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first direct cuts mortgage rates

28 Oct 2011

first direct has cut rates on over a third* of its mortgage product range, including reducing the rate on its 85% LTV 5 year Fixed rate Limited Edition Fee Free Repayment mortgage by a full 0.5% to 4.49%.  As a result at least 3 can be found in the best buy tables this weekend**:

  • 65% LTV 2 year Limited Edition Offset Tracker - 1.58% + BR (£1499 arrangement fee)
  • 85% LTV 2 year Limited Edition Fee Free Repayment Tracker - 2.99% + BR
  • 65% LTV 5 year Limited Edition Fixed Rate Repayment mortgage - 3.49% (£1499 booking fee)

Richard Tolchard, Senior Mortgage Product Manager at first direct commented:

"first direct has always been known for great customer service and we're happy to help homeowners looking for a better deal by reducing the cost of some of our mortgages at a time when other household bills are rising."

For further information please contact Rebecca Hirst on 01132766899 or rebecca.hirst@firstdirect.com  and Amanda Brown on 01132766700 or amanda.brown@firstdirect.com

>ends<

Notes to Editors

*Of the 52 mortgage products first direct offers it has improved the rate of 20 i.e. 38.5%.

first direct 's complete mortgage range

Offset Rates

Offset Fixed Rates

Max LTV 

Offer rate 

APR  

Arr fee

Booking fee

Equivalent savings rates

Non tax AER

Basic tax AER

High tax AER

2 year Fixed rate Standard

65%

3.19%

3.7%

£0

£499

3.24%

4.06%

5.45%

2 year Fixed rate Fee free

65%

3.49%

3.7%

£0

£0

3.55%

4.45%

5.97%

2 year Fixed rate Standard

75%

3.39%

3.8%

£0

£499

3.44%

4.32%

5.80%

2 year Fixed rate Fee free

75%

3.69%

3.8%

£0

£0

3.75%

4.71%

6.33%

3 year Fixed rate Standard

65%

3.49%

3.8%

£0

£499

3.55%

4.45%

5.97%

3 year Fixed rate Fee Free

65%

3.79%

3.8%

£0

£0

3.86%

4.84%

6.50%

3 year Fixed rate Standard

75%

3.69%

3.8%

£0

£499

3.75%

4.71%

6.33%

3 year Fixed rate Fee Free

75%

3.99%

3.8%

£0

£0

4.06%

5.10%

6.86%

 

Offset Tracker Rates

Max LTV 

Offer rate 

% abv BR

APR

Arrangement / Booking fee

Equivalent savings rates

Non tax AER

Basic tax AER

High tax AER

Base Rate Tracker Standard

65%

2.99%

2.49%

3.1%

£499

3.03%

3.80%

5.10%

Base Rate Tracker Fee Free

65%

3.29%

2.79%

3.3%

£0

3.34%

4.19%

5.62%

Base Rate Tracker Limited Edition

65%

2.38%

1.88%

2.5%

£1,499

2.41%

3.02%

4.04%

Base Rate Tracker Standard

75%

3.19%

2.69%

3.3%

£499

3.24%

4.06%

5.45%

Base Rate Tracker Fee Free

75%

3.49%

2.99%

3.5%

£0

3.55%

4.45%

5.97%

2 year Tracker Standard

65%

2.69%

2.19%

3.7%

£499

2.72%

3.41%

4.58%

2 year Tracker Fee Free

65%

2.99%

2.49%

3.7%

£0

3.03%

3.80%

5.10%

2 year Tracker Limited Edition**

65%

2.08%

1.58%

3.7%

£1,499

2.10%

2.63%

3.52%

2 year Tracker Standard

75%

2.89%

2.39%

3.7%

£499

2.93%

3.67%

4.92%

2 year Tracker Fee Free

75%

3.19%

2.69%

3.7%

£0

3.24%

4.06%

5.45%

3 yr Capped Tracker Limited Edition

65%

2.78%

2.28%

3.6%

£499

2.82%

3.53%

4.73%

3 yr Capped Tracker Limited Edition

75%

3.18%

2.68%

3.7%

£499

3.23%

4.05%

5.43%

3 yr Capped Tracker Fee Free Limited Edition

65%

3.18%

2.68%

3.7%

£0

3.23%

4.05%

5.43%

3 yr Capped Tracker Fee Free Limited Edition

75%

3.58%

3.08%

3.7%

£0

3.64%

4.57%

6.13%

 

Repayment Rates

 

Fixed Repayment Mortgage Rates

Max LTV 

Offer rate 

APR  

Arr fee

Booking fee

2 year Fixed rate Standard

65%

2.89%

3.7%

£0

£499

2 year Fixed rate Fee Free

65%

3.19%

3.7%

£0

£0

2 year Fixed rate Standard

75%

3.09%

3.7%

£0

£499

2 year Fixed rate Fee Free

75%

3.39%

3.7%

£0

£0

2 year Fixed rate Limited Edition

85%

3.89%

3.9%

£0

£999

2 year Fixed rate Limited Edition Fee Free

85%

4.29%

3.9%

£0

£0

3 year Fixed rate Standard

65%

3.19%

3.7%

£0

£499

3 year Fixed rate Fee Free

65%

3.49%

3.7%

£0

£0

3 year Fixed rate Standard

75%

3.39%

3.7%

£0

£499

3 year Fixed rate Fee Free

75%

3.69%

3.8%

£0

£0

5 year Fixed rate Standard

65%

3.69%

3.8%

£0

£499

5 year Fixed rate Fee Free

65%

3.99%

3.9%

£0

£0

5 year Fixed rate Limited Edition**

65%

3.49%

3.8%

£0

£1,499

5 year Fixed rate Standard

75%

3.89%

3.9%

£0

£499

5 year Fixed rate Fee Free

75%

4.19%

4.0%

£0

£0

5 year Fixed rate Limited Edition Fee Free

85%

4.49%

4.1%

£0

£0

3 year Capped Tracker Repayment Mortgage rates

Max LTV 

Offer rate 

% abv Base

APR  

Booking fee

Capped Tracker Limited Edition

65%

2.48%

1.98%

3.5%

£499

Capped Tracker Limited Edition

75%

2.88%

2.38%

3.6%

£499

Capped Tracker Limited Edition Fee Free

65%

2.88%

2.38%

3.5%

£0

Capped Tracker Limited Edition Fee Free

75%

3.28%

2.78%

3.6%

£0

Tracker Repayment Mortgage rates

Max LTV 

Offer rate 

% abv Base

APR  

Arr fee

Life of Loan Tracker Standard

65%

2.69%

2.19%

2.8%

£499

Life of Loan Tracker Fee Free

65%

2.99%

2.49%

3.0%

£0

Life of Loan Tracker Standard

75%

2.89%

2.39%

3.0%

£499

Life of Loan Tracker Fee Free

75%

3.19%

2.69%

3.2%

£0

Life of Loan Tracker Fee Free Limited Edition

85%

3.79%

3.29%

3.9%

£0

2 year Tracker Standard

65%

2.39%

1.89%

3.6%

£499

2 year Tracker Fee Free

65%

2.69%

2.19%

3.6%

£0

2 year Tracker Standard

75%

2.59%

2.09%

3.6%

£499

2 year Tracker Fee Free

75%

2.89%

2.39%

3.6%

£0

2 year Tracker Limited Edition Fee Free**

85%

3.49%

2.99%

3.7%

£0

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New Free Transfer Offer* makes moving mortgages to save money even easier first direct launches it's lowest ever mortgage rate on 23 December. At 1.49% above base rate (current pay rate 1.99%) for two years, it's an amazing deal for many homeowners sitting on a competitor's SVR. There's a £999 booking fee...


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first direct has changed the structure of its mortgage offering to make it easier for customers to decide which mortgage is best for them, whilst accommodating the needs of those who prefer not to pay up-front costs.  There are three categories 'Standard', 'Fee Free' and 'Limited Edition'.


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