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first direct cuts mortgage rates to offer a series of market leading deals

30 Oct 2015

Latest rate changes make the award winning product range even more attractive

first direct has made rate changes across its award winning mortgage range, giving homebuyers a wider choice of mortgage products to suit different financial needs. This includes cuts on a number of fixed rate deals across different loan to value (LTV) products, which can offer more protection against any future base rate increases. The revised mortgage range, which is available from today (Friday 30 October 2015), includes:

  • 60% LTV 2 Year Fixed - 1.24% with £1450 fee (down 0.05% from 1.29%)
  • 75% LTV 2 Year Fixed - 1.39% with £1450 fee (down 0.09% from 1.48%)
  • Further rate cuts at 80% and 85% LTV

For borrowers that are looking to fix rates over a longer period, first direct will continue to offer its competitive five year rates including:

  • 60% LTV 5 Year Fixed - 2.19% with £1450 fee
  • 60% LTV 5 Year Fixed - 2.49% fee saver*
  • 75% LTV 5 Year Fixed - 2.48% with £1450 fee

And for those looking for more flexible rates which track the base rate, first direct is now offering 1.74% at 60% LTV - 0.25% down from the previous rate of 1.99%.

Tracy Garrad, CEO of first direct commented: “We know that people have different priorities when it comes to selecting a mortgage product and it is important that our range is tailored to the needs of our customers. The latest rate changes mean that we can offer a wider range of market-leading rates - with and without fees - to suit all borrowers, regardless of their financial position.”

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

- Ends -

For further information please contact Gill Fleming via gillian.fleming@hsbc.com or call 0113 2766899.

Notes to Editors:

Details of all the changes are available on request.

Existing customers receive £500 off Standard Range Booking Fees. *

Fee saver means no booking fee, no arrangement fee and no standard valuation fee. first direct will cover the cost of one standard valuation where this is required by first direct as part of the mortgage application. Other fees and charges may apply, for example legal fees, Early Repayment Charge, charges raised by the existing lender.

About first direct

first direct provides telephone, online and mobile banking services to its 1.3m customers and offers a full range of personal banking products including its multi-award winning current account and mortgages. It has been recognised for its excellent customer service by numerous independent third parties including Which?, Moneywise, Moneyfacts and Moneysavingexpert.com. As well as its Facebook page, first direct uses social media to engage with customers through sites like YouTube, Twitter, Flickr and Tumblr. 

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