First direct fixed rate

beaker12uk

I am on a variable rate so have just had a rise, but when speaking to First direct their marketing dept went to town on me, suggesting that i should move to their fixed rate, giving me 0.5 % less payment now. They tried redirecting me 3 times to the sales team.

Why are they so keen? is it to tie me in for at least another 3 years or is there something that I am missing ?

Any thoughts ?

Xbigman

You would be better off doing their deal but they aren't being altruistic. They don't want you switching to another provider. Luckily you came to MSE and we can tell you to look around and get the details of what other providers are offering.
If you don't want to do this research yourself then you could go to a whole of market broker.

When comparing deals you should not just look at the APR but also add in fees over the term of the deal. If first direct were offering .5% off and no fee they might work out cheapest and easiest, so don't discount that option but shop around.
Regards


X

beaker12uk

thanx x big man.

I think I know why they were so keen for me to tie myself in. £10 account charges were just round the corner !!!!!!!!!!!!!!