First Active to pay €1,000 bounty

First Active will step up competition in the mortgage market this week, when it becomes the third major lender to pay a bounty to customers who take out a mortgage.

7th April, 2007

The lender will offer a €1,000 cash bonus to customers who take out an offset mortgage.

Unlike existing bonuses, which have been restricted to first-time buyers and switchers, the First Active bonus will be available to first-time buyers, existing customers who trade up, and customers who switch their mortgage to the lender.

The offset mortgage, which was launched last November, allows customers to use money in their current and savings accounts to reduce the interest...

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