Mortgages

Amend your existing online application

If you’ve recently applied for your first direct mortgage online and wish to make any amendments to your application, you’re able to change the following online:

  • loan amount
  • mortgage term
  • mortgage type (i.e. change from offset to repayment only)
  • interest rate (e.g. change from fixed, tracker or standard variable)

In order to make amendments, you’ll need to:

1. Use our ‘Find a mortgage for you’ tool to find the mortgage you would now wish to change to – remembering to select ‘Amending an existing application’ in the ‘I am..’ field.

2. Once you’ve selected the mortgage, you’ll then need to click on ‘Full details’, followed by ‘How to Apply’.

3. Then simply follow the on-screen instructions.

Please Note: You'll need to complete a new mortgage application if you want to make any other amendments to your online mortgage application or if your application was submitted over five months ago. If you do not wish to amend your interest rate, but cannot find the interest rate you originally applied for, please call us on 03 456 100 103.

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Important Notes

first direct Offset Mortgages are interest only mortgages. The monthly payments shown on the next screen will cover only the interest charged on your mortgage.

This payment does not cover an amount that you need to pay to a repayment strategy. You are responsible for making your own arrangements to repay your mortgage at the end of the mortgage term.

You must demonstrate that you have a suitable repayment strategy in place. You may choose to use an endowment policy or another investment or savings plan.

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Offset mortgages

Our Offset Mortgage is an interest only mortgage designed to help you get more from your money. You can link your qualifying savings and current account balances to your mortgage so you only pay interest on the difference.

For instance, if you have a mortgage of £100,000, savings of £20,000 and a current account with a credit balance of £1,000, you only pay interest on £79,000. And as you don’t actually earn interest on your savings, there’s no tax to pay on them.

Illustration of Offset mortgage example

Key features

  • an interest only mortgage means your monthly payments will only cover the interest charged on your mortgage. You are responsible for making your own arrangements to repay your mortgage at the end of the mortgage term. You need to demonstrate that you have an acceptable repayment strategy in place, for example, you may choose to use an endowment policy, another investment or savings plan
  • you can make unlimited overpayments per month, annually or in a lump sum whenever you choose, which can help you save money on interest charges. However, Early Repayment Charges may apply depending on the type of rate chosen and if you choose to fully repay your mortgage in the early years
  • you can borrow over a term of between 2 and 25 years
  • the minimum amount you can borrow with an Offset Mortgage is £30,000
  • if you repay any of the capital during the term, you can redraw this however, this will increase your interest payments and could increase the time it takes for you to pay off your mortgage. If you take advantage of your redraw facility, you must review your repayment plan to make sure you are still on track to repay any outstanding capital by the end of the mortgage term. Any borrowing linked to your Offset Mortgage will be secured against your property
  • you could pay less tax with an Offset Mortgage.

Things to bear in mind

  • sole applicants must have a minimum salary of £50,000. Joint applicants must either have a minimum combined salary of £75,000, or one party have an individual salary of £50,000 or more
  • we do not lend for business purposes or Buy to Let
  • an Early Repayment Charge may apply depending on the interest rate chosen if you choose to fully repay your mortgage early
  • the value of tax benefits will depend on individual circumstances and tax rules may change in the future.

Find a mortgage for you

Quickly search our wide range of mortgages to find those that may be available to you.

Find a mortgage

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

† Our Mortgage Team is available Mon to Fri 8am to 10pm, Sat 8am to 8pm and Sun 9am to 8pm