First Active, formerly Mortgage Trust, is launching its first product since its rebranding.
The lender is offering a 3-year, capped-rate current account mortgage at a rate of 6.99 per cent. It is available exclusively to IFAs and carries a £250 introducer's fee.
First Active says that the mortgage offers the lowest rate on the market for a combined bank account and mortgage. It is also free from redemption penalties and MIG fees.
First Active business development director Frank Eve says: "The broker market was key to our growth as Mortgage Trust and will remain equally important to us as First Active."
Irish parent company First National building society will change its name to First Active plc when it floats on the London and Irish stock markets in the next few months.