Borrowers with a 10-35% deposit or equity will be able to take advantage of the new rates, which include both repayment and offset products.
In addition, first direct's fourth mortgage rate reduction in as many months sees the introduction of two highly competitive mortgage products:
- 2.49% 5 year fixed rate - £1,999 fee at 65% LTV
- 3.99% life tracker - £999 fee at 90% LTV
Andy Forbes, Head of Retail Products at first direct commented:
"Since the beginning of the year we've continued to see competition increase in the mortgage market. In order to provide the best deal for all our customers, whether they have a 10 or 35 per cent deposit, we've once again made reductions to our mortgage range to ensure all have access to competitive products."
