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first direct cuts rates across mortgage range

10 May 2013

Majority of 65%, 75% and 90% LTV mortgages reduced by up to 50bps 

On 10 May 2013 first direct , recent winner of Which? Recommended Mortgage Provider, has responded to market movements and will further reduce rates on over 85% of its mortgage range by up to 50 basis points.  Borrowers with a 10-35% deposit or equity will be able to take advantage of the new rates, which include both repayment and offset products. 

In addition, first direct 's fourth mortgage rate reduction in as many months sees the introduction of two market-leading mortgage products:

  • 2.49% 5 year fixed rate - £1,999 fee at 65% LTV
  • 3.99%  life tracker - £999 fee at 90% LTV

Andy Forbes, Head of Retail Products at first direct commented: 

"Since the beginning of the year we've continued to see competition increase in the mortgage market.  In order to provide the best deal for all our customers, whether they have a 10 or 35 per cent deposit, we've once again made reductions to our mortgage range to ensure all have access to market leading products."

 

-Ends- 

 

For further information please contact Rebecca Hirst on 0113 276 6899, rebecca.hirst@firstdirect.com or Amanda Brown on 0113 276 6700, amanda.brown@firstdirect.com 

Notes to Editors  

For the latest updates, visit the first direct Newsroom or follow us on Twitter

For a full and up-to-date list of all first direct mortgage rates please visit http://mortgages.firstdirect.com/mortgage-rates from Friday 10 May.

first direct facts

  • Winner of Moneywise Most Trusted Mortgage Provider 4 years running
  • Winner of Which? Best Financial Provider and Moneywise Most Trusted Financial Provider 3 years running
  • 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
  • Received 90% customer satisfaction in a survey carried out by  MoneySavingExpert.com (Feb 2012)

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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