First Direct is reducing all fixed rate mortgages in its range as well as launching a 65% LTV five-year fixed rate at 2.89% and a two-year offset tracker at 1.69% – both with a £1,450 fee.
New lower priced products include the following:
- 90% LTV 2 year fixed – 3.59% with £950 fee
- 90% LTV Fee Saver 2 year fixed – 3.89%
- 90% LTV 5 year fixed – 4.29% with £950 fee
- 90% LTV Fee Saver 5 year fixed – 4.59%
- 90% LTV Lifetime tracker – 4.29% with £950 fee
- 90% LTV Fee Saver Lifetime tracker – 4.49%
Andy Forbes, head of products at First Direct, said: “In order to provide the best deal for all our customers, whether they have a large or small deposit, we’ve refreshed our mortgage range and reduced rates to ensure everyone can have access to some of the most keenly priced products in the market.”
Andrew Hagger of moneycomms.co.uk, said: “It’s refreshing to see that first direct is offering competitive mortgage deals at both ends of the LTV spectrum.
“Too often those not fortunate enough to have the luxury of a 20% plus deposit are overlooked and have to search hard to find a sensibly priced home loan.
“With rate rises still a possibility from 2015 the 5 year fix at 2.89% is likely to prove very popular with home movers. “