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first direct Increases Its Range of Low Deposit Mortgages

LONDON, UNITED KINGDOM--(Marketwired - Jul 22, 2013) -

  • New 85% LTV 2 year Fixed rate Fee Free- 3.49%
  • New 85% LTV 5 year Fixed rate Fee Free- 3.79%
  • New 85% Tracker Fee Free - 3.49%
  • New 90% LTV 2 year Fixed rate - 3.59% with £1,499 booking fee
  • New 90% LTV 2 year Fixed rare Fee Free- 4.19%

From Friday 19 July first direct, recent winner of Moneywise Most Trusted Mortgage Provider, will introduce three new 85% LTV mortgages and a further two 90% LTV mortgages. Borrowers with 10-15% deposit or equity will be able to take advantage of these new repayment mortgage rates, which are offered with and without fees.

The direct bank now has market leading rates for several low deposit for 90% LTV mortgages including:

  • 3.99% life tracker - £999 arrangement fee
  • 3.59% 2 year fixed rate - £1,499 booking fee
  • 4.19% 5 year fixed rate- £1,499 booking fee

In addition, first direct are also lowering rates on mortgage for borrowers with a 35% deposit or equity with the following Best Buy mortgage rates:

  • 2.13% life tracker - £1,999 arrangement fee
  • 2.19% 3 year fixed rate - £1,999 booking fee
  • 2.49% 2 year tracker offset - £1,999 booking fee

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

"We continue to respond to customer demand and as a result have broadened the range of high LTV mortgages so that borrowers have a range of mortgage options that best suits their individual needs; be that for a fee-free, fixed or tracker rate."

Source: First Direct Newsroom

Notes to Editors

Our current rates can be found here.

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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.