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First Active - Releasing Equity

cem
cem Posts: 391 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Mortgages & endowments
I am told by one of their reps on phone that IF they agree to lend me more money it HAS to go on a new rate and cannot go on my existing mortgage rate? Has anyone managed to get them to release equity on their existing mortgage rate.

Anyone had any experience of dealing with First Active for realsing Equity?
Reason I ask is coz my existing rate is fantastic (BOE + 1.1%) :j

Many thanks

Comments

  • cem
    cem Posts: 391 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    bump - any ideas ladies and guys?
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Any further advances are on a new deal, unless you are on a flexible mortgage rate normally
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    cem wrote: »
    I am told by one of their reps on phone that IF they agree to lend me more money it HAS to go on a new rate and cannot go on my existing mortgage rate?

    Yes that is correct.
  • koexelek
    koexelek Posts: 7,847 Forumite
    herbiesjp wrote: »
    Any further advances are on a new deal, unless you are on a flexible mortgage rate normally


    .... and that goes for all lenders.
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • cem
    cem Posts: 391 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    koexelek wrote: »
    .... and that goes for all lenders.

    !!!!!!! Wishful thinking is what I put it down to if they did lend on my existing rate (2.6%) :-p

    Thanks all
This discussion has been closed.
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