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first direct cuts mortgage rates

27 Jul 2012

first direct has cut the rates on all of its standard and fee free mortgage range.  The changes include cutting rates on all 5 Year Fixed Rate Repayment mortgages by 0.50%, and lowering rates on some Limited Edition mortgages.

As a result the following rates will appear in the best buy tables this weekend:

  • 90% LTV 4.29% 2 Year Fixed Rate Repayment Limited Edition - £999 fee
  • 65% LTV 3.19% 2 Year Tracker Offset - £499 fee
  • 65% LTV 2.64% 2 Year Fixed Rate Repayment Limited Edition - £,1999 fee
  • 65% LTV 2.79% Tracker Repayment Limited Edition - £999 fee

Repayment 5 yr fixed rates

Max LTV

Offer rate

APR

Arrangement fee

Booking fee

Standard

65%

3.79%

3.8%

£0

£499

Fee Free

65%

4.09%

3.9%

£0

£0

Standard

75%

3.99%

3.9%

£0

£499

Fee Free

75%

4.29%

4.0%

£0

£0

Limited Edition Fee Free

90%

4.99%

4.3%

£0

£0

Ian Bartholomew, Senior Mortgage Product Manager at first direct commented:

"first direct is renowned for providing market-leading customer service and we're happy to help borrowers looking for a better deal by cutting our mortgage rates at a time when other household bills are rising."

For further information and a copy of first direct 's mortgage rates past and present 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

first direct 's Standard and Fee Free mortgage range consists of 32 mortgage products.  Of the 42 mortgage products first direct offers it has reduced the rate on 37 i.e. 88%.

first direct 's entire mortgage range

first direct facts

  • Winner of the Which? Best Financial Provider award 3 years running
  • Winner of Most Trusted Mortgage Provider for the last 4 years at the Moneywise Customer Service Awards
  • Top financial institution in the Which? Customer Satisfaction Survey with an all-time high of 93%
  • Ranked first in the Retail Banking Satisfaction Study by J D Power & Associates for two years running
  • Recently (Feb 2012) received 90% customer satisfaction in a survey carried out by  MoneySavingExpert.com

first direct provides both telephone banking and online banking services to its 1.2m customers.  It offers a full range of personal banking products including its award winning Current Account and offset mortgages.

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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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