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Go directly for a low rate

Go directly for a low rate

Category: Mortgages

Updated: 02/07/2010
First Published: 02/07/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Potential home buyers with a decent chunk of equity are likely to be tempted by first direct's two year fixed rate mortgage, which has benefitted from a rate cut and an extremely low fee.

Available by approaching the lender direct, the mortgage now offers a rate of 2.99% for two years, a maximum loan-to-value of 65%, and a fee of just £99.

This new deal, on rate alone, is on a par with the current market leader within the market. However, the £99 fee easily trumps its rival, which requires £999.

Four out of five Moneyfacts stars have been awarded.

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