In addition to reducing the rate on its 65% LTV option first direct will also be reducing its 75% LTV 5 year fixed repayment mortgages by 30 basis points.
Richard Tolchard, Senior Mortgage Product Manager at first direct commented:
"After the outcome of the General Election, the peace of mind of fixed monthly payments for the next 5 years is still important. We're really pleased to be able to help homeowners fix their payments until after the next General Election by further reducing our 65% LTV option making it best in its class."