From 4th April 2005, the enhanced range will include a new one-year discount to replace the existing six-month discount offer. Also, the discount itself will improve from 1.25 per cent to 1.30 per cent meaning customers will benefit from rates starting from just 5.34 per cent.
Duncan Berry, first mortgage leader, First National and igroup said: "We constantly look at ways to improve our product offering to meet the needs of the market. As requirements change, so will our products. By making these improvements to our discount range, we have responded quickly to demand from both intermediaries and consumers for good value discount products.
"Much as initially discounted rates are popular at the moment, long term value is still crucial. First National was declared one of the top lenders in the broker-only category of the What Mortgage Lender of the Year Awards 2004 and 2005, and is recognised for offering good long term value after the discounted period."