First direct has expanded its range of low deposit mortgages.
It has introduced three new 85% LTV mortgages and a further two 90% LTV mortgages. Borrowers with 10-15% deposit or equity will be able to take advantage of these new repayment mortgage rates, which are offered with and without fees.
For example, at 90% LTV its mortgages now include:
- 3.99% life tracker – £999 arrangement fee
- 3.59% 2 year fixed rate – £1,499 booking fee
- 4.19% 5 year fixed rate- £1,499 booking fee
In addition, first direct are also lowering rates on mortgage for borrowers with a 35% deposit or equity with the following mortgage rates:
- 2.13% life tracker – £1,999 arrangement fee
- 2.19% 3 year fixed rate – £1,999 booking fee
- 2.49% 2 year tracker offset – £1,999 booking fee
Andy Forbes, head of retail products at first direct, said: “We continue to respond to customer demand and as a result have broadened the range of high LTV mortgages so that borrowers have a range of mortgage options that best suits their individual needs; be that for a fee-free, fixed or tracker rate.”