A Question of Risk?

barneyrubble43

Hello

I have just found this site and so far have found it a huge iformation resource. Thanks very much.

My question is this:

I have a current account with Firstdirect with a £2000 overdraft with them, normally up to it's max by the end of the month, £1500 on a credit card and a £230000 offset mortgage with them.

I have had a large amount of charges on the current account over the years, probably into the £1000 bracket (I have had the account since I was a student). My concern is - if I claim back the charges, what if they decide to close the account? Will they also close the mortgage account as well? Can they do this?

Obviously a major concern for me before I go ahead with this.

Thanks in advance

nickmack

They may close the bank account, so you need to open a parachute account.

It's unlikely they will do anything with the mortgage, as this is covered by a seperate agreement.

barneyrubble43

OK, but with an offset Mortgage, having the current account there as well is sort of most of the point.

Has anyone else's account at First Direct been closed?

Jonni2bad

Barney... there is no evidence to suggest that they have closed these accounts and if they tried to without good reason then you would certainly have good cause to apply for an injunction and make a Court force them to 'behave' properly.

Their actions should be fair and reasonable in all circumstances.