First Direct Deals & Sales for July 2017 - HotUKDeals
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First Direct Deals & Discounts

22
482

Fee-Free International Payment by first direct

42
£0.00 @ First Direct
This might not have wide appeal to most of the HUKDer's but could be handy if you want to send international payment for free provided you have 1) a first direct account 2) the beneficiary's account d… Read More
This might not have wide appeal to most of the HUKDer's but could be handy if you want to send international payment for free provided you have 1) a first direct account 2) the beneficiary's account d…
lhwjud Avatar2d, 32m agoFound 2 days, 32 minutes ago42 Comments
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faxmax
lhwjud
marathonic
It does give the option for a sterling transfer. You'd probably need to check that the receiving bank would accept this as opposed to just bouncing it back.
Thanks for confirming the option to send GBP directly.
Where is this? All I see is

Login to your account and you will see the option to send GBP


Edited By: lhwjud on Jul 26, 2017 22:47
lhwjud
marathonic
It does give the option for a sterling transfer. You'd probably need to check that the receiving bank would accept this as opposed to just bouncing it back.
Thanks for confirming the option to send GBP directly.

Where is this? All I see is:

If you ask us to convert a payment into a different currency before we send it, we’ll use the first direct Exchange Rate to do this. This is a variable rate that changes frequently, so we’ll confirm the current rate when you make your payment.
If you ask us to make a payment immediately, we’ll confirm the exchange rate so you can accept or reject it before your payment’s sent.
If you’ve asked us to make an international payment in the future, we’ll convert your payment using the first direct
Exchange Rate at the time your payment’s sent.
If a payment we’ve converted into a foreign currency is returned or we can’t send your payment after we’ve converted it, we’ll convert it back into Sterling using the first direct Exchange Rate at that time so we can’t guarantee the amount added back to your account will be the same as your original payment amount.
You can get details of the first direct Exchange Rate by giving us a call.
If you’ve asked us to make an international payment in the future, you can check the first direct Exchange Rate by calling us on the day the payment’s due and you can decide not to go ahead with it if you’re not happy with the rate.
I use tranzfers.com or ukforex.com . zalwsys get great rates with zero fees
rodulett
I see a few on here speaking highly of Transferwise.
Anyone know how they compare to MoneyCorp ?

Found TransferWise usually has best rates when I sent few x,xxx transfers always compared and it was cheapest and now its even same day some cases depending on when you send it.

Bank rates will be pretty bad but nice to see fee removed.

Edited By: kiish on Jul 26, 2017 22:05: .
I see a few on here speaking highly of Transferwise.

Anyone know how they compare to MoneyCorp ?
486

First Direct £125 to switch plus £250 fee free overdraft plus 5% saver

77
£0.00 @ First Direct
For those that are with TSB like me this is not a bad deal! First Direct* has yet again boosted its switching offer from £100 for new customers applying via our link to £125 (£100 direct). First D… Read More
For those that are with TSB like me this is not a bad deal! First Direct* has yet again boosted its switching offer from £100 for new customers applying via our link to £125 (£100 direct). First D…
Anon32 Avatar2m, 1w agoFound 2 months, 1 week ago77 Comments
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taker
B4rT45
taker
Agree First Direct and HSBC have the worst mobile banking app. It's ridiculous, reading the reviews on the App Store for the HSBC app you'd think they pushed their own staff to download it and rate it as 5 stars.
Can't do proper banking without going on their desktop site.
Good deal though.
I suppose none of you have tried M&S bank?
and that includes not only the app but also the internet banking!
Not surprised. Guess who owns M&S Bank?
Yep that's right. HSBC.

That's right but even the two can't compare (i.e. HSBS is great comparing to M&S) ...

Moved there for the incetive and it's sooo painful, can't wait to switch again!

I went through a lot of banks in the process (haven't tried FD yet and maybe a few others) and I think M&S is the worst bank ever (after yourkshire bank) ... :)
B4rT45
taker
Agree First Direct and HSBC have the worst mobile banking app. It's ridiculous, reading the reviews on the App Store for the HSBC app you'd think they pushed their own staff to download it and rate it as 5 stars.
Can't do proper banking without going on their desktop site.
Good deal though.
I suppose none of you have tried M&S bank?
and that includes not only the app but also the internet banking!

Not surprised. Guess who owns M&S Bank?

Yep that's right. HSBC.
taker
Agree First Direct and HSBC have the worst mobile banking app. It's ridiculous, reading the reviews on the App Store for the HSBC app you'd think they pushed their own staff to download it and rate it as 5 stars.
Can't do proper banking without going on their desktop site.
Good deal though.

I suppose none of you have tried M&S bank?
and that includes not only the app but also the internet banking!


Edited By: B4rT45 on May 19, 2017 15:47
rooney10
abx
I've got a quick Q about the bank account switch process.
I have 5 current accounts with Halifax and Bank of Scotland under one internet banking login.
If I fill in the form to swap would it swap just the single bank account I enter or would it try to end all my current accounts with my current bank? Seems sort of obvious but I'd be worried it would close them all.
It obviously shuts down only the account you switch from , details of which you give them during the switching process , (account number etc) .
I would have thought common sense should have told you this , lol.
It's not really THAT obvious is it. The incentive sounds like it's to entice you to leave your current bank.
supermann
We were discussing the effect of closure of old accounts on credit scores/ratings.
If the account is not recorded by any credit reference agencies then yes it's not going to affect anything but that is pretty obvious and is not what we were really talking about in the first place.

Yes but the suggestion was made (whether by you or someone else I do not recall) that the only reason my credit rating was not harmed was because I had this old account. All I'm saying is that I don't think so because the reference agencies don't seem to know it exists.
supermann
I stated earlier (and you quoted me on it) that when I closed an old account it had a very significant effect on my rating. It is possible that this account closure was not the main problem but that I had switched and opened a brand new account that had no payment history.
Fair enough. What sort of dive did your rating take (or did you just get refused credit you were expecting to get)?

You're right that it's a complex business and it's not helped by the fact lenders never explain themselves when rejecting.
392

First Direct 0% Balance transfer credit card 27 months - £30 back

12
£0.00 @ First Direct
27 months interest free 2.29% fee £30 back if at least £100 is transferred Read More
27 months interest free 2.29% fee £30 back if at least £100 is transferred
Cos2k3 Avatar2m, 2w agoFound 2 months, 2 weeks ago12 Comments
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akajay07
Seen a couple of these deals getting hot recently and I don't really understand why when there are plenty of balance transfer cards available with no fee.
The simple answer is that they hope you will either miss a payment and they will charge you, or not pay it off completely over the months that have interest free then they will hammer you with a bill, or they hope you will spend on top of this adding to your outstanding balance, they make money from you somehow. That is how you have to be very disciplined with this as the person mention above.
Seen a couple of these deals getting hot recently and I don't really understand why when there are plenty of balance transfer cards available with no fee.
iAmLegendFam
So I need to be in debt to get this deal..
Or, you could make all your purchases on a credit card anyway. Either because you spend abroad, like the enhanced protection, or most importantly like the cashback a good credit card will offer.

I pay everything on my credit card, i get a lot of cashback every December and with this deal i could get £25 for transferring a small balance over (and paying it at my leisure, i'm not going to because I'm not with FD).

In any case, people have constructive debt in a lot of cases and this can minimize that, people have destructive debt in a lot of cases and this can help manage that.

Every which way, this is a good deal.
iAmLegendFam
So I need to be in debt to get this deal..

Not at all. If I was to make a substantial purchase, I would rather stick it on a 0% credit card and keep the lump of cash in the bank as you never know when you'll need that cash for an emergency like the boiler let go in the house or something.
iAmLegendFam
So I need to be in debt to get this deal..

Yes. Does it mean it's not a deal if it doesn't apply to certain individuals?
-18

First direct 0% Balance Transfer for 27 months (2.29% fee) free £30 cashback if you transfer £100+

11
£0.00 @ First Direct
As said in the title seems a good deal for money shifting... Cashback really stood out though for free monies! Transfer £100 equals 2.90 fee.... Then receive £30 cash back.... £27.10 for free. B… Read More
As said in the title seems a good deal for money shifting... Cashback really stood out though for free monies! Transfer £100 equals 2.90 fee.... Then receive £30 cash back.... £27.10 for free. B…
jameswalker457 Avatar3m, 1w agoFound 3 months, 1 week ago11 Comments
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Exisiting customers only op should add that so won't waste my time m&s card has lower fee and get £25 cashback plus 32 months and you do not need to be an exisiting customer http://www.hotukdeals.com/deals/m-s-credit-card-32-months-bt-0-99-fee-25-cashback-2666420
ichabod05
Minimum fee is £5.00. Read the whole thing!
So that would mean a gaining of £25.00? Still not bad!
To maximise the free money aspect you only need to balance transfer £220, this will cost £5.04 @ 2.29%.
If you receive £30 for the transfer you will be £24.96 up which is an 11.34% gain on your original £220.
Not really worth it though as balance transfer cards are not really for this purpose.
Minimum fee is £5.00. Read the whole thing!
meanmoose
22.90% fee seems excessive lol.
Turns out the deal is a lot better than I originally posted
425

New Range of First Direct fee-free Mortgages: 5yr fix @ 1.94%, 10 yr fix @ 2.49%

47
£0.00 @ First Direct
The headline deals are for 60% LTV but there's a good value 10 year fix available at 75% LTV for 2.64%. However, I'll just talk about the headline deals in this post. The deal linked to below was a… Read More
The headline deals are for 60% LTV but there's a good value 10 year fix available at 75% LTV for 2.64%. However, I'll just talk about the headline deals in this post. The deal linked to below was a…
marathonic Avatar5m, 1w agoFound 5 months, 1 week ago47 Comments
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These rates are still available and I've just made the call to make the jump from my First Direct tracker.
Definately a tough call, just ensure you are ready to apply if and when rates start moving, with a low mortgage outstanding probably best to stay on the tracker imho,
as you have said less penalties and flexibility is better, rates aren't gonna jump massively anyway.
There is a lot of uncertainty, that's for sure. A 0.4% premium over my current lifetime tracker rate of 1.54% seems a small price to pay for 5 years of fixed payments. However, my mortgage is relatively low and I could withstand a rise of a few percent.

It's really all a bit of a gamble as most analysts seem to believe we're not due a rise until late 2018 or even 2019. If they rise by 0.5% over the 5 years, my rate will still only be 2.04% and I'll have made savings in the meantime :)

I think I'll just sit tight, but keep a close eye on things ready to pounce on a fix if things change.

Edited By: marathonic on Feb 18, 2017 21:36
marathonic
whatyadoinsucka
The five year HSBC fix rate came in a couple of weeks ago, is agreed 2.25 mid jan and then a 15 min call got my rate down to 1.94% .
One thing to note. Erc on anything over 10% each year, not unlimited as per some comments above
Correct me if I'm wrong but were you a First Direct customer on their Base + 1.29% lifetime tracker before now? It was you that posted that deal a long time back.
If so, what made you decide to leave the lifetime tracker and why didn't you stay with First Direct who offer the same rate with a lower follow-on, lower ERCs and better allowances for overpayments?
I ask because I'm also on the above tracker but considering a fix.
Yeah it could have been me, a Good few years ago, I never went to first direct I was/still am on a similar HSBC life time tracker.

In short, just in the process of moving house and HSBC allow us to port the current outstanding mortgage and its tracker rate and get the difference on a fix, I decided for the additional mortgage required, that at only £12-14 a month for 5 years, we'd get the fix on a slightly higher rate, than have it all on the same rate tracker.

we will hopefully pay off 10% pa on the fix for the next 5 years unless rates go up, in which case we will reduce the lifetime tracker instead..

Weve been chipping away at the mortgage and so the lifetime tracker has worked really well , especially as base rates have stayed low, it's gonna be turbulent few years, so I'm err'ing on the side of caution ..

Edited By: whatyadoinsucka on Feb 18, 2017 21:20
whatyadoinsucka
The five year HSBC fix rate came in a couple of weeks ago, is agreed 2.25 mid jan and then a 15 min call got my rate down to 1.94% .
One thing to note. Erc on anything over 10% each year, not unlimited as per some comments above

Correct me if I'm wrong but were you a First Direct customer on their Base + 1.29% lifetime tracker before now? It was you that posted that deal a long time back.

If so, what made you decide to leave the lifetime tracker and why didn't you stay with First Direct who offer the same rate with a lower follow-on, lower ERCs and better allowances for overpayments?

I ask because I'm also on the above tracker but considering a fix.

Edited By: marathonic on Feb 18, 2017 21:04
600

5 Year Fixed Rate Mortgage 60% LTV: First Direct 2.08% ZERO SIGN UP FEE / PORTABLE

50
£0.00 @ First Direct
Early Repayment Charges: 3% in the first year or 2% in any subsequent year. Unlimited over-payments are allowed but if you pay it off in full before the end of the 5-year term, you'll have the abov… Read More
Early Repayment Charges: 3% in the first year or 2% in any subsequent year. Unlimited over-payments are allowed but if you pay it off in full before the end of the 5-year term, you'll have the abov…
marathonic Avatar1y, 5d agoFound 1 year, 5 days ago50 Comments
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pKaTz
any good buy to let mortgages out there?


HSBC do some good rates. There's very little on the market unless you have a minimum 25% deposit
pKaTz
so if I said I was going to live in the house and then rent it out, what would happen?


they'll want to be listed on the insurance policy. if you take out landlords insurance, they'll question it. if you take out normal insurance, you're not insured.
any good buy to let mortgages out there?
so if I said I was going to live in the house and then rent it out, what would happen?
pKaTz
is it possible to get this mortgage if you intend to rent a property out?

First Direct don't do BTL mortgages at all.
671

5 Year Fixed Rate Mortgage 60% LTV: First Direct 2.39% ZERO SIGN UP FEE / PORTABLE (2.29% loyal rate if you have mortgage with FD)

84
£0.00 @ First Direct
Didn't think was to bad if you want to know what your paying every month for 5 years without any worries. Zero sign up fee too Early repayment charges, whilst present, are not to bad - 3% in the fi… Read More
Didn't think was to bad if you want to know what your paying every month for 5 years without any worries. Zero sign up fee too Early repayment charges, whilst present, are not to bad - 3% in the fi…
MrJinxy Avatar1y, 3m agoFound 1 year, 3 months ago84 Comments
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swoodworm
Seems to be a big debate on overpaying mortgage or using savers accounts. I would use the following calculators to see what works besthttp://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator#http://www.moneysupermarket.com/savings/calculator/

There sure is, it's difficult to get your head around as a lot of the number quoted are for like £20,000 so if your mortgage was only £20,000 at say 2.5% then you probably would be better off keeping your £20,000 in an account getting a better interest rate e.g. 3%. As I understand it though, if you'd got a mortgage of £150,000, unless you have £150,000 in an account getting a better interest rate I don't see how anyone can think you are better off not overpaying on it as the amount of money you will save just overpaying a bit will make a huge difference as well as shortening your mortgage term. You can't compare interest on £150,000 (mortgage) against £20,000 (in a bank account) as it's not apples for apples!
Seems to be a big debate on overpaying mortgage or using savers accounts. I would use the following calculators to see what works best

http://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator#

http://www.moneysupermarket.com/savings/calculator/
Do First Direct or HSBC do help to buy on new houses?
I called FD today to arrange new deal. They will call me back in... two weeks.
Comparing to my old deal I should save at least £900 over next five years. After five years if everything goes well I should pay off my existing mortgage.

Thank you.
I think the broker that moneysavingexpert recommend is London and Country. They dont charge a fee as they get a back hander off the mortgage provider for your custom. They are not whole of market brokers thou. I originally asked them for advice and ended up finding a better deal that they couldnt get me.
833Expired

First Direct offers £150.00 for switching your current account

136
£150.00 @ First Direct
First Direct offers £150 for switching your current account Read More
First Direct offers £150 for switching your current account
fatalist Avatar1y, 5m agoFound 1 year, 5 months ago136 Comments
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Slashed to 100 from £150 :/
Got mine within about 2 weeks
I got mine in less than 10 days
how long did people wait for their bonus? mine switched on 5/2 and transferred 1k in on 11/2 and still nothing :|
£100 now. Expire
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1788

10 year fixed rate mortgage 60% LTV: First Direct 2.89%

282
£0.00 @ First Direct
Excellent deal. Most past deals have had pretty high fees. This one is fee-free. I don't think rates will rise for quite a while but 2.89% is a great rate for 10 years peace of mind. Another gre… Read More
Excellent deal. Most past deals have had pretty high fees. This one is fee-free. I don't think rates will rise for quite a while but 2.89% is a great rate for 10 years peace of mind. Another gre…
marathonic Avatar1y, 5m agoFound 1 year, 5 months ago282 Comments
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Berylthebargainhunter
Just spoken to first direct - they've pulled their 10 year fixed mortgage.

Yup **** ... Just looked as well ... There 5 year one is still there.
Just spoken to first direct - they've pulled their 10 year fixed mortgage.
Just spoken to first direct - they've pulled their 10 year fixed mortgage.
http://www.hotukdeals.com/deals/10-year-fixed-rate-mortgage-65-ltv-leeds-building-society-2-75-2411054

...this is still available... £1499 setup fee but with a 2.75% rate over 10 years may work out cheaper depending on the size of your mortgage obviously, and especially if you don't add the fee to your motgage
Yep not offering this anymore. Managed to secure my rate. Should be transferred over by end of the month. Glad I rang them before end of March :)

They currently offer a decent 5 year fix at 2.39% but I'm still confident this is the one to go for.
94Expired

First Direct current account switch £150 + £25 for applying for and using their credit card £175.00

35
£175.00 @ First Direct
First Direct usually only offer £100 for switching. The £150 incentive probably will not last long, but I cannot find a deadline, perhaps someone else might be able to assist with this? You have to… Read More
First Direct usually only offer £100 for switching. The £150 incentive probably will not last long, but I cannot find a deadline, perhaps someone else might be able to assist with this? You have to…
dealsschmeal Avatar1y, 6m agoFound 1 year, 6 months ago35 Comments
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not sure if already answered,

opened account with them last week and transfer of old one should be done today.

Can I leave as soon as I get incentive or there is minimum period to wait before moving on?


Thanks
great lets see

thanks
wakkaday
I've joined will cashback come automatically in 38 days
Hi,

The cashback is payable within 28 days of you 1. switching current account and 2. paying in £1,000.

So If you do both today the money will be paid on the 5 of March at the latest.
wakkaday
I've joined will cashback come automatically in 38 days
I've joined will cashback come automatically in 38 days
Or you could just switch to them, collect the £125, switch to someone else after 6 months and collect another £100 for leaving and possibly another £100 from the new bank = £325. Stuff the £10 a month charge.

Edited By: matty_private on Jan 18, 2016 22:54
75Expired

first direct £150.00 switch bonus new special link up

13
£150.00 @ First Direct
Money supermarket special with first direct bank switch current account and get £150 bonus just pay in £1000 within the first 3 months...no direct debits required and no fees for 6 months ...after 6 m… Read More
Money supermarket special with first direct bank switch current account and get £150 bonus just pay in £1000 within the first 3 months...no direct debits required and no fees for 6 months ...after 6 m…
alastairgreen Avatar1y, 8m agoFound 1 year, 8 months ago13 Comments
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For the 150 try the Chrome Browser - it didn't work with Safari or Edge.
The link still shows £125 but on the Money Saving Expert site it says it could be down to your browser. It also looks like you have to pay the fee after 6 months, which I didn't think you had to pay at all if you met the conditions:

'Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our Account Terms and Conditions for more details of other additional products.'
Re. "Will I still be able to use my (pre-existing) Lloyds joint account online?

Reading the First Direct T's and C's, this is what is showing on the First Direct website: "Please note: As part of the Current Account Switch Service your old account will close on the day that you choose to switch."
Quick Question - I am thinking of moving my LLoyds Bank Current Account to First Direct. Will my Lloyds Bank joint account be affected by this move? Will I still be able to access my LLoyds joint account online? Thanks.
My £50 TCB for the Co-op Bank Account I opened in June has just reached "Confirmed", is it safe to transfer that account to cash in on this offer?

Also, does anyone have any experience claiming the £100 for leaving First Direct? Is it as straight forward as ringing up after 6 months and saying "this account's naff, I'm off"?
-25Expired

Pay no interest on Balance Transfers for 20 months with your first direct Credit Card

0
£0.00 @ First Direct
Pay no interest on Balance Transfers for 20 months with your first direct Credit Card. A balance transfer fee of 2.9% (min £5) applies to all transfers. Conditions apply. Offer available until 3… Read More
Pay no interest on Balance Transfers for 20 months with your first direct Credit Card. A balance transfer fee of 2.9% (min £5) applies to all transfers. Conditions apply. Offer available until 3…
Whammerhead Avatar1y, 10m agoFound 1 year, 10 months agoAdd Comment
-45

£150.00 is back on for switching current accounts at First Direct

13
£150.00 @ First Direct
£125 for switching current accounts if you use First Direct's website or £150 via moneysavingexpert and moneysupermarket. Need to pay in £1,000 a month or be charged £10. After 6 months, Read More
£125 for switching current accounts if you use First Direct's website or £150 via moneysavingexpert and moneysupermarket. Need to pay in £1,000 a month or be charged £10. After 6 months,
dealsschmeal Avatar1y, 10m agoFound 1 year, 10 months ago13 Comments
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I have been with First Direct since they first appeared and wouldn't go anywhere else. Customer service is second to none 24/7.
The cost of the account is £10 a month, this fee is waived for the first 6 months and will continue to be waived under any of the following:

1. £1,000 is paid into the account in a calendar month (transfers from one First Direct account to another do not count);

2. the average balance is £1,000 in credit;

3.a savings account (excluding their Regular Saver 6%), a mortgage, credit card, loan, car or home insurance product is also taken out with First Direct;

4. on any other First Direct current accounts in the same name, (some people have two current accounts, one for bills and one for day to day spending); or

5.if there is less than £10 in the account and no transactions for over 90 days. (To get the cashback you have to deposit £1,000 within 3 months of opening it, so as long as it goes in at some point within that period, you could also avoid the charge by taking it all out and leaving a fiver in there, however First Direct can close any account by giving 2 months' notice, they don't need to give any reasons, just suspecting something isn't quite right is enough).
dealsschmeal
zlain
dealsschmeal
abulkasam
do you open a regular saver after the first direct normal account?
Yes, the other suggestion from fellow contributors was to open a credit card account. The purpose of both being to avoid the monthly fee which becomes payable in the 7th month.
As long as you switch current accounts again before the 12th month First Direct promise to pay another £100. Leave after the 12th month and no "sorry you are leaving us" £100.
Would you know if you need any direct debits with the switch? I can't seem to find it anywhere but just want to be sure.
No direct debits needed.
The only requirements refer to paying in £1000 within 3 months of opening the account, and within 28 days of meeting this requirement the welcome bonus is paid. However, if customers also want to benefit from the goodbye bonus they must pay in £1000 every month for at least 6 months and must contact First Direct before leaving.
Here is a link to the conditions:http://www1.firstdirect.com/1/2/banking/current-account
If anyone is still out there (this is a rather old thread) and knows better please correct me if I am wrong.

Thanks. Yes I had read the terms and conditions, I was just surprised it had no DD's and thought I had misread something or missed something. Thanks for your help. I've initiated the switch and should get my £150 soon :)
zlain
dealsschmeal
abulkasam
do you open a regular saver after the first direct normal account?
Yes, the other suggestion from fellow contributors was to open a credit card account. The purpose of both being to avoid the monthly fee which becomes payable in the 7th month.
As long as you switch current accounts again before the 12th month First Direct promise to pay another £100. Leave after the 12th month and no "sorry you are leaving us" £100.
Would you know if you need any direct debits with the switch? I can't seem to find it anywhere but just want to be sure.

No direct debits needed.

The only requirements refer to paying in £1000 within 3 months of opening the account, and within 28 days of meeting this requirement the welcome bonus is paid. However, if customers also want to benefit from the goodbye bonus they must pay in £1000 every month for at least 6 months and must contact First Direct before leaving.

Here is a link to the conditions:

http://www1.firstdirect.com/1/2/banking/current-account

If anyone is still out there (this is a rather old thread) and knows better please correct me if I am wrong.
dealsschmeal
abulkasam
do you open a regular saver after the first direct normal account?
Yes, the other suggestion from fellow contributors was to open a credit card account. The purpose of both being to avoid the monthly fee which becomes payable in the 7th month.
As long as you switch current accounts again before the 12th month First Direct promise to pay another £100. Leave after the 12th month and no "sorry you are leaving us" £100.

Would you know if you need any direct debits with the switch? I can't seem to find it anywhere but just want to be sure.
42

First Direct 2 Year Fixed Rate 2.48% - 90% LTV £1450 Fee Limited Edition.

10
£0.00 @ First Direct
Don't know much about mortgages but after a few days researching, thought this was reasonable for those with a 10% deposit. The only off putting thing is the product fee of £1450. Thought I wo… Read More
Don't know much about mortgages but after a few days researching, thought this was reasonable for those with a 10% deposit. The only off putting thing is the product fee of £1450. Thought I wo…
Geldof84 Avatar2y, 2w agoFound 2 years, 2 weeks ago10 Comments
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This is only for people borrowing 100s of thousands or more. The more you borrow the more appealing a high product fee mortgage is.

Lets say you are borrowing £450,000. You still need a 50k deposit to get this mortgage. And the 0.5 percent better rate (assuming a 2.99 percent deal with no fee is the only alternative) would be worth more than the product fee and so this one is a better deal.
Min 50k salary single applicant, 75k joint. FD SVR is 3.69 currently
As a bank I can't rate then highly enough for customer service.
Not sure about this deal. Fee seems high
OP the rate seems to be good for 90% mortgage but I think the high fee will most likely be a killer in most of the cases.

The main calculation you need to make is how much you are totally paying over the two year period (monthly payment, costs, fees etc.). This will allow you to compare things easily with other mortgage offers. Also don't forget to look at the Standard Variable Rate which will follow after you finish the two years (alternatively you can always move to another provider).

Not voted either way.


Edited By: AstalaVista on Jul 13, 2015 07:24: edit
Fee seems a bit high :(
Palwan
fully1
I was recently looking at this. for my self though it worked out I would save £490 over the two years by having the no fee mortgage at 2.99 % plus having the 1450 in my pocket.
Do you understood what you have wrote here?

I think you mean *understand?.... While the punctuation is far from perfect, I totally get what fully1 is saying; I never really understand these high product fee mortgages, they seem to very rarely work out much better over the term. I guess it depends on how big your mortgage is really.
362

First Direct 2-year Fixed mortgage 65% LTV 1.49% (no fee for existing customers, £950 for new although potential workaround)

27
£0.00 @ First Direct
http://www.hotukdeals.com/deals/first-direct-life-time-tracker-mortgage-65-ltv-1-29-plus-base-1-79-no-fee-for-existing-2124828?p=24980290 A lot of people took advantage of the above deal and are no… Read More
http://www.hotukdeals.com/deals/first-direct-life-time-tracker-mortgage-65-ltv-1-29-plus-base-1-79-no-fee-for-existing-2124828?p=24980290 A lot of people took advantage of the above deal and are no…
marathonic Avatar2y, 3m agoFound 2 years, 3 months ago27 Comments
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masekwm
The 3 year is tempting, I wonder if they'll drop further

They probably will this Monday. First Direct are no longer competitive considering:

The West Brom, Tesco, YBS and a host of others have cheaper 2-year deals
YBS have a more competitive 3-year fix
Chelsea BS, HSBC, Natwest, RBS, YBS and others have cheaper 5-year deals

First Direct don't work with brokers and are known to be one of the most picky lenders. With this in mind, their only tactic to draw customers is to offer rates that top the best-buy tables. They aren't doing that at the moment with all the drops in interest rates that have come from other lenders.
Good point. Missed that.
stuartwilson754365
If you pay £950 fees every 2 years over a 25 year mortgage you add over £11,000 onto your mortgage. You would probably be better off with a lifetime tracker. 2 years isn't enough time to protect you from rate shock so why bother.

Because 'the deal' here involved avoiding paying the £950
If you pay £950 fees every 2 years over a 25 year mortgage you add over £11,000 onto your mortgage. You would probably be better off with a lifetime tracker. 2 years isn't enough time to protect you from rate shock so why bother.
DarkBat1
65% LTV... not bad if you live up North... down London getting 45% deposit is difficult... Average around here is £300k...
100% - 65% LTV = 35% deposit. ;)
59

First Direct - 3 year fixed 1.78% mortgage - 65% LTV - £1,450.00 BF

12
£1450.00 @ First Direct
Limited edition from First Direct, 1.78% for 3 years. I switched to the 1.79% tracker a few months back and I'm tempted to switch to this! Read More
Limited edition from First Direct, 1.78% for 3 years. I switched to the 1.79% tracker a few months back and I'm tempted to switch to this!
masekwm Avatar2y, 3m agoFound 2 years, 3 months ago12 Comments
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marathonic
The fee-free version dropped to 1.89% this morning.

Wow, wonder if I should stick or twist!
The fee-free version dropped to 1.89% this morning.
Yeah, the 3-year fixed rate with no fee for existing customers has a rate of 2.29%.

Best to stick with the 1.79% tracker, or move to the 1.59% 2-year deal in my opinion.
Damn, just phoned and checked as this is a limited edition mortgage. The BF is payable :(
mchu6am4
masekwm
1.78% just amended title.
Loopz - I did it in February, you don't pay the booking fee and it only takes a short telephone call
See http://www.hotukdeals.com/deals/first-direct-life-time-tracker-mortgage-65-ltv-1-29-plus-base-1-79-no-fee-for-existing-2124828#comments
What do you mean you don't pay fees? I'm with FD on their standard variable rate and was considering switching to a fixed rate but didn't fancy paying huge fees....However, I'm on offset mortgage and wish to continue with the same...

This is not an offset though, the offset version is 2.79% (2.29 above base) so you would need to give up the offset if you wanted the 1% saving, was considering it myself but just not sure I want to give up on the convenience of the offset (savings and also redraw as/when needed)


Edited By: nictry on Apr 23, 2015 10:13
957Expired

First Direct Bank now offering £125.00 to switch your current account to them and £100 to leave if you don't likey, also £25 cash added to your account when you take out their Credit Card

274
£125.00 @ First Direct
As above - First Direct Bank now offering £125 to switch your current account to them and £100 to leave if you don't likey, also £25 cash added to your account when you take out their Credit Card.… Read More
As above - First Direct Bank now offering £125 to switch your current account to them and £100 to leave if you don't likey, also £25 cash added to your account when you take out their Credit Card.…
maccy1 Avatar2y, 3m agoFound 2 years, 3 months ago274 Comments
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I've switched out to the Halifax Current Acct as of yday (in retrospect I should have gone for the TSB acct but didn't see that there was also a 5% savings account offered). Will post once/if i get the £100 leaving deal. I believe I've met all the criteria, time will tell!
jaydee777
Has anyone left and got the £100 yet after the 6 months?

Haven't tried - access to best buy mortgage rates and a 6% regular saver is worth a lot more than a single £100 so I'm sticking with them. Actually moved my mortgage to them in January and am now paying 1.79% on a lifetime tracker.
Has anyone left and got the £100 yet after the 6 months?
marathonic
j2theg
Clicking through the first few pages of comments it's clear that avoiding the £10/month fee is easy but.. surely after 6 months this fee becomes mandatory for everyone? Not sure I can be arsed if I have to switch back to my old bank to avoid this.
The process to avoid the fee is indefinate. £1 in the savings account avoids the fee - forever (under current T&C's).

Excellent. That's what I wanted to hear. I'll check the T&Cs myself then sign up. Goodbye RBS.
j2theg
Clicking through the first few pages of comments it's clear that avoiding the £10/month fee is easy but.. surely after 6 months this fee becomes mandatory for everyone? Not sure I can be arsed if I have to switch back to my old bank to avoid this.

The process to avoid the fee is indefinate. £1 in the savings account avoids the fee - forever (under current T&C's).
62

First Direct - £25.00 cash back on credit card.

6
£25.00 @ First Direct
Apply for and use a First Direct credit card and receive £25 cash back. Need to hold a First Direct current account to qualify. Shared Via The HUKD App For Android. Read More
Apply for and use a First Direct credit card and receive £25 cash back. Need to hold a First Direct current account to qualify. Shared Via The HUKD App For Android.
Sug89 Avatar2y, 4m agoFound 2 years, 4 months ago6 Comments
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even if it was off the cc. just buy something for £25.. their credit pays it off.

not for me though I don't like having too many credit accounts etc
in the terms and conditions it says the £25 will be paid into your 1ST account
Am with FD for my current account so £25 of free money seems a no brainer. Ta.
HotUKDuncan
"the purchase can be of any value and made anywhere Visa is accepted"
Seems ok for free but I expect the £25 will be credited to the CC not just paid into your bank account.

Same difference really!
Its paid into your current account.
If your with 1st direct and looking for a credit card its a free £25 quid at the end of the day, not one for the masses as the voting shows.
327

First Direct: 10-year fixed rate mortgage at 2.89% £950.00

69
£950.00 @ First Direct
So how does this one beat the best Nationwide deals? Well, for starters, it's available at 65% LTV. In addition, the rate is 0.05% better than Nationwide's deal with a £49 lower fee (unless you… Read More
So how does this one beat the best Nationwide deals? Well, for starters, it's available at 65% LTV. In addition, the rate is 0.05% better than Nationwide's deal with a £49 lower fee (unless you…
marathonic Avatar2y, 5m agoFound 2 years, 5 months ago69 Comments
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madbiker2012
Yes. Residential mortgage business is regulated by the FCA. If you advise and are not qualified, you are on dodgy ground. If you are qualified and do it wrong, you are also on dodgy ground. Like I said, I'm not trying to stifle debate , far from it, I like this site and love reading the comments, good and not so clever. It's ok to point out deals, just don't give advice.

Once again, we are not regulated by the FCA. We are not getting paid for our advice and, as such, do not need to be regulated.

FCA - Do you need authorisation?

It would be dodgy for yourself to provide advice here because you are FCA authorised and regulated. The fact that I provide advice doesn't open me to any repercussions - no more than me providing advice to a family member or work colleague would.

Edited By: marathonic on Jul 20, 2015 13:56
Yes. Residential mortgage business is regulated by the FCA. If you advise and are not qualified, you are on dodgy ground. If you are qualified and do it wrong, you are also on dodgy ground. Like I said, I'm not trying to stifle debate , far from it, I like this site and love reading the comments, good and not so clever. It's ok to point out deals, just don't give advice.
madbiker2012
Just thought I'd mention, as a whole of market mortgage advisor, I am heavily regulated by the Financial Conduct Authority in provision of advice, particularly in what can be said, written, etc. Anyone on here that is providing advice needs to be careful. The FCA define advice very broadly, (I. E. You are just about all giving it by their definition), and unless you are qualified, and unless you prefix it with the required regulatory wording, you are breaking the law. Not trying to be a killjoy - just saying be careful. ☺

What you're saying would apply to us if we were mortgage advisors and regulated by the FCA.

Surely you don't think the FCA regulations apply to a bunch of HUKD users?
Just thought I'd mention, as a whole of market mortgage advisor, I am heavily regulated by the Financial Conduct Authority in provision of advice, particularly in what can be said, written, etc. Anyone on here that is providing advice needs to be careful. The FCA define advice very broadly, (I. E. You are just about all giving it by their definition), and unless you are qualified, and unless you prefix it with the required regulatory wording, you are breaking the law. Not trying to be a killjoy - just saying be careful. ☺
adamwilko007
plodge
Yes, the Nationwide ERC isn't attractive. First Direct still seems a better package, perhaps they'll match Nationwide's rate.
I would go with First direct but they dont allow you to add the £950 on without affecting LTV. So then you have to risk £950 even if survey comes back terrible or falls through for other reasons 

Perhaps apply for a 65% LTV Fee-Free tracker. If you get accepted, move to the fix then - safe in the knowledge that you're already at 65% LTV.
616

First Direct life time tracker mortgage 65% LTV 1.29% plus base = 1.79% (no fee for existing customers, £950 for new although potential workaround

169
£0.00 @ First Direct
Never need to fix again if you can get this rate, you must be an existing first direct mortgage customer to get this rate, take as lengthy 28-39 year mortgage to ensure your monthly payment is the lo… Read More
Never need to fix again if you can get this rate, you must be an existing first direct mortgage customer to get this rate, take as lengthy 28-39 year mortgage to ensure your monthly payment is the lo…
whatyadoinsucka Avatar2y, 6m agoFound 2 years, 6 months ago169 Comments
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Anyone tempted by their fee-free 5-year fixed rate that dropped to 2.19% this week? Or are you all sticking with the 1.79% tracker?

0.4% seems a small premium to pay for a 5-year fix.
vkalia
marathonic
I'm still mighty tempted by the 2-year fix at 1.49%.
Traditionally, a fixed rate should be higher due to the fact that it's considered insurance against rate rises - especially now with rates at an all time low.
Sure, they could drop another 0.25% - but they could also rise by 1%+ over the next 2 years and, even in dropping by 0.25%, the fixed rate would still be cheaper than the 1.79% tracker.
Just bear in mind the standard variable rate after the 2 years fixed period which tends to be quite steep after the initial attractive rate. I almost signed up for the 1.99% fix for 2 years but then changed my mind to settle in for the lifetime tracker. It also provides the flexibility to sell the house and pay the mortgage in full which you cant do with fix rate mortgages but that depends on the options you are considering.

Yeah, the intention would obviously be to switch rates after the fixed period so the risk isn't really concerning SVR rates - it's more to do with the margin over BOE available in 2 years time.

If the margin over BOE is 1.29% (the same as my current product) or less, I win by securing the fix today. If the margin is higher and/or 2-year fixed rates aren't available at the same margin I lose out.

Likewise, products could be available at 1.29% over base, but with high product fees - meaning that, if the fees exceed the savings made over the next two years, I lose out.

It's all a gamble but my thoughts are that margins will be less than 1.29% when the BOE rate is higher - and I can afford to be wrong as my mortgage isn't excessive.
marathonic
I'm still mighty tempted by the 2-year fix at 1.49%.
Traditionally, a fixed rate should be higher due to the fact that it's considered insurance against rate rises - especially now with rates at an all time low.
Sure, they could drop another 0.25% - but they could also rise by 1%+ over the next 2 years and, even in dropping by 0.25%, the fixed rate would still be cheaper than the 1.79% tracker.
Just bear in mind the standard variable rate after the 2 years fixed period which tends to be quite steep after the initial attractive rate. I almost signed up for the 1.99% fix for 2 years but then changed my mind to settle in for the lifetime tracker. It also provides the flexibility to sell the house and pay the mortgage in full which you cant do with fix rate mortgages but that depends on the options you are considering.
I'm still mighty tempted by the 2-year fix at 1.49%.

Traditionally, a fixed rate should be higher due to the fact that it's considered insurance against rate rises - especially now with rates at an all time low.

Sure, they could drop another 0.25% - but they could also rise by 1%+ over the next 2 years and, even in dropping by 0.25%, the fixed rate would still be cheaper than the 1.79% tracker.
matthew80
vkalia
It looks like the 1.79% interest deal has now ended. The next closest is 1.99% for existing customers, I have my call with the mortgage advisor tomorrow but I dont think I will now be able to switch to 1.79% when the rates have changed as of today. :-(
I think you will find they will honour it. I got called last week and was given an appointment for today. I specifically asked what happens next week if you don't offer this deal anymore and he told me they would honour it because it wasnt my fault I had to wait for a week for the appointment. Got called today and they will be sending me the offer documents in the next few days.

Many Thanks - spoke with the advisor and was confirmed I will still get then 1.79% rate, yipeeeee!
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first direct logoAn Award-Winning Bank, Open 24/7

First Direct was launched in 1989 by Midland Bank, then one of the UK’s biggest banks. It was marketed as an alternative to high street banking, for people who wanted to access their account without having to visit a physical bank. By 1992 it was bought out by HSBC and since then, the number of financial products on offer has grown substantially.

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First Direct provides lots of information about each financial product and service they offer on their website. It is easy to navigate and each section is highly detailed with links to more in-depth PDF documents for customers use.

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To open account with First Direct, you can either call them on 0800 242424, or complete the process online at the current account homepage. You will need:

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When you have opened a First Direct account, you can login to pay bills, make deposits, withdraw money into another account, view your balance and carry out a number of other transactions online, by telephone or through mobile banking. Whichever option you choose, you will need to register for the service through the First Direct website.

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