Both rates are amongst the lowest in the market, revert to an award winning SVR of 5.75 per cent and have a maximum loan-to-value of 80 per cent.
In addition to the great rates, both mortgages have an offset facility which links day-to-day savings and current account balances to the mortgage, so customers only pay the interest on the difference.
This reduces the total amount owed, meaning that less interest is paid. For example, someone with a £100,000 mortgage and £20,000 in savings would only pay interest on £80,000.
A typical couple with a £125,000 mortgage and an average savings balance of £5,159 each would save as much as £273.66 in just one year by switching to an offset from a mortgage paying the same rate of 5.19 per cent.
Find a mortgage to suit you here
Chris Pilling, fisrt directs chief executive, said: These two new mortgages are unique in the market at the moment. Not only are they very competitive but customers can move as many times as they like at no extra charge, overpay, underpay and redraw funds, without further approval, at a moments notice.
For more information visit the first direct website
