first direct has introduced another round of mortgage rate reductions, up to 0.25%, across more than 100 products.
Rates now start at 3.79% on the 60% loan-to-value (LTV) 5-year fixed standard.
The 3.79% rate is available across all buyer types including first-time buyers, home movers, switchers and new remortgage customers.
The largest rate reductions apply to the 3-year fixed range, within the higher LTV brackets of 85% LTV and above.
For first-time buyers and home movers, the 85% LTV fixed fee saver is now on offer for 4.74% down from 4.99%.
For new customers looking to remortgage, the 3-year fixed standard 90% LTV product has also reduced by 0.25% and is available at 5.39%.
In the 2-year fixed range, interest rates start at 4.09% for existing customers and new remortgage customers and at 4.14% for first-time buyers and home movers on the 60% LTV fixed rate standard.
The most significant cuts of 0.20% have been applied to remortgage products, with the 2-year fixed fee saver at 60% LTV priced at 4.44% and at 70% and 75% LTV priced at 4.59%.
In the 5-year fixed range, reductions of 0.20% have also been made to remortgage products with the 5-year fixed standard at 70% and 75% LTV available at 3.94%.
For first-time buyers and home movers, the biggest reduction is on the 85% LTV 5-year fixed standard, now available at 4.54%.
The 95% LTV product has also been reduced by 0.10%, now at 5.09%.
Liam O’Hara, head of mortgages at first direct, said: “We’ve cut rates across all our repayment ranges of 2-, 3- and 5-year fixed products, with rates now starting at a competitive 3.79%.
“The vast majority of our products are now priced well under 5%, with our 5-year fixed range offering rates to first-time buyers and home movers under that bracket all the way up to 90% LTV.
“It’s also great to see remortgage rates continuing their downward trajectory, with the 3.79% rate available to new remortgage customers.
“We’re starting to see more activity in the remortgage market, with more customers shopping around for the best deal, so it’s great to be able to make our most competitive price available to those customers.”
He added: “We continue to review our pricing regularly to ensure the best value we can for our customers.
“We also try to offer value in other ways: our mortgages are fully flexible with free unlimited overpayments on all our ranges, as well as a 40-year maximum terms and product booking fees capped at £490.”
