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First Direct Fixed Rate: Heads Up
Jostick
Posts: 57 Forumite
Did you know that if you took out a fixed rate mortgage with FD before 1/1/2005 you may well have been given an "interest rate guarantee" to prevent "rate shock" when the fixed rate came to an end. This, in my case, guaranteed that whatever rate the repayments defaulted to it would be no more than 1% above base rate.
So... thanks to the Fix My Ditch calculator which set me thinking and a chat with the nice lady at FD who happened to mention this guarantee (which I had forgotten about) I have cut my mortgage repayments by 60% with no fees, just the early repayment fee. I'm stunned!! The savings will repay the fee in less than 6 months.
So... thanks to the Fix My Ditch calculator which set me thinking and a chat with the nice lady at FD who happened to mention this guarantee (which I had forgotten about) I have cut my mortgage repayments by 60% with no fees, just the early repayment fee. I'm stunned!! The savings will repay the fee in less than 6 months.
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Comments
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No wonder they are not dropping their SVR , they are losing too much with people like you :rotfl: :rotfl:0
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