first direct has announced major cuts to their mortgage rates, with some deals now available below 4%.

The bank has reduced rates across over 100 of its mortgage products, with cuts of up to 0.25% available. This means you could bag a cheaper deal, whether you’re a first-time buyer, moving home, or looking to remortgage.

Here’s a breakdown of the key changes:

• Fixed-rate deals starting from 3.79%: That’s right, you can now secure a 5-year fixed-rate mortgage with a 60% loan-to-value (LTV) at just 3.79%!
• Big savings for first-time buyers: The 3-year fixed-rate mortgage for those with a 85% LTV has been slashed from 4.99% to 4.74%.
• Remortgage rates plummet: Looking to switch your mortgage? The 3-year fixed-rate deal at 90% LTV has been cut by 0.25% to 5.39%.
• Even lower rates for remortgagers on 2-year fixes: The 2-year fixed-rate deals at 60%, 70%, and 75% LTV have all been reduced by 0.20%.

Liam O’Hara, head of mortgages at first direct, said: “We’ve cut rates across all our repayment ranges… with rates now starting at a competitive 3.79%… It’s also great to see remortgage rates continuing their downward trajectory.”

And there’s more good news! first direct offers flexible mortgages with free unlimited overpayments, a maximum term of 40 years, and capped booking fees of £490.