With an offset mortgage from First Direct, customers can make unlimited overpayments if they wish and can also borrow for between 2 and 25 years. These mortgages also allow customers to make withdrawals up to the mortgage limit.
It should be noted that all First Direct offset mortgages are repaid on an interest only basis as repayment mortgages are not available. These are available on remortgaging, equity release, or for house purchases in England, Wales, Scotland or Northern Ireland.
Eligibility and Exclusions:
- Customers must hold a First Direct current account which will be linked to their mortgage, these accounts can also be linked to other savings accounts
- Customers can borrow at a minimum of £30,000
- Minimum salary of £30,000 for sole applicants and £50,000 for joint applicants
- Applicants must not exceed the age of 65 at the end of the mortgage term
- Buy to let or business properties are excluded from these mortgage deals