First direct cuts mortgage rates |

First direct has cut the rates on 11 of its offset and repayment mortgages by up to 0.2 percentage points.

Borrowers with 25-35% deposit or equity are able to take advantage of these lower rates, which are offered with and without fees.

In addition, the internet and telephone bank also offers a fee free option across its mortgage range.

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first direct repayment mortgages with rate reductions

2 Year Fixed, 65% LTV, 1.69%, £1,999 fee – reduced from 1.89%
2 Year Fixed, 65% LTV, 2.19%, £499 fee – reduced from 2.29%
2 Year Fixed, 65% LTV, 2.39%, £99 fee – reduced from 2.49%
2 Year Fixed, 65% LTV, 2.49%, fee free – reduced from 2.59%
2 Year Fixed, 75% LTV, 2.49%, £499 fee – reduced from 2.59%
2 Year Fixed, 75% LTV, 2.79%, fee free – reduced from 2.89%

first direct offset mortgages with rate reductions

2 year Tracker, 65% LTV, 2.35%, £1,999 fee – reduced from 2.49%
2 Year Fixed, 65% LTV, 2.69%, £499 fee – reduced from 2.79%
2 Year Fixed, 65% LTV, 2.99%, fee free – reduced from 3.09%
2 Year Fixed, 75% LTV, 2.99%, £499 fee – reduced from 3.09%
2 Year Fixed, 75% LTV, 3.29%, fee free – reduced from 3.39%

Andy Forbes, head of retail products at first direct, said: “We want to make it easy for customers to get a great mortgage deal, removing the barrier of paying a fee.

“So now, whether you have a high or low LTV, want a tracker or fixed rate, offset or repayment, there is a first direct fee free mortgage with a great rate that fits.”