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First Direct cuts fixes by up to 0.30%


First Direct has cut rates by up to 0.30 per cent across its two-and five-year fixed rate mortgage range.

The lender’s two-year fixed range includes the following products:

  • 60 per cent LTV – cut by 0.10 per cent to 1.89 per cent fee saver
  • 75 per cent LTV – cut by 0.10 per cent to 1.99 per cent
  • 90 per cent LTV – cut by 0.10 per cent to 2.79 per cent

All the two-year fixes above are ‘fee savers’ with no booking fee, no arrangement fee and no standard valuation fee.

Additionally, First Direct will cover the cost of one standard valuation where the lender requires it for the mortgage application. Other fees and charges may apply.

First Direct’s five-year fixed rate range has seen the following cuts:

  • 60 per cent LTV – cut by 0.10 per cent to 2.14 per cent with £1450 fee
  • 60 per cent LTV fee saver cut by 0.10 per cent to 2.69 per cent
  • 85 per cent LTV – cut by 0.16 per cent to 2.63 per cent with £1450 fee
  • 90 per cent LTV fee saver – cut by 0.30 per cent to 3.29 per cent

First Direct chief executive Tracy Garrad says: “We try to be responsive to the needs of borrowers and have cut rates and widened our range of two and five years fixed rate mortgages – with and without fees – which can offer more certainty in uncertain times.”

The fee cuts took place today.



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