As a mortgage lender, First Direct has a reputation for being ahead and honest and making good offers for their loans. But what products do they offer? There are hundreds of different products in the private mortgage market, and consumers have the choice between dozens of different suppliers; What makes First Direct the first choice and why should consumers choose? First Direct`s first centre opened at midnight on October 1, 1989 and made 1,000 calls in the first 24 hours. Eighteen months later, First Direct registered its 100,000th customers, which is not an easy task for a company without physical sales spaces and personal customer intervention. Four years later, First Direct had reached half a million customers, chartering considerable profits; As a disruptive industry, they had proven that the “traditional” way of running a high-street bank was not working and that customers appreciated first direct on flexibility, customer service and ease of use. MoneySavingExpert.com is part of the MoneySuperMarket group, but it is completely independent from an editorial point of way. Their position of putting consumers first is protected and enshrined in the legally binding SSM drafting code. Well, first of all, First Direct makes a bold claim to their customers; They could be approved within a day for a mortgage. Not just an agreement in principle; an actual authorization for a loan, perhaps turned around the same day you talk to their mortgage advisors. Given the amount of checks to be carried out, you can see why First Direct stands out by offering such a service, but its realization that speed in domestic game can be essential pushes them to exceed expectations.
First Direct does not publish its credit limits and does not deal with mortgage brokers, so you need to discuss directly with the lender how much you can borrow in terms of annual salary. On-demand mortgages of trackers have an interest rate that corresponds directly to the bank of England`s basic interest rate and accurately reflects its fluctuations. When the basic interest rate rises, the interest rate on the mortgage also increases by the same amount. Mortgages of this type can benefit borrowers because they protect them from mortgage providers who want to increase their profit margins because they are unable to raise the interest rate beyond a certain level.