Newest Review: ... so if you do need to have a bank where you are able to deposit cash then this is not for you, however cheques are easily deposited by... more
You don't need to be Intelligent to Bank with IF.
Member Name: daznic
Date: 07/07/01, updated on 07/07/01 (91 review reads)
Advantages: Very Competive Rates of Interest, Can save you thoasands of pounds of interest payments, IF arrange all the transfer of accounts.
Disadvantages: Yet to find one.
When Intelligent Finance first came out it seemed to good to be true and like any normal British person, you wonder what is the catch !! So I didn't investigate any further.
Months later while scouring 'the net' and the newspapers best buy tables for mortgage rates, Intelligent Finance kept appearing as one of the lowest standard mortgage rates around. So I thought I will look into this.
Having sent off for the information, it seemed the concept of I.F. was very sound and no catch. The plan offsets the money you have in your current/savings account against the money you owe ie. Mortgage/Credit Cards. So it can reduces your overall mortgage/credit card payments. Over a number a years this could save you a small fortune.
Having been convinced I decided to apply. I.F. arrange for all the spade work to be done concerning the solicitors and house valuation. They also look after the transfer of your current account. The only fee you have to pay out is for the valuation, which is refunded when your mortgage with I.F has changed over to them.
The current rates are 6.0% variable and there is a 6 month introductory rate of 1.5% below the variable rate. Interest is calculated daily so you immediately feel the benefits of the change of interest rates and the positive balances in your savings/current accounts off setting against your mortgage.
Don't delay join IF today and reap the benefits to save you loadsa money and stop those greedy high street banks ripping you off with high rates of interest and tieing you into their products for years after.
My wife and myself both bank with IF and the only regret is that we didn't join sooner.