First Active v EBS

D

DOS19

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Having examined all my mortgage options, my choice has come down to either First Active or EBS.

There is not much to separate them on rates. I would appreciate therefore any advice as to which of these Lenders are more attractive from the ancillary mortgage services point of view i.e. changing term if circumstances change / flexible payment options / likelihood of future attractive rates etc. (as I will fix initially for around 5 years)

Thanks
 
Hi DOS19
I am presuming that these two lenders were the only ones to approve u for the amount you were seeking as that is the usual reason for choosing these lenders.
I would say that EBS are far more flexible than First Active and, given the choice I would go with EBS although saying that, the 5 yr fixed for FA is 4.95% (APR 5.2%) versus 4.98% (APR 5.3%) for EBS.
In short - if rate is the only consideration go with FA, if flexibility is an issue then EBS wins in my opinion.
In relation to all of this however, remember that flexibility is not really much of an option with any lender when you are on a fixed rate and penalties can accrue if u try to get out of a fixed rate mortgage.
Hope this helps
 
Many thanks for the advice clubsandwich.

Are there concrete examples as to how EBS are more flexible than First Active or is it simply of an intangible nature i.e. that EBS are more generally easier to deal with and more responsive to customers needs than First Active?

clubsandwich said:
Hi DOS19
I am presuming that these two lenders were the only ones to approve u for the amount you were seeking as that is the usual reason for choosing these lenders.
I would say that EBS are far more flexible than First Active and, given the choice I would go with EBS although saying that, the 5 yr fixed for FA is 4.95% (APR 5.2%) versus 4.98% (APR 5.3%) for EBS.
In short - if rate is the only consideration go with FA, if flexibility is an issue then EBS wins in my opinion.
In relation to all of this however, remember that flexibility is not really much of an option with any lender when you are on a fixed rate and penalties can accrue if u try to get out of a fixed rate mortgage.
Hope this helps
Click to expand...
 
From a broker side of things, EBS are much easier to deal with.

Why are you opting for a fixed rate for 5 years? I presume you are aware of possible breakage penalties if you needed to move mortgage/swtich lender or if you came into money and wanted to repay chunks of the mortgage.

Fixed rates are decreasing at present and depending on what the ECB say on Wednesday, you could expect rates to decrease and you may have better fixed rate offers this time next year.

What is the LTV on your mortgage/property? Have you considered a tracker rate?
 
Hi DOS
Its mainly intangible - although with a bit of luck you won't have to have regular dealings with your mortgage company - just pay the DD every month and you won't hear from them for years (until the fixed rate is up)
 
clubsandwich said:
Hi DOS19
I am presuming that these two lenders were the only ones to approve u for the amount you were seeking as that is the usual reason for choosing these lenders.
I would say that EBS are far more flexible than First Active and, given the choice I would go with EBS although saying that, the 5 yr fixed for FA is 4.95% (APR 5.2%) versus 4.98% (APR 5.3%) for EBS.
In short - if rate is the only consideration go with FA, if flexibility is an issue then EBS wins in my opinion.
In relation to all of this however, remember that flexibility is not really much of an option with any lender when you are on a fixed rate and penalties can accrue if u try to get out of a fixed rate mortgage.
Hope this helps
Click to expand...

Hi Clubsandwich,
Just trying to understand your logic for choosing EBS due to flexibility. Surly choice should be made on the basis of rate? I understand all lending institutions have breakage penalties re fixed rates? Would both institutions pay the same commission to Brokers?
 
Eoin - EBS pay nothing to brokers (they don't operate in the broker channel anymore), First Active pays 0.5% - though the relevance of this to the current conversation is lost on me???? As stated in my post, if rate is the only consideration then FA wins. You should re-read the OP's comments to get the context of my post instead of making what appears to be an insinuation on why I made my comments!
 
I can't comprehend the notion that EBS are flexible. They do not offer payment breaks and they very rarely offer interest only.
 
Hi Clubsandwich,
Apologies, i though EBS were operating under a brand Haven? That paid 1%...
 
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