The mortgages are as follows:
- 2.49% 3 year fixed rate repayment mortgage - £1,499 fee
- 2.64% 5 year fixed rate repayment mortgage - £1,399 fee
- 2.38% tracker repayment mortgage - £1,699 fee
Borrowers with a 35% deposit or equity will be able to take advantage of the new rates which include both repayment and offset products.
The move by the direct bank comes as mortgage rates reach unprecedented low levels.
Andy Forbes, Head of Retail Products at first direct commented:
"Over the last month we have seen competition increase in the mortgage market. In particular our five year fixed rates have been extremely popular. In response to this demand we have lowered the rates on many of our five year fixed rates, to ensure our customers have access to our most competitive rates."