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Current Account Mortgage?

  • 22-04-2008 11:55am
    #1
    Curvy Vixen
    Registered Users, Registered Users 2 Posts: 1,131 ✭✭✭


    I have just had a call from First Active 'offering' me a cheaper rate than I am on which is a variable rate. At the end of the call she threw in the phrase 'current account mortgage'. I've just had a nose at their website and there is indeed such a thing.

    I am paying 5.5% at the moment and she is offering 5.15% with the other mortgage.

    However, I am suspicious of a bank calling me 'offering' that I give them less money every month....is there a catch??? Does anyone have a current account mortgage???


Comments

  • #2
    Eazy Mortgages
    Closed Accounts Posts: 8 ✭Eazy Mortgages


    There is such a thing and it isn't bad if you have money to sit or have a nice bit of money going into your current account. However you can get cheaper fixed rates that what you are on and what First Active are offering. Given the current cliamte of raising interest rates there is no way in hell i would be sitting on a var rate. If i were you, i'd ring your bank get the best fixed rate you can for around 2 years and sit on it. Other wise your mortgage repayment will rise is the coming days/weeks.


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