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first direct drops rates on two and five year fixed rate mortgages

14 Jul 2017

New changes enhance appeal of award-winning mortgage range

first direct has cut rates across its award-winning repayment mortgages, giving homebuyers an even greater choice of products to suit different financial needs.

The revised mortgage range includes:

 

  • 80% LTV Two Year Fixed Rate Standard – 1.24% with £1,450 fee (reduced by 0.10%)

  • 85% LTV Two Year Fixed rate Standard – 1.34% with £1,450 fee (reduced by 0.10%)

     

  • 80% LTV Two Year Fixed Fee Saver – 1.74% fee saver* (reduced by 0.10%)

  • 85% LTV Two Year Fixed Fee Saver – 1.79% fee saver* (reduced by 0.10%)

  • 90% LTV Two Year Fixed Fee Saver – 2.39 % fee saver* (reduced by 0.05%)

     

  • 60% LTV Five Year Fixed Rate Standard – 1.69% with £1,450 fee (reduced by 0.05%)

  • 75% LTV Five Year Fixed Rate Standard – 1.84% with £1,450 fee (reduced by 0.10%)

  • 80% LTV Five Year Fixed Rate Standard – 1.99% with £1,450 fee (reduced by 0.10%)

  • 85% LTV Five Year Fixed Rate Standard – 2.14% with £1,450 fee (reduced by 0.05%)

     

  • 75% LTV Five Year Fixed Fee Saver - 2.14% fee saver* (reduced by 0.05%)

  • 80% LTV Five Year Fixed Fee Saver – 2.29% fee saver* (reduced by 0.05%) 

Nick Harrison, Head of Products at first direct , said:

“We’ve cut the rates on our range of two and five year fixed rate mortgages, offering competitive rates on products to customers who want the certainty of a fixed repayment. At first direct , we aim to offer a wide choice of competitive products to suit customers’ needs.”

Ends

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first direct's two new fee free offset trackers launched today, are the best of their type in the market according to Moneyfacts.  The first, with a 60% Loan to Value (LTV), tracks 2.49% above base rate (currently 2.99%).  The second, a 75% LTV deal, tracks 2.94% above base rate (currently 3.44%).


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On Friday 23 August first direct, winner of Moneywise Most Trusted Mortgage Provider, reduced the rates on eleven of its Offset and Repayment mortgages by up to 0.2% to provide even better value to customers.  Borrowers with 25-35% deposit or equity are able to take advantage of these lower rates, which are offered with and without fees.


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