Hi, I have been talking to a friend of a friend, who is a IFA, about changing my mortgage to a better deal (just come off a 5yr fixed mortgage at 3.95%, so the move to SVR @ 7.09% is slightly painful!!!)

Anyway, he was steering me towards Woolwich tracker, which was 1,09% over BOE base rate for the life of the mortgage, no arrangement fees, and they would cover legal stuff..

All was going to plan, when he phoned me today to say they had pulled the deal.

As it happened, I bank with First Direct, and logged on this evening, to see what looks (to my untrained eye), a better deal, basically the same, but 0.79% about BOE base rate.

Has my IFA friend of a friend been steering me towards a something that is better for HIM, rather than better for ME? Or is there something I am missing about that First Direct deal. Clearly because I bank with them, the prospect of offsetting is appealing.