'Enjoy value for money' with first direct mortgages

Date:Friday 2nd July 2010
Author: Susanna Kavka

Customers taking on first direct mortgages could see their money go further, according to one source at the organisation.

Richard Tolchard, senior mortgage product manager at the firm, noted that money is "getting tighter" for consumers and it is important to receive good value deals.

He observed that the first direct mortgages' £99 booking fee makes switching to the company easy and affordable.

"We sometimes feel like David in a market full of Goliaths. Our Summer Sale mortgage offers are designed to take the value for money challenge to the big boys," remarked Mr Tolchard.

His comments were made after first direct mortgages revealed that it has cut the interest rates on five of its home finance products.

Earlier this year, the firm revealed that - on average - cash Isa savers would have been £3,306 better off by putting their money into a mortgage offset account over the past ten years.