Unfortunately, this deal is no longer available
First Direct 2 Year Fixed Repayment Fee Saver Mortgage 1.54% (60% LTV) @ First Direct
299° Expired

First Direct 2 Year Fixed Repayment Fee Saver Mortgage 1.54% (60% LTV) @ First Direct

14
Posted 10th May

This deal is expired. Here are some options that might interest you:

Thought this was a decent deal for anyone who is looking for a mortgage or to remortgage. Available to new customers and existing customers.
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It appears to be the cheapest fee free 2yr fix.
Not the cheapest as posted below by others.

IF you are borrowing a tiny amount, these high rate low fee offers may be useful.
By my math's this is only a better deal for those borrowing less than roughly £100k.

However.... on a £200k mortgage the £1000 fee over 2 years is 500/yr, which is only 0.25% so HSBCs 1.19%+£1k fee would be the equivalent of 1.44%.
Edited by: "stave84" 11th May
14 Comments
I am sure there are better rates then this out there.
Good deal - high LTV though
It appears to be the cheapest fee free 2yr fix.
Not the cheapest as posted below by others.

IF you are borrowing a tiny amount, these high rate low fee offers may be useful.
By my math's this is only a better deal for those borrowing less than roughly £100k.

However.... on a £200k mortgage the £1000 fee over 2 years is 500/yr, which is only 0.25% so HSBCs 1.19%+£1k fee would be the equivalent of 1.44%.
Edited by: "stave84" 11th May
just posted a better deal. waiting to be approved.
Amazing that HSBC have a cheaper equivalent - usually First Direct is cheaper than their parent company
Good luck to any trying to get a mortgage at the moment, with the uncertainty involved with covid itll be interesting to hear some news of anyone taking this out and what their valuations were.
c5810/05/2020 16:03

Good luck to any trying to get a mortgage at the moment, with the …Good luck to any trying to get a mortgage at the moment, with the uncertainty involved with covid itll be interesting to hear some news of anyone taking this out and what their valuations were.


We've just remortgaged with first direct. The desk based valuation came in at a 1.3% increase in value from 19 months ago when we bought the house. I was hoping for a cumulative 2% p/a increase which would have put us into the next equity band. We were told we could ask for a proper valuation, but didn't risk it because it could go down as well as up, and the people doing valuations would do them desk based anyway due to the lockdown. Still, fixed for 5 years at 2.29%
jassco10/05/2020 16:30

We've just remortgaged with first direct. The desk based valuation came in …We've just remortgaged with first direct. The desk based valuation came in at a 1.3% increase in value from 19 months ago when we bought the house. I was hoping for a cumulative 2% p/a increase which would have put us into the next equity band. We were told we could ask for a proper valuation, but didn't risk it because it could go down as well as up, and the people doing valuations would do them desk based anyway due to the lockdown. Still, fixed for 5 years at 2.29%


Interesting, I guess as it's a remortgage they were happy doing the desk valuation but I think youd struggle if you were a new purchase, I've not heard of desk based valuations before but I guess all they're going off would be house prices in the area.

Glad to hear you managed to lock into a deal you were happy with though
No longer the most popular bank. It’s dropped it’s position and has bad ratings nowadays.
c5810/05/2020 18:58

Interesting, I guess as it's a remortgage they were happy doing the desk …Interesting, I guess as it's a remortgage they were happy doing the desk valuation but I think youd struggle if you were a new purchase, I've not heard of desk based valuations before but I guess all they're going off would be house prices in the area.Glad to hear you managed to lock into a deal you were happy with though


It may depend on loan size? I moved house before the virus and both my sale and purchase were desk based.
ec9wrr12/05/2020 07:07

It may depend on loan size? I moved house before the virus and both my …It may depend on loan size? I moved house before the virus and both my sale and purchase were desk based.


Really? That's interesting, I've genuinely never heard of a mortgage being offered without an in person valuation being done.
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