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First Active activates first mortgage product

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&#39s 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: &#34The broker market was key to our growth as Mortgage Trust and will remain equally important to us as First Active.&#34


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.

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