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first direct cuts rates and launches market leading 10 year fixes

12 Feb 2016

Latest rate changes boost appeal of award winning product range

first direct has launched a range of market-leading fee free 10 year fixed rates, and cut rates across its award winning mortgage range, giving homebuyers a wider choice of mortgage products to suit different financial needs.

The revised mortgage range, which is available from today (Friday 12 February 2016), includes:

60% LTV 10 Year Fixed – 2.89% fee saver*

75% LTV 10 Year Fixed – 2.99% fee saver*

85% LTV 10 Year Fixed – 3.69% fee saver*

For borrowers looking to fix rates over a shorter period, first direct has also cut a number of two and five year rates, including:

60% LTV 2 Year Fixed – 1.15% with £1450 fee (reduced by 0.14%)

60% LTV 2 Year Fixed – 1.84% fee saver* (reduced by 0.15%)

75% LTV 2 Year Fixed – 1.29% with £1450 fee (reduced by 0.10%)

75% LTV 2 Year Fixed – 1.99% fee saver* (reduced by 0.20%)

Further rate cuts at 80% and 85% LTV

60% LTV 5 Year Fixed – 2.09% with £1450 fee (reduced by 0.10%)

60% LTV 5 Year Fixed – 2.39% fee saver* (reduced by 0.10%)

75% LTV 5 Year Fixed – 2.19% with £1450 fee (reduced by 0.29%)

75% LTV 5 Year Fixed – 2.68% fee saver* (reduced by 0.01%)

Further rate cuts at 80% and 85% LTV

And for those looking for an offset mortgage, first direct is now offering a 60% LTV 2 Year Fixed rate at 1.99% with a £950 fee (2.49% fee saver*), and a 75% LTV 2 year Fixed rate 2.14% with a £950 fee (2.64% fee saver*).

Tracy Garrad, Chief Executive of first direct , commented: “We have listened to feedback from our borrowers and have responded with the re-launch of our market leading 10 year fixed rate range. These latest rate changes mean we can offer a wider range of market-leading fixed rates– with and without fees – which can offer more protection against any future base rate increases.”

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

Ends

Existing customers receive enhanced rates.

* 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.

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first direct has cut rates across its award winning two and five year fixed rate mortgage range, giving homebuyers a wider choice of mortgage products to suit different financial needs. The revised mortgage range, which is available from today (Friday 1 July 2016)...


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