First direct has reduced the rates on all of its standard and fee free mortgage range.
The changes include cutting rates on all five-year fixed rate repayment mortgages by 0.50 percentage points and reducing rates on some Limited Edition mortgages.
New rates include:
- 90% LTV 4.29% two-year fixed rate repayment Limited Edition – £999 fee
- 65% LTV 3.19% two-year tracker offset – £499 fee
- 65% LTV 2.64% two-year Fixed rate repayment Limited Edition – £,1999 fee
- 65% LTV 2.79% tracker repayment Limited Edition – £999 fee
| Repayment five-year fixed rates | Max LTV | Offer rate | APR | Arrangement fee | Booking fee |
| Standard | 65% | 3.79% | 3.8% | £0 | £499 |
| Fee Free | 65% | 4.09% | 3.9% | £0 | £0 |
| Standard | 75% | 3.99% | 3.9% | £0 | £499 |
| Fee Free | 75% | 4.29% | 4.0% | £0 | £0 |
| Limited Edition Fee Free | 90% | 4.99% | 4.3% | £0 | £0 |
Ian Bartholomew, senior mortgage product manager at first direct, said: “First direct is renowned for providing market-leading customer service and we’re happy to help borrowers looking for a better deal by cutting our mortgage rates at a time when other household bills are rising.”