First Direct rolls out new tracker deals

First Direct has launched two base rate trackers available at up to 80% LTV.

The offset base rate tracker mortgage tracks base rate for the life of the loan and is available base rate plus 1.49%.

The mortgage has a £599 arrangement fee.

It is also offering a life tracker mortgage that is a capital repayment mortgage. It is priced at base rate plus 1.69% and has a £399 arrangement fee.

Matt Colebrook, chief executive of First Direct, says: “We’ve consistently been offering best buy mortgages in 2008 and these two new mortgages are no exception.

“We’re also passing on the full base rate cut of 1% from January 2 which makes our SVR the lowest in the industry moving from 4.69% to 3.69%.”