First Direct mortgages calculator, rates & review

What types of mortgages can I get with First Direct?

• Fixed rate With this mortgage type, your interest remain locked for a set amount of time, providing certainty about the size of your mortgage repayments.
• Remortgages You can switch your existing mortgage to First Direct via one of its remortgage products.
• Offset This mortgage type allows you use a First Direct savings account to offset the amount of your mortgage balance you pay interest on.
• Tracker With this type of mortgage, your interest rate will shift up and down in line with the Bank of England base rate.
• Variable rate With this mortgage type, your interest rate will shit up and down based on various economic conditions.
• Buy to let This type of mortgage is needed if you want to borrow money to purchase an additional property and let it out.
• Shared ownership This mortgage type allows you to percentage of a property and pay rent on the remainder. When you can afford it, you can then apply to buy additional percentages of the property.

How to apply

You can apply online at firstdirect.com or by calling 0800 48 24 48.

What information is needed to apply?

You’ll need to show evidence of your employment history and proof of income by providing payslips, a recent P60, three months of recent bank accounts, your pension statement etc. Self-employed applicants will need to provie at least two years worth of accounts.

Eligibility criteria

First Direct lends all over the UK. There is no minimum salary requirement, but all applicants will have to go through affordability assessments and a credit check.

Contact information

Existing customers can make mortgage queries by calling 03456 100 103 or emailing 24hours@firstdirect.com.

First Direct customer reviews

On customer review platform Trustpilot, First Direct as a bank has 4.4 out of 5 stars and a rating of Poor, based on more than 22,000 reviews.

It’s a much better story on Smart Money People, where First Direct has 4.68 out of 5 stars, based on more than 1,400 reviews.

Some customers praise the customer service on offer and the ease of use of the bank’s app. However, others complain about slow service and lack of empathy for people’s situations (updated April 2024).

Frequently asked questions

• Do First Direct do interest-only mortgages?

  Yes, among the range of mortgages offered by first direct are interest only offset mortgages. This type of mortgage allows you to link your current and savings accounts to your mortgage – you’ll only pay interest on the difference between them. So, as an example, if your mortgage is £175,000 and your savings stand at £35,000, the amount that you’ll pay interest on would be £140,000.

• Can I switch an existing mortgage to First Direct?

  Yes, you can. To do so, you can either apply online or by phone. Applying online simply consists of providing first direct with a few details and then waiting for them to call you back. If you apply by phone, you’ll be able to get an agreement in principle immediately. Either way, once you’ve completed the preliminary stage of your application you’ll be contacted by first direct to arrange a mortgage appointment.

• Can I increase the amount that I borrow from First Direct?

  Yes. Doing this is a similar process to switching or applying to open a new mortgage with first direct. To start the ball rolling, call first direct to go through your eligibility and affordability. You’ll then probably receive an agreement in principle over the phone, after which a mortgage appointment can be arranged and your application taken further.

• How long is a mortgage offer from First Direct valid for?

  Generally speaking, the validity of a mortgage offer varies from lender to lender but is usually valid for around three to six months. An offer from first direct, then, is likely to fall somewhere in this bracket. Exactly how long it’s valid for may vary, so it’s best to check with first direct yourself.

• Can I make overpayments?

  Yes, although early repayment charges may apply.

• How long does it take to hear a decision?

  You can expect to hear a decision on your mortgage in principle application on the same day you apply.

• Is there a minimum loan amount?

  Yes, £10,000 or £30,000 for an offset mortgage.