first direct has reduced its 90 per cent loan-to-value (LTV) fixed rate mortgages by up to 30 basis points (bps) or 0.3 per cent.
The three and five year fixed rate repayment mortgages are available for borrowers with a 10 per cent deposit or equity. There are fee paying and fee free options. Fee free means no arrangement fee, no booking fee and no standard valuation fee.
- 90 per cent LTV 3.99 per cent three-year fixed rate with a £999 booking fee
- 90 per cent LTV 4.29 per cent fee free three-year fixed rate
- 90 per cent LTV 4.19 per cent five-year fixed rate with £1,499 booking fee
- 90 per cent LTV 4.49 per cent fee free five-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 per cent 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 per cent 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 per cent LTV 2.39 per cent three-year fixed rate with £1,499 fee
- 65 per cent & 75 per cent LTV standard & fee free two and three-year fixed rate repayment mortgages reduced by 10bps
- 65 per cent LTV standard & fee free term tracker repayment mortgages reduced by 10bps
- All two-year fixed rate offset mortgages reduced by 10bps
