First active offset t&c booklet

I have a copy of the First Active Personal Offset Banking Terms and Conditions. Part C is titled Offset Flexible Mortgage General Conditons (specific conditions are what is on the loan offer).

Under 'Available Facility' it says 'means any monies where there is a difference between the Faccility and the Total Borrowing and reresents the amount you can withdraw at any time subject to our approval'

Not sure if that is much of a help, there are about 24 pages in booklet. I can scan a relevant page and email it you later if you tell me what you are looking for, send me pm if you want. I know this product pretty well
 

Hi Cremeegg - Do you still have a copy of the offset t&cs? We are looking to move home and have a FA offset facility account, be really helpful if I could get a copy. Thanks.
 
Hi,
Do you still have the booklet? I am in the process of trading up and want to check the exact details of my rights in regards to keeping my tracker rate.

Thanks
 
Hi Monbretia
Late to the party but also looking for a copy of the T&C booklet. Could you email me a copy? I am new on here and cannot pm you. TIA
 
Which part are you trying to check? There are 24 pages in booklet, most of it just general stuff.
 
Hi
I am also trying to get a look at the t&cs booklet 2003 as I am getting nowhere with Ulster Bank. I am interested particularly in the Home Move section. Any help would be really apprectiated.
 
Thank you for looking for me cremeegg.

I guess I'll just have to persevere with Ulsterbank. Currently waiting on them to get in touch with someone familiar with this mortgage to give me a call.
I'm in the same situation as the OP. Would love to know how they got on in the end, but the post is 6 years old.
 
Mmmm, it shoud be irrelevant what it's for but if you want to give a reason then definitely being used for doing up the house, you could run into problems with the investment property reason as those mortgages are meant to be ppr only. No point giving them a reason to say no!
 
I agree it should be irrelevant too but not taking any risks....extension, bathroom and kitchen it is! I'll keep my own lump sum for the other property. Thanks for your help.
 
I had no problem with drawdown once I provided copy of life cover, it was very quick, didn't ask what I wanted it for or any evidence of income which is correct of course. It actually was in my account days before I even got a letter confirming the details. Of course it's a bad deal for UB as the drawdown will be at tracker rate so they hardly want to be giving out more of that!
 
Very interesting Monbretia and Puddle Duck.
Are you both talking about drawing down a bit of a tracker mortgage that was OKed originally but wasn't drawn down previously? It's 10 to 15 years ago since these mortgages were offered. I was under the impression that any unused part of it would time out much quicker than that.
 
It is an old First Active offset mortgage ....which also has a tracker rate, the product allows for a drawdown which is detailed in your statement letter.
 

A feature of the Offset/Current Account Mortgage was that as your balance decreases you could draw down again what is called the available facility amount, it is not exactly what you have paid off, it goes down periodically but there is usually an amount there to re-draw as such, the newly drawdown money is at the same tracker rate of 1.15% over ECB as original mortgage. The repayments obviously go up when you drawdown extra and you must have lifecover in place to cover the new drawdown.

It was a fantastic mortgage type, I haven't paid interest in years on mine as any money you hold in the current account attached to it 'offsets' the interest charged on the mortgage amount.
 
I dunno who designed the product but I would like to thank them I'm still waiting to hear back about my drawdown, they mentioned i may be asked to provide estimates for my planned home improvements.
 
Puddle duck said:
I'm still waiting to hear back about my drawdown, they mentioned i may be asked to provide estimates for my planned home improvements.
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Sounds like they are treating this as a top up mortgage not an offset? The staff member you're dealing with may not be familar with offsets as they haven't been offered for over a decade.
 
Requests go straight to lending in HO though and I'd imagine there must be someone up there who knows how it's done, hard to mix up with a top up as there is no application form like a top up. I just sent in one liner requesting drawdown of x amount of available facility and copy of life cover. Not a question was asked and the funds were just lodged to my offset current account very quickly.
 
Quick update, I received my funds yesterday. While it took way longer than I expected (20 days instead of 5 days) and required lots of complaining - I am happy to have received it. Posting so people are aware they do get processed eventually even in 2020!
 
Very good

I had a look through the booklets I have and it makes no mention at all of it but it's more a T&Cs booklet for the operation of the offset accounts attached rather than the mortgage itself. The mortgage related booklet I have is definitely not the full original one, I think it was just the one issued when they were changed from current account mortgage to offset mortgage as there was a couple of small changes in the way it worked.
 
Junior79 said:
Hello,
Just wondering has anyone out there the t&c booklet that came with the offset current account mortgage from first active circa 2004/2005?
Trying to move mortgage now to new build and having "issues" to say the least from UB.
Cheers
Click to expand...
looking for terms and conditions for first active offset flex mortgage any help greatly accepted foleyportumna@gmail.com
 
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