First Active Remortgage
First Active remortgages are no longer available. First Active was an Irish bank which has been merged with Ulster Bank since 2009, and ceased trading in February 2010. However, for existing customers a First Active mortgage offers simple remortgage solutions at very competitive rates, which stay low long after the introductory period. A range of discounted and fixed-rate packages are available, all with no extended tie-ins and no basic legal or valuation fees.
First Active Review
First Active was founded in 1861 as the Workingman’s Benefit Building Society to facilitate property ownership in Ireland. The group became a public limited company in 1998, and provided mortgage services throughout Great Britain, before merging with Ulster Bank in 2009.
A First Active remortgage from the table above could help you:
- Save on monthly repayments in the early years of the policy
- Consolidate card or loan debts into a single monthly payment with preferable terms and rates
- Protect yourself from unwelcome interest rises
What is a remortgage?
A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:
- Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
- Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.
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