First Active

First Active was launched in June 2004. At first they only offered mortgages through intermediaries. Now, however, they've expanded and offer products over the phone and online as well.

First Active offer fixed and discount mortgages, with low rates up front and have very competitive lifetime rates after that.

Fixed: First Active gives you the option to choose from 2 and 5 year fixed rate mortgages

2 Year: your starting rate is fixed for this period. It then, for the rest of the mortgage term goes back to a variable rate, which is set according to the Bank of England base rate. An early repayment charge applies if you repay your mortgage during the fixed rate period.

• Interest is calculated daily
• An arrangement fee is applicable

5 Year: the starting rate on this mortgage will be slightly higher but that is because its fixed term is longer. After this period is over it will revert to a variable rate for the rest of the mortgage term. This is set according to the Bank of England base rate. An early repayment charge applies if you repay your mortgage during the fixed rate period.

• Interest is calculated daily
• An arrangement fee is applicable

Discount: First Active gives you the option to choose from 2 and 3 year discount rate mortgages.

2 Year: the discount is set off the Bank of England base rate for this period, and only changes if the Bank rate changes. After the discount period your rate will be set at a variable rate. An early repayment charge will apply if you repay your mortgage during the discount period.

• Interest is calculated daily
• An arrangement fee is applicable

If the Bank of England base rate changes your interest rate will change within 5 days. Fixed rates will not change though. Your interest rate won't change for any other reason.

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