Tag: First Direct

Offset mortgages outdo Isa returns

Offset mortgages outdo Isa returns

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 [...]

May 6, 2010 | 0 Comments More
Rescued lenders fail to impress mortgage borrowers

Rescued lenders fail to impress mortgage borrowers

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 [...]

April 28, 2010 | 0 Comments More
First Direct announces 2.75% one-year bond

First Direct announces 2.75% one-year bond

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 [...]

February 10, 2010 | 0 Comments More
first direct launches 2.58% offset tracker

first direct launches 2.58% offset tracker

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%. [...]

December 6, 2009 | 0 Comments More
Britons fail to understand the offset mortgage

Britons fail to understand the offset mortgage

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 [...]

November 24, 2009 | 0 Comments More
Capped tracker mortgage from first direct

Capped tracker mortgage from first direct

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 [...]

July 3, 2009 | 0 Comments More
Rates on top ISAs crumble

Rates on top ISAs crumble

Many top-paying ISA providers this week slashed the interest rates offered on their tax-free savings accounts. Price comparison site Moneynet said some providers have already reached their targets for ISA deposits during 2009-10, and have cut rates to keep away new customers. Some ISA providers have completely withdrawn accounts from potential new customers, Moneynet said, [...]

June 5, 2009 | 0 Comments More
Britons stack up £20.2bn to invest in the housing market

Britons stack up £20.2bn to invest in the housing market

First Direct has published research suggesting that around four million Britons are sitting on cash they want to invest in the housing market, when the time is right. According to the mortgage lender, homeowners in the UK are holding onto an estimated £20.2 billion that could revitalise the market once prices have bottomed out. However, [...]

April 17, 2009 | 0 Comments More
New mortgage deals from First Direct and Nationwide

New mortgage deals from First Direct and Nationwide

First Direct has launched a new two-year fixed-rate offset mortgage with a rate of 2.99%. The loan reverts to the bank’s standard variable rate (currently 3.69%) at the end of the fixed period and the deal is available to new and existing customers either for house purchases or re-mortgages. The maximum loan-to-value ratio (LTV) is [...]

March 2, 2009 | 0 Comments More
HSBC to up mortgage lending by 20%

HSBC to up mortgage lending by 20%

HSBC is proposing to increase its mortgage lending by 20% in 2009, making up to £15 billion available to UK homebuyers and remortgagers, in total. The bank, which also provides home loans via its online brand, First Direct, has been less affected by the credit crisis than some of its High Street rivals because of [...]

December 8, 2008 | 0 Comments More
First Direct launches offset base rate tracker

First Direct launches offset base rate tracker

First Direct, part of the HSBC group, has launched a fee-free offset base rate tracker mortgage. Interest remains at 0.99% above base rate for the term of the mortgage (currently 5.99%) and the lender promises an immediate rate change, following a Bank of England announcement. The loan is only available to remortgagers and is linked [...]

August 19, 2008 | 0 Comments More
Three leading lenders raise interest rates

Three leading lenders raise interest rates

Three leading lenders have announced yet another round of interest rate rises. Bradford & Bingley (B&B), First Direct and the Co-operative Bank have all increased the cost of their fixed-rate loans, as the rates at which lenders borrow on the money markets continue to rise. B&B has hiked rates on its residential fixed-rate mortgages by [...]

June 26, 2008 | 0 Comments More
First Direct re-opens to new mortgage business

First Direct re-opens to new mortgage business

HSBC subsidiary, First Direct, has re-opened to new business after closing its doors to new customers on the 1st April because it could not keep up with demand for its mortgages. At the time, the lender reported that business volumes had increased 500% and that it would be focusing on the needs of its existing [...]

May 20, 2008 | 0 Comments More