The offer is available for applications made before 12 July and completed by 30 September 2006.

The mortgage offers a rate of 5.50 per cent. Customers can overpay, underpay, subject to covering monthly interest, and withdraw funds when required.

Chris Pilling, first direct’s chief executive, said: “Our offset mortgage remains a firm favourite with our customers. It has been designed to be flexible and revolve around the customer’s needs giving them the opportunity to choose the bits that suit them best.

“With a saving of nearly six hundred pounds on their mortgage, the offer looks better than ever.”

For further information visit their website.