first direct has reduced rates across its range of 2-, 3- and 5-year fixed repayment mortgages by up to 0.17% for first-time buyers and home movers.
The lowest rates available include its 60% loan-to-value (LTV) 5-year fixed standard, at 4.31%.
The range starts at 4.73% for the 60% LTV 2-year fixed standard and at 4.64% for the 3-year fixed standard. Those rates are available for first-time buyers and home movers.
The biggest rate reduction has been made to its 2-year fixed standard at 85% LTV, which has been reduced by 0.17% and is now priced at 4.99% down from 5.16%.
As part of its 5-year offering, first direct has implemented reductions of 0.16% on both the 70% and the 75% LTV 5-year fixed standard products, now available at 4.39%.
Liam O’Hara, head of mortgages at first direct, said: “We are committed to supporting our customers by reducing the cost of borrowing where we can, and we’re pleased to be reducing our rates across our range of 2-, 3- and 5-year fixed mortgages, across LTVs from 60% to 95%.
“We see the highest demand for those products and today’s changes will help people making their first steps on the ladder, or those moving into their next home.
“We also remain focused on offering highly competitive options to our existing customers who are looking to remortgage.”
O’Hara added: “We have a range of flexible features available, designed to add value and support our customers.
“These include unlimited overpayments on all our mortgages, 40-year maximum terms and product booking fees capped at £490.
“Earlier this year, we also introduced differential pricing for different buyer types so that we can ensure we offer competitive products tailored to our customers’ specific needs.”
