The mortgage market has been really competive for the last 10 years or so.  As the property market boomed and lending soared, the banks and building societies fought harder and harder for your business.

They relaxed their lending criteria, to make it easier to get a mortgage.

They dropped their interest rates.

They got rid of mortgage application fees.

They paid your mortgage indemnity bond fee.

And some lenders even offered to pay your legal fees to entice you to switch your mortgage to them. 

But with the credit crunch over the last few months, it appears that some banks just aren’t too worried about being competitive anymore.  

First Active have now introduced a fee of €125 for their existing customers who want to top up their mortgage.  

Charging €125 for the honour of doing business with them!!!  

It’s First Active now, but who knows where it’s going to end. 

Don’t accept it. 

If your bank wants to charge you to do business with them, it’s time to make a few calls and look for a better deal.