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first direct cuts rates on two and five year fixed rates

04 Oct 2016

first direct enhances its award winning product range with further rate cuts

first direct has cut rates across selected two and five year fixed rate mortgages, giving homebuyers a wider choice of mortgage products to suit different financial needs.

The revised mortgage range, which is available from today (4 October 2016), includes:

  • 60% LTV Two Year Fixed – 1.18% with £1450 fee (reduced by 0.06%)
  • 60% LTV Two Year Fixed – 1.64% fee saver* (reduced by 0.10%)
  • 75% LTV Two Year Fixed – 1.74% fee saver* (reduced by 0.15%)

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

  • 60% LTV 5 Year Fixed – 1.84% with £1450 fee (reduced by 0.15%)
  • 80% LTV 5 Year Fixed – 2.14% with £1450 fee (reduced by 0.15%)

Tracy Garrad, CEO of first direct commented: “We’ve cut the rates on selected two and five years fixed rate mortgages to ensure we continue to offer outstanding customer value across our award-winning range of mortgage products.”

The first direct mortgage team is available 8am to 10pm, 7 days a week.

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first direct launched two new market leading Base Rate tracker mortgages available from Friday¬†5¬†December¬†2008. The offset Base Rate tracker mortgage tracks the Bank of England Base Rate for the life of the loan. It is priced at 1.49% above Base Rate and is currently 3.49% (APR 3.6%).


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According to recent research* carried out on behalf of first direct, mortgage holders who have come to the end of their current mortgage deal and are 'free to leave'** appear more sensitive to a rise in their monthly payments than a rise in the Bank of England Base Rate.


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