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First Direct cuts rates on repayment deals

First Direct is cutting the rates on some of its five-year fixed rate deals available on a repayment basis.

The lender, which is part of HSBC, is cutting its five-year fixed rate deal at up to 65% LTV from 4.54% to 4.29%. The product comes with a £499 arrangement fee and £499 booking fee.

First Direct is also cutting its two five-year fixed rate deals at up to 75% LTV by 0.3%.

The rates available are a 4.69% deal with an arrangement fee of £249 and a £249 booking fee, and a rate at 4.99% with no arrangement fee and a £99 booking fee.

Richard Tolchard, senior mortgage product manager at First Direct, says: “We’re pleased to be able to help home owners fix their payments until after the next general election by further reducing our 65% LTV.”

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