First Direct Tracker rates change

mstopham

jayremoh wrote: »

sorry this is a little off topic?

can the FD offset mortgage be intrest only and if not whats the longest term?

i tried searching and recall seeing something a while back but cant find it now.

thanks

The application form quotes the interest only amount. You then have a choice to make it a repayment mortgage or part repayment. The form then asks how you intend to pay the capital off if not through repayment method.
It does seem very very flexible with drawback etc.

daley_lama

Further positive feedback from me.

I applied for a FD mortage in August, Off set Tracker 0.79 + BOE, no arrangement fee. This only finally went through on 13/1/9, due to lost paperwork here, delays there, errors on both sides.

From very early on in the process the BOE rate was dropping like a stone, the available mortgages were spiralling upwards and throughout I was concerned that the original offer would somehow be withdrawn.

But they didn't, and furthermore their customer service is second to none in my opinion.

little_miss_messiah

Claremac wrote: »

Yes, the FD offset mortgage can be interest only. If you go on to their website you can see there is a mortgage calculator on the left hand side which may help.

Further - as I recall as ex FD staff - I think the mortgage CAN last until 'normal retirement age' - 65yrs

nyck

little_miss_messiah wrote: »

Further - as I recall as ex FD staff - I think the mortgage CAN last until 'normal retirement age' - 65yrs

Thats what it said in my application, it has to paid off by your 65 birthday ,if it a joint who evers 65 first.As long as you pay the interest you can you pay none or as much capital as you like.I got the BOE +1.49% i'm just gutted i missed out on the .49% and .99%

nyck

Claremac

I can't believe it but I got a text today from FD to say that they are offering me a mortgage. It's less than a week since I sent off the form! I'm really impressed so far. About to use their Easy Switch method of transferring all my direct debits etc so I'll see what they make of that!!!!!!