FirstActive - existing customer renewal

dorset_phoenix

Why does FirstActive.co.uk want to advertise as giving good deals to new and existing customers when clearly they will offer a higher rate for renewing an existing customer's fixed rate and charge a fee for doing so 6.49% for 2yrs fixed at £499 arrangement fee and for the 6.99% 2yr it would be a whopping £699 fee.

Although they say they could add this to the mortgage is this not fair for a company that wants to retain your business???

Dorset_phoenix (I'm leaving it at the variable rate of 6.10% when it's due for renewal - until the company rethinks their existing customer policy.

_Andy_

Why is charging you a fee unfair?

dorset_phoenix

As all they have to do is renew the existing policy for 2 yrs - a signature - so why charge for a booking/arrangement fee - what would cost them that much in administration. I can understand for new customers but not surely for one they already have the mortgage for.

_Andy_

Nothing to do with what it cost them for admin, you're in effect buying the rate itself. That's actually a pretty low fee.