LONDON, UNITED KINGDOM — (Marketwired) — 08/23/13 — From Friday 23 August first direct, winner of Moneywise Most Trusted Mortgage Provider, will reduce the rates on eleven of its Offset and Repayment mortgages by up to 20 Basis Points (BP) to provide even better value to customers. Borrowers with 25-35% deposit or equity will be able to take advantage of these lower rates, which are offered with and without fees.
In addition to reducing its rates, the internet and telephone bank also offers a fee free(i) option across their mortgage range to help borrowers keep their upfront costs down.
Andy Forbes, Head of Retail Products at first direct commented:
“Despite Funding for Lending making the mortgage market more competitive and the recent uplift in the housing market we haven-t seen as many people as we expected taking the plunge and moving mortgages.
“We want to make it easy for customers to get a great mortgage deal, removing the barrier of paying a fee. So now, whether you have a high or low LTV, want a Tracker or Fixed rate, Offset or Repayment, there is a first direct fee free mortgage with a great rate that fits.”
Source:
Notes to Editors
Please find current and previous rate sheets attached for all first direct mortgage rates.
(i) Fee free means:
first direct will cover the cost of one standard valuation where this is required as part of the mortgage application. Additionally, where it is a straight forward transfer from another lender, first direct also pays the standard legal costs.
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first direct provides both telephone banking and online banking services to its 1.2m customers. It offers a full range of personal banking products including its award winning Current Account and offset mortgages.
Contacts:
Rebecca Hirst
0113 276 6899
Amanda Brown
0113 276 6700