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First National Stops Lending
31-03-2009

GE Money withdraws the First National brand. GE money have made the decision to withdraw First National in order to manage their lending in the current economic... More

First National Criteria Changes - 17-07-2008

First National are making changes to rates and criteria from Friday 18th July.

First National are launching their new 2908 range on Friday 18th July, withdrawing their current 2608 range by close of business today, Thursday 17th July.

The main changes are as follows;

• LTVs for Full Status and Self Cert are reduced by 5% across the range

• LTVs for Right to Buys are now 80% for First Time Buyers and 75% for medium adverse

• New build/conversion flats max LTV of 80% (flats up to and including properties/conversions 5 years old)

• High adverse product no longer available

• NP+ defaults now 0 in last 24 months

• Completion fee now £1,695

• Rates reviewed across the range

Deadlines

DIPs must be produced by 17th July 2008 for the 2608 - applicants names, DOB, Addresses must be correct as these cannot be amended after the DIP is submitted, if amended new criteria & rates will apply.

Fully packaged cases must be inputted by First National by 31st July. We are aiming to submit cases by 26th July to ensure First National receive them in time to input onto their system.

Offers must be issued by Friday 22nd August.

Completion must take place within 3 months of offer or by 22nd November 2008.

Please send any DIPs by 3pm today for First National. For any cases currently being packaged please send all outstanding information to us as soon as possible.

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