first direct reduces its 90% LTV fixed rate mortgages

first direct is reducing its 90% LTV fixed rate mortgages by up to 30 basis points on Friday 12 April 2013.

Borrowers with a 10% deposit or equity will be able to take advantage of the new repayment mortgage rates which are offered over a fixed term of either three of five years.  

90% LTV 3.99% 3 Year Fixed rate with a £999 booking fee

90% LTV 4.29% Fee Free 3 Year Fixed rate

90% LTV 4.19% 5 Year Fixed rate with £1,499 booking fee

90% LTV 4.49% Fee Free 5 Year Fixed rate

Andy Forbes, Head of Retail Products at first direct commented: "In response to increased demand for high LTV mortgages we have reduced our 90% LTV rates by up to 30 basis points to ensure our customers have access to our most competitive rates.
 
"Also, to drive down the up-front cost of purchasing a property, first direct currently offers a fee free option on all its 90% LTV mortgages, helping buyers avoid arrangement, booking and valuation fees."
 
For borrowers with a larger deposit, the direct bank has made further rate reductions across the rest of its mortgage range including:

65% LTV 2.39% 3 Year Fixed Rate with £1,499 fee

65% & 75% LTV Standard & Fee Free 2 and 3 Year Fixed Rate Repayment Mortgages reduced by 10bps

65% LTV Standard & Fee Free Term Tracker Repayment Mortgages reduced by 10bps

All 2 Year Fixed Rate Offset Mortgages reduced by 10bps

For more information, visit firstdirect.com.