A First Direct Mortgage provides borrowers with the best mortgage deals

A First Direct Mortgage may provide borrowers with one of the best mortgage deals available in the current market place as First Direct have added a number of new products to their mortgage portfolio. First Direct have recently launched a variable rate tracker mortgage which offers home buyers a competitive rate of 4.99 per cent on a maximum LTV (loan to value) of 90 per cent. They also offer with this mortgage free legal fees for those home owners re mortgaging or a free valuation and with no fees this presents a desirable mortgage package.

As tracker mortgages do not fit everyone's requirements and many borrowers prefer the security of identical monthly repayments a fixed-rate mortgage may be a better option.. Recent fixed-rate mortgages appear to have hit a low and there are several lenders offering very good rates. For example choosing a First Direct mortgage could ensure that mortgage repayments remain low with their fixed-rate mortgage at 3.28 per cent and up to 65 per cent LTV. This mortgage comes with a fee of £1,999. Borrowers do need to factor in the fees involved as well as the proposed rates when considering their mortgage deal.

Home buyers whose priority has become the security of a long term mortgage have in recent times been left disappointed as the demand for these type of mortgages has increased and subsequently the Norwich and Peterborough Building Society had to pull its lowest ever ten-year fixed rate mortgage due to this unprecedented demand. Other lenders are proposing longer term tracker mortgages and there is a First Direct mortgage deal offering a lifetime tracker at a rate of 2.89 per cent for those borrowers with a 25 per cent deposit and it comes with a fee of £499.