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New offset mortgages launched by first direct


The offset mortgages are priced at 4.75 per cent (6.5% APR) and the 5-year fixed rate offset mortgage is priced at 4.99 per cent (6.1% APR). These interest rates will commence from today, Friday 18 January.

First Direct has been the only bank to divert the pass on recent full interest base rate cuts to new and existing customers.

These offset mortgages are known to be very flexible. Customers can move from one property to another for however many times they choose and no mortgage transfer fee will be charged, overpayments can be made also underpayments. The first direct Offset Mortgage deal gives borrowers a market leading rate of 4.75 per cent, which is fixed for 2-years. The mortgage product consists an arrangement fee of £499 alongside a booking fee of £999.

There are also other advantages that this mortgage deal carries; the mortgage consists of an £299 arrangement fee and booking fee of £299. The maximum LTV is 80 per cent. The minimum loan size is £15,000, the borrower has the option to make unlimited overpayments.


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