First direct has launched a new offset tracker mortgage, priced at Bank of England base rate plus 1.89% (currently 2.39%).
The deal is up to 65% loan to value and has an arrangement fee of £999.
Jimmy Kelly, head of mortgages at first direct, said: "It’s great to be able to offer another best buy mortgage rate. Not only do we have a fantastic rate, but customers also have the benefit of the offset facility. It’s a great opportunity for customers to either reduce their monthly outgoings or the term of their mortgage.
"Although the economy finally stopped shrinking in the last quarter, we know that people still feel it’s important to be able to reduce their debt more quickly."
