first active mortgages (First Active)

Member Name: pat1967

Product:	First Active
Date:	24/08/05 (192 review reads)
Rating:

Advantages: good rates and good deals

Disadvantages: minor problems with application process

After staying with the same mortgage company for many years, I decided it was time for a change and the hunt began for a mortgage with a competitive rate and one that I understood!

Two months later after trawling the net and reading mortgage magazines I decided on First Active. The main reasons were a very good discount rates, good variable rate after the initial discount period and the also website was very easy to understand.

I plumped for a 5-year tracker discount rate, which means whatever the Bank of England rate is for the next five years is the rate I pay. After this period my rate reverts to the Bank of England rate +1.10%. First Active also offers other good deals, all with similar features such as:

Overpayments (up to 10% only during discount period)
Interest calculated daily

I applied online, but I did need to ring First Active to clarify a couple of points, the help line staff where both speedy and knowledgeable which was a good plus point for me.

After completing the online application I received various forms through the post, Unfortunately some of the information given online had been omitted and I had fill in the missing information, which was a bit off a drawback.

Because of the slightly complex nature of my remortgage I had to ring the company handling the conveyencing for First Active numerous times, unfortunately this was not always plain sailing. It seemed to depend on who answered your call, some staff were excellent, however some were poor and I was often left bashing my head against the phone!!


Overall I think I have secured an excellent deal, apart from minor problems on the way the process was not too bad and would on the whole recommend First Active. Since I have had my mortgage, interest rates have dropped and true to their word dropped my interest rate immediately. This makes a refreshing change from some companies, some are very quick to raise rates but have a habit off dragging their heels when lowering them!!

Summary: good deal, easy to understand website and on the whole easy to apply