation. Further details of the valuation types are shown below.

Standard Valuation

A brief inspection to determine the current market value and confirm that a property provides suitable security for mortgage purposes. Only areas that are accessible or visible will be commented on, furniture and carpets cannot be moved. If there appears to be a problem a specialist report may be recommended. Customers are strongly advised to obtain a more detailed report/survey and should not rely solely on a Standard Valuation report before deciding whether to proceed.

Homebuyer’s Report (includes a standard report for mortgage purposes)

  • suitable for conventional properties built within the last 150 years
  • more detailed than a Standard Valuation taking up to three hours depending on the size of the property
  • written in a standard format which is approximately 12 pages long
  • will help you make an informed decision on whether or not to proceed with the property and assess whether the property is reasonably priced
  • concentrates on defects, problems or potential problems that are urgent or significant. Does not explore structural aspects and will not details any long term remedial work that may be required
  • services (gas, electric, plumbing, central heating, drains etc) will be looked at and commented on but not tested
  • only areas that are accessible or visible will be commented on, furniture and carpets cannot be moved. If there appears to be a problem, a specialist report may be recommended. This would be an additional cost if required.

Building Survey (includes a standard report for mortgage purposes)

  • suitable for all residential properties, listed buildings, properties in a state of disrepair, properties that have been altered extensively, are of an unusual construction. This provides a full picture of their construction. Not recommended for flats
  • provides advice including subsidence, external walls, a history of the property and future maintenance
  • covers damage to exposed timbers, condition of damp proofing, insulation and drainage (although drains are not tested). Will also provide technical information on the construction of the property and the materials used
  • takes up to half a day, dependant on property size. Does not follow a fixed format so varies in its content and length
  • provides potential buyers with advice on existing or potential problems and remedial works. If there appears to be a problem a specialist report may be recommended. This would be an additional cost if required.
Property valuation figure Standard Homebuyer's Report Building Survey
Less than £75,000 £125.00 £269.00 £503.00
£75,001 - £100,000 £137.00 £299.00 £539.00
£100,000 - £150,000 £149.00 £341.00 £629.00
£150,001 - £200,000 £173.00 £383.00 £695.00
£200,001 - £250,000 £197.00 £443.00 £731.00
£250,001 - £300,000 £227.00 £461.00 £767.00
£300,001 - £400,000 £263.00 £521.00 £797.00
£400,001 - £500,000 £281.00 £593.00 £881.00
£500,001 - £600,000 £365.00 £611.00 £1,001.00
£600,001 - £700,000 £395.00 £671.00 £1,073.00
£700,001 - £800,000 £443.00 £755.00 £1,145.00
£800,001 - £900,000 £497.00 £755.00 £1,193.00
£900,001 - £1,000,000 £521.00 £755.00 £1,277.00
£1,000,001 - £1,250,000 £641.00 £835.00 £1,421.00
£1,250,001 - £1,500,000 £719.00 £877.00 £1,529.00
£1,500,001 - £1,750,000 £749.00 £949.00 £1,673.00
£1,750,001 - £2,000,000 £749.00 £1,021.00 £1,775.00
£2,000,001 + By negotiation By negotiation By negotiation

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

† Our Mortgage Team is available Mon to Fri 8am to 10pm, Sat 8am to 8pm and Sun 9am to 8pm