First Direct Deals

First Direct Deals & Offers

33 hot deals
A UK bank which specialises in telephone and online banking, First Direct offers a range of financial services to their customers, including mortgages, credit cards, loans, and savings. Consumers can find out about the bank’s best offers as soon as they are announced by checking the HotUKDeals First Direct page. Read more

All First Direct Deals, Discounts & Sales for January 2018

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Back up to £125 to join First Direct as so many don't seem to like HSBC. Also £300 for regular saver @ 5% and fee free overdraft upto £250
487°Expired
Found 31st Dec 2017Found 31st Dec 2017
1st AccountJoin Britain's most recommended major bank* Britain's most recommended major bank? You're all too kind. We're blushing... But we do try hard to make banking something w… Read more

I've tried the form twice and it comes up error. Has anyone else had these problems?

jackchappell31st Dec 2017

I'm the same, the Natwest app is perfect. I've applied for the account - …I'm the same, the Natwest app is perfect. I've applied for the account - do I have to start the switch straight away to get the £125 or can it be in a week/month?


The NatWest app was my first and ever since, all the other banking apps seemed utter clunky rubbish that make you jump through 10 hoops to even get to see your balance.

Make sure to disable adblock/uBlock to track the extra £25!

I just switched but haven't received any confirmation emails so hope it has gone through... Barclays have been ****** me off, plus I wanted Android Pay.
Edited by moderator: "removed swear word" 4th Jan

How hard is it nowadays to switch banks? I have been with Clydesdale for decades. Never done me any favours so this looks like a good deal to jump ship.

I just applied for account and for switch, but my switch date is 30/01/2018... I thought switching process takes 7 days, not 4 weeks
Very unhappy with this
First Direct, 10-year fixed mortgage, 2.69%, no fee
1411°
Found 19th Dec 2017Found 19th Dec 2017
Hey… another 10-year fixed rate mortgage for people who want to lock-in a rate for a decade to consider: First Direct is offering: 10-year fix at 2.69% No fee Max LTV 75% … Read more
Editor Get dealGet deal

jazlabs20th Dec

Since when have lenders ever given a "reason" for rejecting you credit? …Since when have lenders ever given a "reason" for rejecting you credit? They have their criteria, you fail to meet it. There are plenty of articles about checking and improving your credit score; start there. If that's all OK, then you probably just fail the affordability check - try to borrow less by increasing your LTV and reduce your outgoings.


Nothing to do with credit score, couldn't get any higher, nothing about affordability, never missed a DD in the years of having a mortgage and no other credit etc plus this was a remortgage.

There doesn't have to be a reason given you are quite correct, and FD will have their own additional criteria however sometimes it feels illogical

581d11 h, 51 m ago

Firstly, I bank with First direct, they are indeed a fantastic bank....at …Firstly, I bank with First direct, they are indeed a fantastic bank....at current and savings account banking may I add. Secondly, my credit score is fine, you've no need to worry. 400k mortgage application never actually declined with first direct, but the continual, 'can you get more deposit' and do this, do that, 3 weeks later I gave up. Had mortgage with Halifax 3 days later. FD are notoriously and ridiculously picky with their mortgages.


I don't worry about your credit score. I just tried to find a reason, because sometimes people create quickly opinion without finding true. Maybe LTV was an issue. I had £190,000 loan on £400,000 property and maybe it is why i didn't have an issue, but anyway it is good that everything had a good end with your mortgage, even if it is not first direct.

bobziz1 h, 31 m ago

Nope, not me. Depends how well you think the economy will do in that …Nope, not me. Depends how well you think the economy will do in that period. Base rates will need to go up 6 times before you would gain, and I think we'll be waiting a long time for that to happen.


I tend to agree, but many analysts don't. There are predictions of multiple rate increases in 2018 alone, rising up to 1.25%. However, in the wake of Brexit, I see the undeniable uncertainty to stall the economy for at least 10 years.

hotyoda12 h, 49 m ago

Right I'm gonna pick the brains of the great and frifty HUKD …Right I'm gonna pick the brains of the great and frifty HUKD community....So if you had a 0.75% plus base for next 14 years would you fix at this for 10 years? Been toying with the idea of fixing for a year or so but really am in five minds.........


Nope, not me. Depends how well you think the economy will do in that period. Base rates will need to go up 6 times before you would gain, and I think we'll be waiting a long time for that to happen.

huhunter16 h, 35 m ago

I remortgaged in July at 2.5%. After I filled application, 30 minutes …I remortgaged in July at 2.5%. After I filled application, 30 minutes later they asked me to scan payslips and work contract and other bank statement. 6 hours later I already had successful decision. In November I took £30,000 loan for house extension at 3%. After I filled application, they told me that my application was accepted. After I agreed to term an conditions, money was immediately transferred to my account, so don't blame first direct as it is fantastic bank. Rather look at your credit score - I usually use experian and before I will apply for lian/mortgage I always keep it at minimum 950.


Firstly, I bank with First direct, they are indeed a fantastic bank....at current and savings account banking may I add. Secondly, my credit score is fine, you've no need to worry. 400k mortgage application never actually declined with first direct, but the continual, 'can you get more deposit' and do this, do that, 3 weeks later I gave up. Had mortgage with Halifax 3 days later. FD are notoriously and ridiculously picky with their mortgages.
10% back on Nike store with First Direct Visa Offers
96°Expired
Found 18th Dec 2017Found 18th Dec 2017
Seems the 25% off at the nike store sale items has ended but Visa offers are now doing 10% cash back on all nike store purchases. Runs from today until the 31st so if the sale cod… Read more

Original Poster

Good question well presented to which I don’t know the answer to

Hi, does the purchase has to go through that website? meaning does the money get refunded like American express if you just use card as normal, as wondering if you can use topcashback and redeem this offer too?

thanks

This has been on an off for the last few months.
First direct switching cash £125 + 5% Regular saver (£300/month saving earn £97.50 interest)
336°Expired
Found 11th Nov 2017Found 11th Nov 2017
Switch to first direct using money saving expert link and get £125 for switching * need to pay 1000 within three months to receive the incentive, keep the money for a day and take… Read more

It doesn't matter which link I use I always see just £100, not £125. I guess the deal is expired?

Rkp2 m ago

What do you mean? They started sending loads of documents to sign and …What do you mean? They started sending loads of documents to sign and return. Better to give a call to customer care.


I applied online a week or so ago and haven't heard a thing. No email, text or mail.
Will give them a ring

Original Poster

sterankin37 m ago

Applied for first direct a week ago, not heard anything. Anyone heard?

What do you mean? They started sending loads of documents to sign and return. Better to give a call to customer care.

Applied for first direct a week ago, not heard anything. Anyone heard?

Original Poster

ahmed30464 h, 43 m ago

What is the santander123 account??

Satander123

It pays 1%, 2%, 3% cashback on various bills, mortgage etc
Plua 1.5% interest on balances upto £20,000

There is a charge of monthly £5 so overall your cashback and interest need to compensate that.

£500 monthly payin + 2DD

There is a very good analysis on moneysaving expert to maximise the return on the balances across various accounts. But if you are high saver then Satandar123 still beets all.

Also check satander123 lite..


Hope this helps.
Lots of cashback rewards from various places with First Direct visa card e.g £5 reward for spending £40 on Esso fuel
329°
Found 24th Oct 2017Found 24th Oct 2017
Use your First Direct Visa card at selected retail outlets to get substantial cashback. For example: £5 reward for spending £40 on Esso fuel £10 reward for a £40 shop at LIDL… Read more
Get dealGet deal

philbean24th Oct

I did the Esso one and had to chase them for the £5.Did get it in the end …I did the Esso one and had to chase them for the £5.Did get it in the end though.


Ditto and yet another claim in.
4 offers over 2 cards and all claims.

Original Poster

Must be staggered for different areas as my LIDL offer is available to me. It expires in 4 days time...
Edited by: "tmohammad" 25th Oct 2017

littel.helper16 h, 40 m ago

I have used this offer for Lidl few weeks back. cant see Lidl offer in my …I have used this offer for Lidl few weeks back. cant see Lidl offer in my account. makes me thinl you can only claim once for each retailr.


I was wondering this too. but not sure, because the Lidl offer expired on the 20th.

I did the Esso one and had to chase them for the £5.
Did get it in the end though.

I don't have lidl in the offer, why? I do have esso and h&m 10cb for 40£spent
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Its back First Direct and HSBC £10 cash back off £40 spend at Lidl with Visa
396°Expired
Found 6th Oct 2017Found 6th Oct 2017
as title could also be on HSBC cards as well, make sure you register your card.

well i activated the lidl offer and spent £40.54 instore and i still havent received the £10 cashback, the website has no contact details, so i submitted a contact form, we'll see what happens

y-oh-y13 h, 8 m ago

Would this work if you only spend say £11 and asked for £30 c …Would this work if you only spend say £11 and asked for £30 cashback?Surely it would then show as a £41 spend?I'll try it later.



Didn't know they did cashback in Lidl - let us know if it works, should show up on the visa offers page before the cashback hits your bank account.

Tim20118 m ago

I like the way you think I'd be surprised if it works but you never …I like the way you think I'd be surprised if it works but you never know. Let us know how you get on.



Tried it anyway, nothing to lose.
£17+ spend, £25 cash back.

***** not many like the way I think. ;-)
Thanks

y-oh-y4 h, 6 m ago

Would this work if you only spend say £11 and asked for £30 c …Would this work if you only spend say £11 and asked for £30 cashback?Surely it would then show as a £41 spend?I'll try it later.


I like the way you think I'd be surprised if it works but you never know. Let us know how you get on.

Would this work if you only spend say £11 and asked for £30 cashback?
Surely it would then show as a £41 spend?
I'll try it later.
FIRST DIRECT & HSBC VISA OFFERS: £5 Off £40 Fuel Spend @ ESSO
308°Expired
Found 6th Oct 2017Found 6th Oct 2017
First Direct & HSBC customers can get £5 off a minimum spend of £40 on fuel at Esso. You need to be registered with Visa Rewards first - see below: First Direct Rewards: fi… Read more
Get dealGet deal

Realscottylad22 h, 17 m ago

I clicked on the link to esso in the online visa offers website & used …I clicked on the link to esso in the online visa offers website & used their garage finder to see which local esso supplier was closest & open. Spent £45 on fuel & waited... & waited. It was only after a week & a half I looked back & saw its limited to 'participating garages', and there's a 'finder' on the visa offers esso webpage, doh ! I'm also wondering who & how posters above me emailed complaints about failed offer purchases as I can find no contact details on the visa offers website.


I used the find a garage on the link from the esso deal, so even tho it was a tesco garage, it was listed so knew it was valid. My earlier post about email was a mistake, I used the online webform on the visaoffers help page. Sign in > click Help > Scroll down to the bottom and select Other > Scroll down to the bottom again and there's the Issues webform. good luck.
..and this...
Please provide the following information found on your receipt when you contact us:

  • Date of transaction
  • Retailer name
  • Amount paid
  • Last 4 digits of the HSBC Visa card used
Edited by: "Franken" 8th Oct 2017

I clicked on the link to esso in the online visa offers website & used their garage finder to see which local esso supplier was closest & open. Spent £45 on fuel & waited... & waited. It was only after a week & a half I looked back & saw its limited to 'participating garages', and there's a 'finder' on the visa offers esso webpage, doh !
I'm also wondering who & how posters above me emailed complaints about failed offer purchases as I can find no contact details on the visa offers website.
Edited by: "Realscottylad" 7th Oct 2017

This says it expires tomorrow on mine.

But I used the Costa deal last month in a costa franchise and it still gave me the cashback no problem

Be wary, I've had a 75% failure rate with these offers, some track, other don't.
Oh and don't expect any help from HSBC on this, their customer services don't even have a clue about this promotion.

I'm still waiting for the Boots £5 cashback via HSBC from 2 weeks ago. After several emails from utterly useless hsbc online customer services, I've escalated, but alas still no reply.

Still chasing them for a Lidl £10 - unreliable tracking system and hopeless to deal with.
First Direct free £125 if you switch back on plus free £250 overdraft if you need it! Mse exclusive
231°Expired
Found 4th Oct 2017Found 4th Oct 2017
Apply via our link and First Direct* offers £125 if you switch to it. It's one of our top picks due to its excellent customer service – it's won every bank service poll we've eve… Read more

xp25005th Oct

The site seems to say £100 bonus instead of £125... is there something I a …The site seems to say £100 bonus instead of £125... is there something I am missing?


You have to use the link in the description with * next to first direct. The normal 'go to' link takes you to their normal £100 link. Hope this helps.

The site seems to say £100 bonus instead of £125... is there something I am missing?

So i s First Direct separate from hsbc? Im a HSBC customer and just wondering if i could get this deal?

I have a joint bank account with my wife. We were going to switch to HSBC for their current offer but than found out my wife had a current account with them still as she forgot to close it years ago.

Anyone no if we could switch to first direct and benefit from the switch offer?

I've been a First Direct customer for the last 7 years. The customer service used to be excellent however over the last 2 years the service is not anywhere near as good as it used to be (although probably no worse than it's closest competitors). Main change are the long queues rather than the content of the calls.

I had a very bad experience when I went to recommend a friend, it was clear at that point that it's not the bank it once was.

The 'new' app was the last straw for me. It really is terrible. I opened up a Nationwide account last year and have now decided to use this for my new account.

Although, free money is free money. It's worth changing if you have a decent credit score and are not intending to have major financial reshuffles in the near future (new mortgage, new car etc). Though, I would only ever use FD as a second account.
Edited by: "gary333" 5th Oct 2017
£25 cashback on First Direct 17-month 0% purchase credit card
57°Expired
Found 4th Oct 2017Found 4th Oct 2017
Special offer for First Direct current account customers: £25 cashback when you spend at least £1,000 with a first direct Gold Card within the first six months of opening your… Read more
Editor Get dealGet deal

Don't expect the card itself to be gold in colour. They changed it years ago to fit their brand. It's now black with gold lettering and numbers. Still looks smart until the numbers start wearing. I know that has nothing to do with the deal, but some peeps like to flourish their 'Gold' cards when paying for things.
First Direct Tailored deals with Visa Offers Boots H&M Esso Costa Lidl Dunelm Nike Store Ibis Holland and Barrett ETC
345°Expired
Found 31st Aug 2017Found 31st Aug 2017
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 b… Read more

Proj2 h, 38 m ago

Can I buy some amazon or google play gift card from Lidl? Like other …Can I buy some amazon or google play gift card from Lidl? Like other supermarket sell gift cards of other retailers


Lidl don't sell gift cards of any kind

@Proj Visa's intention is probably so you can use any of your registered cards to get the offer once. If you want multiple dips, it seems you have to register each card separately under a separate email address.

Rulandas1st Sep

You will probably be able to use the offer only once. unless stated …You will probably be able to use the offer only once. unless stated otherwise. That is why you need separate accounts for each card.

I can see visa offers page clearly says offer available on all registered cards instead of just once per account. If later was the case then they would not let you register multiple cards with one account.

backinstock31st Aug

I've just signed up and will use the Esso £5 off £40.A few Tesco Express s …I've just signed up and will use the Esso £5 off £40.A few Tesco Express shops are connected with an Esso station, so an option to buy giftcards.£10 off a £40 spend at Lidl too. Stock up on booze. ;-)

Can I buy some amazon or google play gift card from Lidl? Like other supermarket sell gift cards of other retailers

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?
5 year Fixed Rate Mortgage 1.84% -  No Fees -  Unlimited extra repayments @ First Direct
1631°
Found 15th Aug 2017Found 15th Aug 2017
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 r… Read more
Get dealGet deal

delusion15th Aug

Seems expensive to me for 60LTV, I suppose it depends on your …Seems expensive to me for 60LTV, I suppose it depends on your circumstances, but if I was a few years away from clearing my mortgage and not 33 I'd probably be less bothered about the terms (currently paying 1.14% with cashback on payments).

Intrigued about our current deal as I'm looking to remortgage. Is that a fixed rate? How long is it fixed and when did you take it out? What's your LTV?

androoski15th Aug

The last few years of the mortgage term are glorious as you see the …The last few years of the mortgage term are glorious as you see the outstanding loan reduce really quickly as the balance of payments goes onto the capital instead of interest and the sight of freedom appears on the horizob.I would have snapped this up but I'm already in one that will take me to the end of the mortage.

Good on you! May we all experience that feeling before our hairs turn grey!

Also underlines the importance of overpaying, even £50 -£100 per month can make a big difference in the years reduced PLUS you save on interest payments.

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
10 year fixed rate mortgage @ 2.49% (5y: 1.84%, 2y: 1.59%), no fees, unlimited extra repayments - First Direct
1688°Expired
Found 6th Aug 2017Found 6th Aug 2017
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… Read more
Get dealGet deal

i have been waiting since September 21 - no decision on my application so far, is this normal?

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 2017

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.
Fee-Free International Payment by first direct
485°Expired
Found 25th Jul 2017Found 25th Jul 2017
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 ben… Read more

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 2017

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 2017

I see a few on here speaking highly of Transferwise.

Anyone know how they compare to MoneyCorp ?
First Direct £125 to switch plus £250 fee free overdraft plus 5% saver
487°Expired
Found 16th May 2017Found 16th May 2017
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 (£10… Read more

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 2017

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.
First Direct 0% Balance transfer credit card 27 months - £30 back
392°Expired
Found 8th May 2017Found 8th May 2017
27 months interest free 2.29% fee £30 back if at least £100 is transferred

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?
First direct 0% Balance Transfer for 27 months (2.29% fee) free £30 cashback if you transfer £100+
-19°Expired
Found 14th Apr 2017Found 14th Apr 2017
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… Read more
Get dealGet deal

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
New Range of First Direct fee-free Mortgages: 5yr fix @ 1.94%, 10 yr fix @ 2.49%
424°Expired
Found 16th Feb 2017Found 16th Feb 2017
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 lin… Read more
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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 2017

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 2017

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 2017
5 Year Fixed Rate Mortgage 60% LTV: First Direct 2.08% ZERO SIGN UP FEE / PORTABLE
599°Expired
Found 22nd Jul 2016Found 22nd Jul 2016
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, yo… Read more
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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.