Rate cut for 5-yr mortgage | Product News - Moneyfacts

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Rate cut for 5-yr mortgage

Rate cut for 5-yr mortgage

Category: Mortgages
Date: 15/02/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

The basics…

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.

The finer details…

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.

Why we like it…

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

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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