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First Direct launches limited edition mortgage range

First Direct has launched a range of limited edition mortgages as part of a number of changes to the structure of its mortgage offering.

The lender has organised its products into three ranges: standard, fee free and limited edition.

The standard range has one standard booking and/or arrangement fee and is available at 65% and 75% LTV, while the fee free range has no arrangement, booking or standard valuation fee, but slightly higher rates.

And the limited edition range will not be available all the time and will be created to address what customers are looking for at a certain time, such as a leading rate or higher LTV.

Richard Tolchard, senior mortgage product manager at First Direct, says the changes are designed to make it easier for customers to decide which mortgage is best for them.

He says: “We’ve organised our range to give customers the flexibility to choose between rate, fee and LTV depending on their personal circumstances. 

“The limited edition mortgages allow us the freedom to judge market conditions and offer, for example, market leading rates to those with a lower deposit, whilst the fee-free versions cater for those who want to avoid up-front fees.”

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  • John O'Hearne 17th June 2011 at 11:35 am

    Richard Tolchard has said ‘the changes are designed to make it easier for customers to decide which mortgage is best for them’. Is that how First Direct are going to get round having non qualified or experienced advisers selling thier mortgage products?

  • Mike Galvin 17th June 2011 at 11:31 am

    so they have decided to launch a new range that easier for customers to understand !!!! so it therefore must be true that its previous offerings where not easy for customers to understand and thereby could be open to claims of being miss sold