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first direct cuts rates on two, five and ten year fixed rates

16 Feb 2017

first direct responds to customer demand for longer-term fixed rates

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

The revised mortgage range, which is available from today (16 February 2017), includes:

  • 60% LTV Ten Year Fixed – 2.49% fee saver* (reduced by 0.50%)
  • 75% LTV Ten Year Fixed – 2.64% fee saver* (reduced by 0.45%)
  • 80% LTV Ten Year Fixed – 2.89% fee saver* (reduced by 0.30%)
  • 60% LTV Five Year Fixed – 1.79% with £1450 fee (reduced by 0.05%)
  • 75% LTV Five Year Fixed – 1.99% with £1450 fee (reduced by 0.05%)

 

  • 60% LTV Five Year Fixed – 1.94% fee saver* (reduced by 0.25%)
  • 75% LTV Five Year Fixed – 2.19% fee saver* (reduced by 0.15%)
  • 80% LTV Five Year Fixed – 2.34% fee saver* (reduced by 0.20%)
  • 90% LTV Five Year Fixed – 2.89% fee saver* (reduced by 0.30%)

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

  • 80% LTV Two Year Fixed – 1.34% with £1450 fee (reduced by 0.05%)
  • 80% LTV Two Year Fixed – 1.84% fee saver* (reduced by 0.05%)
  • 85% LTV Two Year Fixed – 1.94% fee saver* (reduced by 0.05%)
  • 90% LTV Two Year Fixed – 2.44% fee saver* (reduced by 0.05%)

Nick Harrison, Head of Products at first direct , said: “With rates at an all-time low and an uncertain economic environment ahead we’re seeing increased customer demand for long term fixed rates. In response we’re launching ‎a new market leading ten year fixed rate mortgage, but we’re also taking the opportunity to make our two and five year fixed mortgage products more competitive too.”

- Ends -

 

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