first direct is advising homeowners that using savings to offset their mortgage could leave them better off than investing in an Isa.
Research from the lender shows that over the past 10 years, putting money into an offset product could have produced a better return than investing in the tax-free Isa, with the difference amounting [...]
Mortgage customers with two of the UK’s rescued banks are less than happy with the service they receive, according to new research from Which? Money.
The 41% state-owned Lloyds Banking Group has the furthest to go: only 41% of Bank of Scotland borrowers surveyed expressed satisfaction, while the group’s Halifax unit impressed 44% of home loan [...]
Online bank First Direct has launched a new one-year fixed-rate bond paying interest at 2.75%.
The bond is only available to First Direct customers, and can be opened with a deposit of between £2,000 and £49,999.
No deposits or withdrawals can be made once the bond is opened. Customers who need to withdraw money from the [...]
First direct has launched a market-leading offset tracker, which tracks at 2.08% above the Bank of England’s base rate, offering a current rate of 2.58%.
The lender, which is part of the HSBC group, claims the deal is the best of its kind on the market, for a maximum loan to value ratio of 65%.
It comes [...]
The benefits of offset mortgages remain a mystery to many, as first direct reveals that 40% of homeowners questioned don’t understand how they work and a further 35% only have a rough idea.
Concerned that borrowers are missing out, first direct is encouraging homeowners to get to grips with offsetting because in some cases the savings [...]
HSBC-owned first direct has launched a new offset tracker mortgage with an interest rate at 2.48% above the Bank of England’s base rate.
With the Bank of England’s base rate at 0.5%, this gives first direct’s mortgage a headline rate of 2.98%, or 3.2% APR.
Unlike any other tracker mortgage currently available, first direct’s product is capped [...]