first direct Launches 3 Best in Class Mortgages

LONDON, March 15, 2013 /PRNewswire/ --

• 2.49% 3 year fixed rate repayment mortgage - £1,499 fee
• 2.64% 5 year fixed rate repayment mortgage - £1,399 fee
• 2.38% tracker repayment mortgage with £1,699 fee

first direct, recent winner of the Consumer Moneyfacts Remortgage Buyers' Choice award, will launch three market-leading mortgages on Friday 15 March 2013. Borrowers with a 35% deposit or equity will be able to take advantage of the new rates which include both repayment and offset products.

The move by the direct bank comes as mortgage rates reach unprecedented low levels.

Andy Forbes, Head of Retail Products at first direct commented:  "Over the last month we have seen competition increase in the mortgage market.  In particular our five year fixed rates have been extremely popular.  In response to this demand we have lowered the rates on many of our five year fixed rates, to ensure our customers have access to our most competitive rates."

first direct facts

• Winner of Moneywise Most Trusted Mortgage Provider 4 years running
• Winner of Which? Best Financial Provider and Moneywise Most Trusted Financial Provider 3 years running
• Top financial institution in the Which? Customer Satisfaction Survey with an all-time high of 93%
• Ranked first in the Retail Banking Satisfaction Study by J D Power & Associates for two years running
• Received 90% customer satisfaction in a survey carried out by  MoneySavingExpert.com (Feb 2012)

first direct provides both telephone banking and online banking services to its 1.2m customers.  It offers a full range of personal banking products including its award winning Current Account and offset mortgages.

SOURCE first direct