First Direct mortgages have always been a great option for customers using the banks telephone and Internet service. The company has been in operation since 1989, and has pioneered the use of new technology in the banking sector, which is helped by being part of one of the world's biggest banks, HSBC.
When the bank first opened its doors in 1989, they offered their customers the most popular banking products like savings and current accounts. Since then, they have also given their customers new-product and new ways to access the service via the telephone and Internet.
These days the bank offers two different types of mortgages which both have competitive rates of interest. The bank makes applying for these products very easy, and tries to approve applications as quickly as possible.
The most popular mortgage today is the repayment home loan. This loan has a minimum borrowing of 10,000 pounds and must be repaid between 2 and 40 years. The good thing with this particular loan is that it will always be repaid in full by making payments each month covering parts of the capital and the interest. If a customer finds they have some spare cash available, they can always make extra repayments to lower the cost of the overall borrowing.
The second loan available is the offset mortgage which has a minimum borrowing of 30,000 pounds and must be repaid within 25 years. This is an interest only loan which means you must have the means to repay the complete mortgage when it is due. Accepted means of repayment can be savings or investment plans, or an endowment policy that is due to mature before the end of the mortgage.
First Direct mortgages is a convenient way for the banks own customers to get a competitive home loan, together with the customer service that this bank has become famous for.
When the bank first opened its doors in 1989, they offered their customers the most popular banking products like savings and current accounts. Since then, they have also given their customers new-product and new ways to access the service via the telephone and Internet.
These days the bank offers two different types of mortgages which both have competitive rates of interest. The bank makes applying for these products very easy, and tries to approve applications as quickly as possible.
The most popular mortgage today is the repayment home loan. This loan has a minimum borrowing of 10,000 pounds and must be repaid between 2 and 40 years. The good thing with this particular loan is that it will always be repaid in full by making payments each month covering parts of the capital and the interest. If a customer finds they have some spare cash available, they can always make extra repayments to lower the cost of the overall borrowing.
The second loan available is the offset mortgage which has a minimum borrowing of 30,000 pounds and must be repaid within 25 years. This is an interest only loan which means you must have the means to repay the complete mortgage when it is due. Accepted means of repayment can be savings or investment plans, or an endowment policy that is due to mature before the end of the mortgage.
First Direct mortgages is a convenient way for the banks own customers to get a competitive home loan, together with the customer service that this bank has become famous for.
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