First Direct Offset Mortgages

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1.40%Reverts to 3.99% after 2 years


Overall Cost for Comparison 3.70% APRC. This is the cost of the mortgage over the full term. Early redemption charges may apply.

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

1.40%

Reverts to 3.99%

2

Years

60%

YesMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.70% APRC. This is the cost of the mortgage over the full term.
Tracker

1.84%

Reverts to 3.99%

2

Years

60%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.
Tracker

2.07%

Reverts to 3.99%

2

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.
Fixed

1.79%

Reverts to 3.99%

5

Years

60%

YesMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.30% APRC. This is the cost of the mortgage over the full term.
Fixed

1.79%

Reverts to 3.99%

5

Years

60%

YesMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.30% APRC. This is the cost of the mortgage over the full term.
Fixed

2.27%

Reverts to 4.49%

5

Years

75%

YesMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.70% APRC. This is the cost of the mortgage over the full term.
Fixed

3.03%

Reverts to 3.99%

2

Years

85%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.90% APRC. This is the cost of the mortgage over the full term.
Fixed

2.94%

Reverts to 3.94%

10

Years

80%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.30% APRC. This is the cost of the mortgage over the full term.
Fixed

4.10%

Reverts to 3.99%

2

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.

Representative Example:


A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.


The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).


In this example the overall cost for comparison is 3.7% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

First Direct are a division of HSBC that provide a number of financial services on the internet and over the telephone.
Like many other banks and building societies, First Direct offer offset mortgages.

 

Before deciding on whether a First Direct offset mortgage might be best for you, it is advisable to research and compare offset mortgage deals from several different providers. Comparing offers in this way can help customers find the most competitively priced offers available.

 

Please see the offset mortgage calculator below for more information on these offers: 

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

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker