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New fixed rate mortgage from First Direct

03 June 2005
First Direct has launched a new three-year fixed rate offset mortgage.

The new deal offers borrowers a highly competitive fixed rate of 5.25 per cent for three years (5.8 per cent APR).

Borrowers can also take advantage of the opportunity to offset savings and current account balances against their mortgage, and make unlimited over and underpayments.

The mortgage is available for up to 80 per cent loan to value (LTV), and reverts to an extremely competitive standard variable rate - currently 5.75 per cent - at the end of the fixed rate term.

"With the First Direct fixed rate mortgage, borrowers can have it both ways - the security of managing their outgoings with the added ability to offset if it suits them," said Richard Kimber, chief executive of First Direct.

According to Research International, First Direct is the UK's most recommended bank.

Click here to find out more fixed rate mortgages.

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