first direct to resume mortgages to non customers

first direct has resumed selling mortgages to non customers. The online and telephone bank temporarily stopped offering mortgages to new customers on April 1st after receiving five times its normal number of applications. However, it has now cleared the backlog of application approvals from April 1st and earlier.

Effective immediately, it is offering the following offset mortgages to new and existing customers: 2 year fixed rate at 5.76% (6.3% APR); £499 booking fee and £1,499 arrangement fee; 2 year fixed rate at 5.99% (6.2% APR); £99 booking fee and £399 arrangement fee; 5 year fixed rate at 5.98% (6.2% APR); £299 booking fee and £299 arrangement fee and 10 year fixed rate at 5.99% (6.2% APR); £299 booking fee and £299 arrangement fee

All these mortgages revert to the bank's standard variable rate, currently 6.00%, at the end of the fixed term.

Maximum loan size for these offers is £400,000. Maximum loan to value (LTV) remains at 80%.

20 May 2008 © Moneyextra.com

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