first direct has reduced the price of its variable tracker mortgage by 0.61%, earning it the top accolade and securing it a coveted place in the Moneyfacts charts.
This deal now has a variable tracker rate of 2.98% for the term of the mortgage, a market-leading rate for its terms. It is available at a loan-to-value (LTV) of 90% and has a fee of £950.
This mortgage is available to all borrowers in possession of a 10% deposit. Those looking to remortgage their home can benefit from an incentive package of free legal fees, while all borrowers can profit from the opportunity to overpay by regular or lump sum repayments.
The rate reduction has made this deal highly competitive, something that is bound to appeal to borrowers with only a modest deposit. Remortgagors in particular stand to benefit, thanks to an enticing incentive package of free legal fees. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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