First Active Mortgages

biggerfamily

Hi,
I wonder if anyone else has or is about to come off a fixed rate First Active Mortgage. I've just had a letter from them telling me my rate will move to 1.60% from June but coincidentally, encouraging me to contact RBS (the parent company) to look at other "attractive" offers. A quick glance at both the RBS mortgages and other sites suggest that 1.6% seems an incredibly attractive rate. I suspect that the generous rate might not be because RBS are smiling down on me but for other reasons and wonder if anyone has suggestions why the rate looks so good?

Crashandburn

It was their default rate. It was set at a time when money was cheap so they set their standard rate very very low never knowing what lay ahead.

If you're happy with a variable rate mortgage, then I doubt it can't be beaten by anyone. Enjoy!

shortchanged_2

Yep, my deal finishes this month with First Active and I to will go down to the 1.10% above base rate deal.

Am I changing, no sireee.

It is unlikely you will find a deal as good as that for a long time. Look at all the tracker rates currently on offer. You would be seriously hard pressed to get a better rate than 1.79% above base rate even with a very good LTV of 60% or less.

By the way it's a contracted rate so they can't force you onto another deal, so if I were you I would just make the most of it.

morus264

:TI came out of a first active tracker deal about 2 years ago and have been paying 1.1 above the bank of england rate ever since. I am not changing my mortgage as I have never found a rate as low as the 1.6% that I am paying at the moment. stay put.

biggerfamily

Thanks for all the comments. Based on thiis advice I will stay put!

Jenniefour

Brilliant rate - resist all attempts to get you onto one of their alternative "attractive" offers - you can't get a more attractive deal than the one you're on.

eschaton

Similar here. Came off a 5 year discount rate in November and now paying BR +0.99% which is 1.49%.

I have always gone for discounted rates / trackers so won't be moving.

Surpisingly they haven't tried to get me to change.

During the discount rate, they set a floor level of 4% so it never went below that but once at the end of the 5 years, no floor rate applied