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first direct increases its range of low deposit mortgages

19th July 2013 Print

From Friday 19 July first direct 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."