News Tag: First Direct
February 10, 2010
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 bond will have to close the ...
First Direct announces 2.75% one-year bond
by David Masters
December 6, 2009
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 with an arrangement fee ...
first direct launches 2.58% offset tracker
by Gill Montia
November 24, 2009
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 that can be made are ...
Britons fail to understand the offset mortgage
by Gill Montia
July 3, 2009
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 at 4.99% until 2012.
The mortgage is ...
Capped tracker mortgage from first direct
by David Masters
June 5, 2009
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Some ISA providers have completely withdrawn accounts from potential new customers, Moneynet said, with both Halifax and First Direct withdrawing their ISA ...
Rates on top ISAs crumble
by David Masters
April 17, 2009
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, 12% of respondents to ...
Britons stack up £20.2bn to invest in the housing market
by Gill Montia
March 2, 2009
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 75% and a booking fee of ...
New mortgage deals from First Direct and Nationwide
by Gill Montia
December 8, 2008
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 its focus on emerging markets.
It now ...
HSBC to up mortgage lending by 20%
by Gill Montia
August 19, 2008
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 to a borrower's savings and current account ...
First Direct launches offset base rate tracker
by Gill Montia
June 26, 2008
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 between 0.5% and 0.7%.
Meanwhile, its lifetime variable mortgage ...
Three leading lenders raise interest rates
by Gill Montia
May 20, 2008
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 customers until a backlog had been ...
First Direct re-opens to new mortgage business
by Gill Montia
