First Direct - they are as bad as every other bank

simonlilly

First Direct are generally a good bank but they are going downhill with their current promotions - they have just introduced the following :-

"Take out an offset or Repayment Mortgage from our range of fee-paying mortgages and we'll reward you with £250 Cashback on the arrangement or booking fees."

However, any mortgage that has fees attached to it has had its rates increased by 0.1% today, and any mortgage that has no fees (ie not eligible for the cashback) has had no rate change

Banks think we are stupid, they just make us despise them more and more when they take us for fools

:mad:

Farmerbob

FD are terrible how dare they price similar products differently, at least they have not pulled the wool over your eyes. ;-)

If you noticed that they fee free one is cheaper by 0.1% then im sure most of the public will be able to see it too when they look to compare, some may even benefit from the £250 as the raise in payments over the term may not come to £250 (it would have to be a small mortgage but it can happen)

I bet you the other mortgage products on their matrix will go up over the coming months as their cost of borrowing will likely increase.

Wutang_2

simonlilly wrote: »

Banks think we are stupid, they just make us despise them more and more when they take us for fools

:mad:

Less of the "we" please.

betmunch

its quite normal, dont see what your problem is. On a small mortgage you will be better off with the higher rate plus cashback, on a larger mortgage your better with out the cashback deal. They give you a chance to have more choice and you complain about it. cant believe I just defended First Directs mortgage department, but fairs fair!!!