First Direct has cut rates across its range of two and five-year fixed-rate mortgages.

The revised range for two-year mortgages is available now and includes:

A 75% loan to value two-year fixed is now 1.44%, with a £490 fee. A 0.10% cut.

A 75% LTV two-year fixed is now 1.79% fee saver. A 0.10% cut.

A 85% LTV two-year fixed is now 2.59% fee saver. A 0.15% cut.

A 85% LTV two-year fixed is now 2.84%, with a£490 fee. A 0.10% cut.

A 90% LTV two-year fixed is now 3.09%, with a£490 fee. A 0.10% cut.

A 90% LTV two-year fixed is now 3.34% fee saver. A 0.05% cut.

Revised five-year products are also available now and includes:

A 85% LTV five-year fixed is now 2.79%, with a £490 fee. A 0.10% cut.

A 85% LTV five-year fixed is now 3.09% fee saver. A 0.10% cut.

First Direct’s Fee Saver rates do not come with fees associated with the mortgage.

This means no arrangement fee, no booking fee and no standard valuation fee. First Direct will also pay the cost of one standard valuation where this is required by the lender as part of the mortgage application.

First Direct commercial director Lloyd Robson says: “We’re seeing increased demand among homebuyers looking for shorter term two and five year fixed rates. In response, we’ve reduced our already competitive rates even further.

“We also understand that giving borrowers a choice of either fees and fee-free deals gives them more flexibility when looking at their mortgage needs.”