First Active has introduced a new six-month discount variable rate for new home loan customers. On a typical £100,000 mortgage, this new discounted rate of 4.88 per cent equates to a £56.16 monthly reduction in repayments compared to the standard variable rate. The product aims to meet the needs of homebuyers with a preference for short-term cash-flow advantage in the early stages of furnishing a new home while allowing them the opportunity to transfer without penalty into a fixed-term option.