First Direct has cut rates by up to 0.30 per cent across its two-and five-year fixed rate mortgage range.
First Direct’s chief executive Tracy Garrad stated: “We try to be responsive to the needs of borrowers and have cut rates and widened our range of two and five years fixed rate mortgages – with and without fees – which can offer more certainty in uncertain times.”
| Two-year fixed range: | |
| 60 per cent LTV | Cut by 0.10 per cent to 1.89 per cent |
| 75 per cent LTV | Cut by 0.10 per cent to 1.99 per cent |
| 90 per cent LTV | Cut by 0.10 per cent to 2.79 per cent |
All the two-year fixes are ‘fee savers’, meaning no booking fee, no arrangement fee and no standard valuation fee.
Additionally, First Direct will cover the cost of one standard valuation where the lender requires it for the mortgage application, although other fees and charges may apply.
| Five-year fixed range: | |
| 60 per cent LTV | Cut by 0.10 per cent to 2.14 per cent with £1450 fee |
| 60 per cent LTV ‘fee saver’ | Cut by 0.10 per cent to 2.69 per cent |
| 85 per cent LTV | Cut by 0.16 per cent to 2.63 per cent with £1450 fee |
| 90 per cent LTV ‘fee saver’ | Cut by 0.30 per cent to 3.29 per cent |
peter.walker@ft.com
