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ECB Rate Decrease - Impact on Mortgage Customers
4th December, 2008: First Active has today announced that customers with Tracker mortgages will benefit from a 0.75% reduction in their interest rate with effect from January 1st. This follows the decision by the European Central Bank to cut rates by 0.75%.
Customers with an Offset Flexible Mortgage will also benefit from a 0.75% reduction in their interest rate. This will be made in line with mortgage contracts on December 17th.
First Active are also pleased to announce that with effect from the 1st January 2009 existing customers with a Standard Variable Rate Mortgage will benefit from a 0.50% reduction in their mortgage rate.