first direct has launched a new offset tracker mortgage that should take the market by storm.
Available at 65 per cent loan to value, the product is priced at 2.99%, only just above the lowest tracker deal currently available to direct borrowers.
A low fee of £99, an offset facility and no penalty being payable for early redemption all contribute to the product's attractiveness.
For remortgages, there is the added incentive of a £400 rebate for borrowers in Scotland and Northern Ireland or free legal fees for those in England and Wales.
Its competitive rate and appealing extras earn this product four out five Moneyfacts stars.
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