UB UFirst Discounted Rate?

[ButtermilkJa]

I see Ulster Bank are now offering first time buyers a tracker rate of ECB +0.75. However, their UFirst tracker (according to their website) is ECB +0.95. Seems hard to justify the €9 monthly fee now!

I am currently on their UFirst LTV <80% tracker at ECB +0.75 and am now wondering is it time to get rid of the UFirst Current Account as their is no longer any advantage - in terms of the mortgage rate anyway.

Has anyone been on to UB about this and cancelled the UFirst a/c?

 

[irishlinks]

I guess if you cancel the account you will go onto their basic tracker <80% LTV which is ECB + 0.95 . I suppose the value of the lower rate compared to the account fees - depends on the size of your mortgage.
Just because the FTB rate is ECB plus 0.75 - it doesn't mean they will let you have it . It's there to get new customers. You could threaten to move your mortgage and they might give you a better rate.
If you are not going to be hit by any penalties it might be worth looking at switching anyway - especially if your LTV is low - NIB or PTSB would beat the Ulster rates.

 

[ButtermilkJa]

To be honest, my LTV is only about 70%, not too low. I'm already on ECB +0.75 so I'm not too put out, but I just don't like the idea of paying €9 per month for the privilege.

Having said that, the thought of trying to contact UB and get them to actually do something for me is bringing me out in cold sweats!

 

[Banking2006]

Bottom line with UB is don't settle for less than 0.5 margin on the ECB rate and avoid their home insurance- was quoted 3 times what i am paying elsewhere. Also no requirement to have U first account to get low tracker rate.