First Direct cuts rates by up to 0.51%

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First Direct has cut rates across its mortgage range by up to 0.51 per cent.

The revised mortgage range is available from today and includes:

  • 60 per cent LTV Two Year Fixed – 1.24  per cent with £1,450 fee (reduced by 0.04  per cent)
  • 60 per cent LTV Two Year Fixed – 1.74  per cent fee saver (reduced by 0.15  per cent)
  • 75 per cent LTV Two Year Fixed – 1.29  per cent with £1,450 fee (reduced by 0.10  per cent)
  • 75 per cent LTV Two Year Fixed – 1.89  per cent fee saver (reduced by 0.10  per cent)
  • 80 per cent LTV Two Year Fixed – 1.48  per cent with £1,450 fee (reduced by 0.09  per cent)
  • 80 per cent LTV Two Year Fixed – 1.95  per cent fee saver (reduced by 0.24  per cent)
  • 60 per cent LTV Two Year Fixed (Offset) – 1.44  per cent with £1,450 fee
  • 60 per cent LTV Two Year Fixed (Offset) – 1.99  per cent fee saver (reduced by 0.50  per cent)
  • 75 per cent LTV Two Year Fixed (Offset) – 1.49  per cent with £1,450 fee
  • 75 per cent LTV Two Year Fixed (Offset) – 2.09  per cent fee saver (reduced by 0.50  per cent)

For borrowers looking to fix rates over a longer period, first direct has also cut a number of five-year fixed rates, including:

  • 60 per cent LTV Five Year Fixed – 1.99  per cent with £1,450 fee (reduced by 0.15  per cent)
  • 60 per cent LTV Five Year Fixed – 2.08  per cent fee saver (reduced by 0.41  per cent)
  • 75 per cent LTV Five Year Fixed – 2.09  per cent with £1,450 fee (reduced by 0.25  per cent)
  • 75 per cent LTV Five Year Fixed – 2.18  per cent fee saver (reduced by 0.51  per cent)
  • 80 per cent LTV Five Year Fixed – 2.29  per cent with £1,450 fee (reduced by 0.18  per cent)
  • 80 per cent LTV Five Year Fixed – 2.38  per cent fee saver (reduced by 0.51  per cent)

First Direct chief executive Tracy Garrad says: “first direct continues to offer an outstanding range of mortgages with a wide choice of competitive products to suit different needs. For those looking for certainty of repayments we’ve cut the rates on our range of two and five year fixed rate mortgages – with and without fees.”