After bit of advice really.
Currently have mortgage with bank of Ireland and am on their standard variable rate of 2.99% been on it for last couple of years and suits me at the minute. However had phone call from them at the weekend saying they are looking at getting rid of customers and have a deal in place with First Direct. You go on 1.49% + base rate for 2 years and then their standard variable rate which is currently 3.69%. There is no fees and you also get £1000 cash back, all have to pay is £195 redemption fee to bank of Ireland (though will try and get them to waive this)
Question suppose is what do people think, should I take the money and run, or stick with bank of Ireland. Any why are they trying to get rid of customers, suppose to free up some money? Also suppose they could suddenly hike their variable rate to force customers away.
Appreciate nobody has a crystal ball and its all my decision but seems such a big decision when concerns your mortgage.
Thanks in advance for any replies.