We got our first mortgage with First Direct because they had the best combination of rates/fees for us at the time. When our fix came to an end, they weren't quite the cheapest option, but the service we got from them was well worth the price to stay with them. We spent over 2 hours on the phone with an advisor chatting about our various options, which saved us tons of money and time (he did a computer-based valuation of our home which lowered our LTV by 15%). The process to re-fix was simple and straightforward - I kept calling up to confirm things because it seemed too easy!
The only things I wish they would do: 1) display the mortgage balance on your online account rather than having to wait for a text alert the next day, 2) adjust their interest rate calculation so that it follows calendar months (ours is offset by 10 days based on when we got our mortgage). Those are very minor complaints though!
Reviewed on: 29th January 2016
Insurance was fine, cancelling policy was a challenge
3
Had a joint life insurance policy with my spouse for ~2 years. Opted to cancel the policy as I could get a better rate elsewhere - was told on the phone that it was all completed and that I should cancel my direct debit as they would automatically take an extra payment otherwise. Did so, and then got urgent e-mails/letters claiming that my direct debit needed to be reinstated or I might lose cover - would have been very upsetting had I now known that I already had replacement cover elsewhere! You would think their system would know that the policy was cancelled and therefore the direct debit was no longer needed.
Reviewed on: 9th November 2015
