First direct has cut fixed term mortgage rates across its range of loan-to-values (LTVs) on capital repayment mortgages, and introduced its lowest ever fixed rate at 0.99%.
The revised mortgage range, which has seen cuts of up to 0.55%, includes a 60% LTV 2-year fix cut by 0.15% to 0.99%, with a £490 fee.
As well as this, the lender’s 60% LTV 5-year fix has been reduced by 0.15% to 1.09%, with a £490 fee, and its 75% LTV 2-year fix has been cut by 0.10% to 1.39%.
The 80% LTV 2-year fix has been reduced by 0.40% to 1.59% with a £490 fee and the 90% LTV 2-year fix has been cut by 0.50% to 2.39%.
Lloyd Robson, commercial director at first direct, said: “Whether moving house, remortgaging or getting additional lending, getting a mortgage with us has never been cheaper.
“We are proud to offer our first ever sub-1% mortgage alongside other rate cuts to our already competitive mortgage rates.”