first direct has reduced the rate on its five-year fixed mortgage by 0.29%, accelerating its position in the charts and earning it the top accolade as a result.
This deal now has a highly competitive rate of 2.19%, the lowest rate currently offered for its terms. It is available at a loan-to-value (LTV) of 75% and has a fee of £1,450 per £400,000 loaned.
This deal is open to all borrowers in possession of a 25% deposit. An incentive package of free legal fees for remortgagors is available and all borrowers can profit from the flexibility of being able to make regular or lump sum overpayments.
By reducing the rate, first direct has ensured that this mortgage will capture the attention of borrowers with the right deposit. It is a particularly good deal for remortgagors, who can also benefit from the 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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