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first direct reduces its 90% LTV fixed rate mortgages

12 Apr 2013

  • 90% LTV 3 Year Fixed Rates reduced by 30bps
  • 90% LTV 5 Year Fixed Rates reduced by 20bps

first direct , recently named Which? Recommended Mortgage Provider, will reduce its 90% LTV fixed rate mortgages by up to 30 basis points on Friday 12 April 2013.  Borrowers with a 10% deposit or equity will be able to take advantage of the new repayment mortgage rates which are offered over a fixed term of either three of five years.   

  • 90% LTV 3.99% 3 Year Fixed rate with a £999 booking fee
  • 90% LTV 4.29% Fee Free* 3 Year Fixed rate
  • 90% LTV 4.19% 5 Year Fixed rate with £1,499 booking fee
  • 90% LTV 4.49% Fee Free* 5 Year Fixed rate

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

"In response to increased demand for high LTV mortgages we have reduced our 90% LTV rates by up to 30 basis points to ensure our customers have access to our most competitive rates.

"Also, to drive down the up-front cost of purchasing a property, first direct currently offers a fee free option on all its 90% LTV mortgages, helping buyers avoid arrangement, booking and valuation fees."

For borrowers with a larger deposit, the direct bank has made further rate reductions across the rest of its mortgage range including:

  • 65% LTV 2.39% 3 Year Fixed Rate with £1,499 fee
  • 65% & 75% LTV Standard & Fee Free* 2 and 3 Year Fixed Rate Repayment Mortgages reduced by 10bps
  • 65% LTV Standard & Fee Free* Term Tracker Repayment Mortgages reduced by 10bps
  • All 2 Year Fixed Rate Offset Mortgages reduced by 10bps




For further information please contact Rebecca Hirst on 0113 276 6899, or Amanda Brown on 0113 276 6700,   

Notes to Editors  

* Fee free means:

  • No arrangement fee
  • No booking fee
  • No standard valuation fee

first direct will cover the cost of one standard valuation where this is required as part of the mortgage application.  Additionally, where it is a straight forward transfer from another lender, first direct also pays the standard legal costs.  

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

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 (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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