The first, with a 60% Loan to Value (LTV), tracks 2.49% above base rate (currently 2.99%). The second, a 75% LTV deal, tracks 2.94% above base rate (currently 3.44%).
The mortgages are truly fee free and in both cases customers will not have to pay the following:-
No booking fee
No arrangement fee
No exit fees (closure admin fee)
No early redemption penalty
No Standard Valuation Fee
Jimmy Kelly, head of mortgages at first direct commented: "We find some mortgage customers are often put off moving from their current provider by the large fees associated with securing their new deal. Our new offers are in direct response to the feedback we've had from customers looking to move to first direct.
“We also understand that customers are now looking for real value everywhere and not just with the headline rate and here we have addressed both the need for fee free and flexibility, including offset and unlimited overpayment."
The new offers are available to customer looking at bringing their loan from a competitor and are only available for a limited time.
