The headline rate cut is available at up to 60% LTV and comes with a £490 fee. A 15 basis point cut sees it offered at 0.99%.

The 60% LTV five-year fix with £490 fee has also had 15 basis points removed, providing a rate of 1.09%.

Meanwhile, the 75% LTV two-year fix with zero fee has been cut by 10 basis points to 1.39% and the 80% LTV two-year fix with £490 fee has had 40 basis points removed, bringing its rate to 1.59%.

And the 90% LTV two-year fix with zero fee has received a 50 basis point cut, offering a new rate of 2.39%.

first direct commercial director Lloyd Robson comments: “We are proud to offer our first ever sub-1% mortgage alongside other rate cuts to our already competitive mortgage rates.”