Looking to remortgage?

First Direct is trying to lure remortgagers by offering free switching incentives until January 31.

The transfer deal gives remortgagers free legal fees and a free standard valuation, and if their current lender has an enquiry fee, First Direct will pay it.

The deal includes a two-year fix at 3.39%, a five-year fix at 4.29% and a lifetime offset tracker at 2.99% for those borrowing 75% of a home's value.

Borrowers will have to pay First Direct's mortgage arrangement fees, but at £99 these are very reasonable in comparison to other lenders’ fees.

With interest rates set to rise, the deal may well be worth a look. The five-year fix and offset lifetime tracker sound particularly impressive. The latter has no early repayment charges.

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