News Column

First DIrect-Rate cuts from first direct mean cheaper home loans for a wide range of borrowers

September 2, 2014



ENP Newswire - 02 September 2014

Release date- 01092014 - New market leading 5 year fixed and 2 year tracker rates at 65% LTV plus borrowing costs reduced for 90% LTV mortgages.

From Monday 1 September, first direct is reducing all fixed rate mortgages in its range as well as launching a market leading 65% LTV 5 year fixed rate at 2.89% and a 2 year offset tracker at 1.69% - both with a GBP1,450 fee.

There is also positive news for First Time Buyers and home movers who have a smaller deposit. The new lower priced products below are some of the most competitive currently available:

90% LTV 2 year fixed - 3.59% with GBP950 fee

90% LTV Fee Saver 2 year fixed - 3.89%

90% LTV 5 year fixed - 4.29% with GBP950 fee

90% LTV Fee Saver 5 year fixed - 4.59%

90% LTV Lifetime tracker - 4.29% with GBP950 fee

90% LTV Fee Saver Lifetime tracker - 4.49%

Andrew Hagger of moneycomms.co.uk commented: 'It's refreshing to see that first direct is offering competitive mortgage deals at both ends of the LTV spectrum.

'Too often those not fortunate enough to have the luxury of a 20% plus deposit are overlooked and have to search hard to find a sensibly priced home loan.

'With rate rises still a possibility from 2015 the 5 year fix at 2.89% is likely to prove very popular with home movers. '

Andy Forbes, Head of Products at first direct commented: 'In order to provide the best deal for all our customers, whether they have a large or small deposit, we've refreshed our mortgage range and reduced rates to ensure everyone can have access to some of the most keenly priced products in the market.'

Ends

For further information please contact Amanda Brown on 0113 276 6700, amanda.brown@firstdirect.com or Rebecca Hirst on 0113 276 6899, rebecca.hirst@firstdirect.com


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Source: ENP Newswire


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