First Direct has become the latest bank to cut mortgage rates, as the battle for customers continues.
Changes affect all of its standard and fee free mortgages and include cutting rates on all 5-year fixed rate repayment mortgages by 0.50%, and lowering rates on some limited edition mortgages.
Following the changes, a 90 per cent loan-to-value (LTV) mortgage is now 4.28 per cent with a 2-year fixed rate repayment and a £999 fee.
A 65 per cent LTV 2-year tracker offset is now available at 3.19 per cent, with a £499 fee and a 65 per cent tracker repayment limited edition mortgage is available at 2.79 per cent and a £999 fee.
Senior mortgage product manager Ian Bartholomew said: “First direct is renowned for providing market-leading customer service and we’re happy to help borrowers looking for a better deal by cutting our mortgage rates at a time when other household bills are rising.”
