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Loans Latest News first direct launches new cheap mortgage
Loans Latest News first direct launches new cheap mortgage first direct launches new cheap mortgage
first direct has launched a new mortgage, boasting the lowest variable rate on offer from any bank or building society.
The product has a discounted variable rate of 2.99 per cent until May 1st 2006, at which point the standard variable rate (SVR) will rise to 5.5 per cent.
Richard Kimber, first direct?s chief executive, believes the new mortgage will be a big hit with consumers.
He commented: "This mortgage is a win-win for homeowners. First, the lowest rate since Elvis was in short trousers, thanks to our new discount.
"Then, a low standard variable rate that anyone paying Halifax?s painfully high [6.5 per cent] SVR would cry for. If you?re looking for a mortgage discount, here?s one that doesn?t come with a nasty sting in the tail."
Borrowers choosing this mortgage will also benefit from unlimited overpayments and a tool through which they can lower their interest costs.
For more information on Mortgages for First Time Buyers click here
The product has a discounted variable rate of 2.99 per cent until May 1st 2006, at which point the standard variable rate (SVR) will rise to 5.5 per cent.
Richard Kimber, first direct?s chief executive, believes the new mortgage will be a big hit with consumers.
He commented: "This mortgage is a win-win for homeowners. First, the lowest rate since Elvis was in short trousers, thanks to our new discount.
"Then, a low standard variable rate that anyone paying Halifax?s painfully high [6.5 per cent] SVR would cry for. If you?re looking for a mortgage discount, here?s one that doesn?t come with a nasty sting in the tail."
Borrowers choosing this mortgage will also benefit from unlimited overpayments and a tool through which they can lower their interest costs.
For more information on Mortgages for First Time Buyers click here
Tuesday, 06 September 2005 10:56
Top 5 Personal Loans
|
Loan |
Representative APR |
Min Loan |
Max Loan |
Min Term |
Max Term |
Apply |
|---|---|---|---|---|---|---|
| View Full Table > | ||||||
 |
6.8%
|
£7,500
|
£14,999
|
1 Year
|
5 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.8% (fixed) equals monthly repayments of £148 and a total amount repayable of £8,868. There are no other charges included in the total charge for credit. | ||||||
 |
8.2%
|
£5,000
|
£7,499
|
1 Year
|
7 Years
|
|
| Representative Example: £5000 borrowed over a period of 5 years at 8.2% (fixed) equals monthly repayments of £102 and a total amount repayable of £6,112. There are no other charges included in the total charge for credit. | ||||||
 |
6.1%
|
£7,500
|
£14,999
|
1 Year
|
10 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
|
|
8.1%
|
£15,001
|
£25,000
|
1 Year
|
7 Years
|
|
| Representative Example: £15001 borrowed over a period of 5 years at 8.1% (fixed) equals monthly repayments of £305 and a total amount repayable of £18,293. There are no other charges included in the total charge for credit. | ||||||
|
|
6.1%
|
£7,500
|
£15,000
|
1 Year
|
7 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
