First Direct Deals

First Direct Deals & Discounts

25 hot deals
344°
Personal Finance
First Direct Tailored deals with Visa Offers Boots H&M Esso Costa Lidl Dunelm Nike Store Ibis Holland and Barrett ETC
Now FD customers can enjoy same benefits as Nationwide customers been enjoying since 2011. Sign up and you will get access to spending cashbacks from Visa. Current offers include but not limited to: … Read more
Latest commentsPost comment

Sharpharp33 m ago

Just a heads up for the "stacker" massive.... u know who you are …Just a heads up for the "stacker" massive.... u know who you are Boots today - Combine the following for some serious savings at Boots:1) TCB for cashback2) 20x Boots points of a £50 spend (ends today) £50 = 1000 points, i.e. £10 in reward points to spend3) Use your HSBC/First Direct Card for £5 cashback off a £40 spendI'm on my 8th order right now lol


What are you purchasing?

Just a heads up for the "stacker" massive.... u know who you are

Boots today - Combine the following for some serious savings at Boots:
1) TCB for cashback
2) 20x Boots points of a £50 spend (ends today) £50 = 1000 points, i.e. £10 in reward points to spend
3) Use your HSBC/First Direct Card for £5 cashback off a £40 spend

I'm on my 8th order right now lol

Finally got an official response from VISA:

Thank you for your query and for using HSBC Visa Offers.

We can confirm that the offer can be redeemed at all Esso branded petrol station, including the ones with Tesco Express attached to it.

Kind regards,

HSBC Visa Offers Support | Visa | visaeurope.com

Quite annoying really as I filled up an Esso which was 10p/litre dearer than the Esso with Tesco Express nearby
Edited by: "flyingflea" 11th Sep

Rulandas9th Sep

Did anyone try to pay by android pay? And get the deal. Thanks

I avoid doing that as it delays the cashback

Original Poster

Did anyone try to pay by android pay? And get the deal. Thanks
-25°
EXPIRED
Personal Finance
£30 cashback on First Direct credit card Editor
Fancy bagging a free £30? First Direct is offering £30 cash to First Direct current account customers who take out a credit card with the bank. You can get the £30 in one of two ways: Spendin… Read more
Latest commentsPost comment

Existing customers only. Can get m&s cashback and don't need to be exisiting customer. So cold

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1615°
Personal Finance
5 year Fixed Rate Mortgage 1.84% - No Fees - Unlimited extra repayments @ First Direct
Spotted that FD have further reduced their 5 year fix mortgage to 1.84% which matches the HSBC deal but with unlimited extra overpayments. Maximum LTV is 60% Recent thread for reference
Latest commentsPost comment

I've rebooked an appointment to move to this rate. Should get talking to them next week. I believe we're in the final days of fee-free mortgages at a rate as low as 1.84%.

I called up last Friday for a remortgage and had a 1h initial income and expenditure interview; at the end of the interview was told I passed the initial affordablty and i will be called again in the few days to book an appointment on the phone with a mortgage advisor.
In the mean time i had to scan and send online my 3 months pay slips,3 months bank statements and last 2 years p60. On Monday the mortgage advisor called and booked me in for Wednesday. On Wednesday the advisor called at the right time and and went through my bank statements; it wasn't that intrusive as some have made it out.
Also the value of the property which they used their own system to value my property which added another £75k to my LTV
They also wanted to find out what type of product i was looking for and why (2 or 5 or 10 year fix) the second part of the interview was an assessment of what I needed and for them to give their recommendation. The call was around 1h 25m and at the end of the call the advisor. They told me that hopefully I should get a response if i have been approved the mortgage in principal in the next few hours.
An hour later I received a call letting me know that iv been approved subject to the underwriters and that no Survey valuation was needed. That same day i sent a copy of my passport via a web com connected to first Direct via a link they provide.
On Thursday I received the fact illustrations and declaration to sign and send and also my signature for their register:/ . Today i got a copy of my mortgage report and recommendation they advised on the phone and since my product was fee free the advisor also reserved my interest rate on the phone.

And just waiting for the underwriters to complete their side of things. And its only been 8 days from my initial point of contact.

Happy days

whatyadoinsucka3 h, 14 m ago

Can you easily afford your current mortgage payment, people tend to take …Can you easily afford your current mortgage payment, people tend to take out fixed rate mortgages for protection against rate rises, as with all insurance you will pay a premium for this safety. If you think interest rates will go up then you could save money, timing is key.being on a tracker, long term you will always pay lower interest payments, have less fees and more likely to pay it offquicker as no penalties for overpayment etc i remortgaged and took out out an extended mortgage on a 5 year fix and kept my original mortgage as a base rate tracker. The additional security of the fix cost approx £12 a month .its so unpredictable what will happen in regards interest rates, one thing to see is banks are more than willing to offer long term fixes at very low rates, hence it's unlikely they would do this if they've expected interest rates to rise rapidly in the short term


Ended up switching to a 1.49% tracker through nationwide, took me 5 minutes, no fees and I think I may get £100 as they have something on their site about getting £100 if you stay with them. Overall very happy

I'm on a 2.39% Fixed with First Direct no fees for 5 years. All outstanding credit cards being paid no missed pay and around 20k debt. Awful I know but I got the deal, go for it
Edited by: "anthony69" 24th Aug

badasschris21st Aug

on a 1.7% tracker, not sure if I should go for this or not



Can you easily afford your current mortgage payment, people tend to take out fixed rate mortgages for protection against rate rises, as with all insurance you will pay a premium for this safety. If you think interest rates will go up then you could save money, timing is key.

being on a tracker, long term you will always pay lower interest payments, have less fees and more likely to pay it offquicker as no penalties for overpayment etc

i remortgaged and took out out an extended mortgage on a 5 year fix and kept my original mortgage as a base rate tracker. The additional security of the fix cost approx £12 a month .

its so unpredictable what will happen in regards interest rates, one thing to see is banks are more than willing to offer long term fixes at very low rates, hence it's unlikely they would do this if they've expected interest rates to rise rapidly in the short term
Edited by: "whatyadoinsucka" 24th Aug
1685°
Personal Finance
10 year fixed rate mortgage @ 2.49% (5y: 1.84%, 2y: 1.59%), no fees, unlimited extra repayments - First Direct
10 Year Fixed Repayment Mortgage @ 2.49% ( Link ) 5 Year Fixed Repayment Mortgage @ 1.84% ( Link ) 2 Year Fixed Repayment Mortgage @ 1.59% ( Link ) Maximum LTV 60% (so minimum dep… Read more
Latest commentsPost comment

bingukusa3 h, 28 m ago

Rate is not fixed. Only repayments are


What do you mean by this. Is it just semantics or does it ACTUALLY make a difference. Is this Fixed Rate NOT what it appears to be. Can you please enlighten me as I am just about to go for this.

Rate is not fixed. Only repayments are

What is the most painless or rather least painful option.

Applying online or over the phone?
Edited by: "RAFAVDV" 23rd Aug

ridders1 h, 49 m ago

Is chucking money at SIPP and getting the tax relief a better thing to do …Is chucking money at SIPP and getting the tax relief a better thing to do rather than overpaying on the mortgage?

Well as a general rule you should be putting 15% of your income into retirement and then overpay what you can on your mortgage so you should really be doing both if you can.

jcluk6th Aug

Unlimited overpayments are the clincher for this one. Fantastic way to …Unlimited overpayments are the clincher for this one. Fantastic way to guarantee a great return on your money by saving thousands in interest and get yourself debt free far quicker.

Is chucking money at SIPP and getting the tax relief a better thing to do rather than overpaying on the mortgage?
485°
EXPIRED
Personal Finance
Fee-Free International Payment by 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
Latest commentsPost comment

Original Poster

faxmax

Where is this? All I see is



Login to your account and you will see the option to send GBP
Edited by: "lhwjud" 26th Jul

marathonic

It does give the option for a sterling transfer. You'd probably need to … 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.

If you ask us to convert a payment into a different currency before we … 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.



Where is this? All I see is:

rodulett

I see a few on here speaking highly of Transferwise.Anyone know how they … 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" 26th Jul

I see a few on here speaking highly of Transferwise.

Anyone know how they compare to MoneyCorp ?

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487°
EXPIRED
Personal Finance
First Direct £125 to switch plus £250 fee free overdraft plus 5% saver
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 Dir… Read more
Latest commentsPost comment

taker

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

I suppose none of you have tried M&S bank?and that includes not only the … 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 … 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" 19th May

rooney10

It obviously shuts down only the account you switch from , details of … 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 … 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 … 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°
EXPIRED
Personal Finance
First Direct 0% Balance transfer credit card 27 months - £30 back
27 months interest free 2.29% fee £30 back if at least £100 is transferred
Latest commentsPost comment

akajay07

Seen a couple of these deals getting hot recently and I don't really … 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?
-19°
EXPIRED
Personal Finance
First direct 0% Balance Transfer for 27 months (2.29% fee) free £30 cashback if you transfer £100+
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. Be aw… Read more
Latest commentsPost comment

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 hotukdeals.com/dea…420

Original Poster

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!

Original Poster

meanmoose

22.90% fee seems excessive lol.


Turns out the deal is a lot better than I originally posted
424°
EXPIRED
Personal Finance
New Range of First Direct fee-free Mortgages: 5yr fix @ 1.94%, 10 yr fix @ 2.49%
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 g… Read more
Latest commentsPost comment

Original Poster

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.

Original Poster

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" 18th Feb

marathonic

Correct me if I'm wrong but were you a First Direct customer on their … 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" 18th Feb

Original Poster

whatyadoinsucka

The five year HSBC fix rate came in a couple of weeks ago, is agreed 2.25 … 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" 18th Feb
599°
EXPIRED
Personal Finance
5 Year Fixed Rate Mortgage 60% LTV: First Direct 2.08% ZERO SIGN UP FEE / PORTABLE
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 above … Read more
Latest commentsPost comment

Original Poster

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

Original Poster

pKaTz

so if I said I was going to live in the house and then rent it out, what … 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?

Original Poster

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.
670°
EXPIRED
Home & Garden
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)
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 firs… Read more
Latest commentsPost comment

swoodworm

Seems to be a big debate on overpaying mortgage or using savers accounts. … 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!

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.
832°
EXPIRED
Home & Garden
First Direct offers £150 for switching your current account
First Direct offers £150 for switching your current account
Latest commentsPost comment

Slashed to 100 from £150

Got mine within about 2 weeks

Original Poster

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
1788°
EXPIRED
Home & Garden
10 year fixed rate mortgage 60% LTV: First Direct 2.89%
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 great t… Read more
Latest commentsPost comment

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.
93°
EXPIRED
Other
First Direct current account switch £150 + £25 for applying for and using their credit card
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 g… Read more
Latest commentsPost comment

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

Original Poster

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" 18th Jan 2016
75°
EXPIRED
Other
first direct £150 switch bonus new special link up
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
Latest commentsPost comment

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"?
-46°
EXPIRED
Other
£150 is back on for switching current accounts at 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, it appea… Read more
Latest commentsPost comment

I have been with First Direct since they first appeared and wouldn't go anywhere else. Customer service is second to none 24/7.

Original Poster

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

No direct debits needed. The only requirements refer to paying in £1000 … 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-accountIf 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

Original Poster

zlain

Would you know if you need any direct debits with the switch? I can't … 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

Yes, the other suggestion from fellow contributors was to open a credit … 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°
EXPIRED
Home & Garden
First Direct 2 Year Fixed Rate 2.48% - 90% LTV £1450 Fee Limited Edition.
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 would … Read more
Latest commentsPost comment

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" 13th Jul 2015

Fee seems a bit high

Palwan

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.
361°
EXPIRED
Home & Garden
First Direct 2-year Fixed mortgage 65% LTV 1.49% (no fee for existing customers, £950 for new although potential workaround)
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 now … Read more
Latest commentsPost comment

Original Poster

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.

Original Poster

stuartwilson754365

If you pay £950 fees every 2 years over a 25 year mortgage you add over … 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% … 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.
58°
EXPIRED
Home & Garden
First Direct - 3 year fixed 1.78% mortgage - 65% LTV - £1450 BF
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!
Latest commentsPost comment

Original Poster

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.

Original Poster

Damn, just phoned and checked as this is a limited edition mortgage. The BF is payable

mchu6am4

What do you mean you don't pay fees? I'm with FD on their standard … 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" 23rd Apr 2015

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