First Direct’s lifetime tracker mortgages are proving popular with customers.
The organisation has witnessed a 40 per cent increase in calls regarding the products since application fees were reduced to £99, the Guardian reports.
Its lifetime tracker repayment loan has garnered much interest.
The deal is set at 1.79 per cent above base rate for the time it takes to be paid off for those needing to borrow 65 per cent loan-to-value (LTV).
It is set at 2.29 per cent higher than base rate for consumers on a 75 per cent LTV and 3.49 per cent above it for those with an 85 per cent LTV.
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