View more on these topics

First Direct rolls out new tracker deals

First Direct has launched two base rate trackers available at up to 80% LTV.

The offset base rate tracker mortgage tracks base rate for the life of the loan and is available base rate plus 1.49%.

The mortgage has a £599 arrangement fee.

It is also offering a life tracker mortgage that is a capital repayment mortgage. It is priced at base rate plus 1.69% and has a £399 arrangement fee.

Matt Colebrook, chief executive of First Direct, says: “We’ve consistently been offering best buy mortgages in 2008 and these two new mortgages are no exception.

“We’re also passing on the full base rate cut of 1% from January 2 which makes our SVR the lowest in the industry moving from 4.69% to 3.69%.”


AMI calls for 1% cut in interest rates

The Association of Mortgage Intermediaries is calling for a 1% cut in interest rates ahead of the Bank of England’s Monetary Policy Committee meeting this week in a bid to spur economic growth.

Lenders selfishly pick and choose what TCF means

TCF is a daily consideration for all brokers but I have an issue with how lenders seem to decide what constitutes meeting the initiative to suit their own ends, even if it disadvantages borrowers.


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


News and expert analysis straight to your inbox

Sign up