First Direct Mortgages
Best First Direct Mortgage Rates
First Direct Mortgages
Compare First Direct Mortgages. First Direct is a telephone and internet-based retail bank which is a division of HSBC. They provide mortgages for first time buyers and current homeowners. They do not currently offer buy to let mortgages.
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- 4.20% Initial
- 5 year fixed
- 6.7% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.21% Initial
- 5 year fixed
- 7% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.26% Initial
- 5 year fixed
- 7% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.30% Initial
- 5 year fixed
- 6.7% APRC
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Cashback £0Free LegalsFree Valuation
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- Halifax
- 4.32% Initial
- 5 year fixed
- 7% APRC
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Cashback Max £250Free LegalsFree Valuation
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- 4.32% Initial
- 5 year fixed
- 6.6% APRC
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Cashback £0Free LegalsFree Valuation
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- Halifax
- 4.32% Initial
- 5 year fixed
- 7% APRC
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Cashback Max £250Free LegalsFree Valuation
- Get quotes
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- 4.33% Initial
- 5 year fixed
- 6.2% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.34% Initial
- 5 year fixed
- 7% APRC
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Cashback £0Free LegalsFree Valuation
- Get quotes
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- 4.34% Initial
- 5 year fixed
- 6.7% APRC
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Cashback £0Free LegalsFree Valuation
- Get quotes
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Compare First Direct mortgages
Which type of mortgage you apply for will depend on your borrowing needs and personal financial circumstances. Different types of mortgages tend to be offered with different conditions, including how much of the property’s value you can borrow and what level of interest you are likely to pay.
First Time Buyer mortgages
You may be able to borrow up to 90% of your property’s value with a First Direct mortgage, which can make buying a first home more affordable for people struggling to get together a deposit. Some providers also allow relatives to help by putting up their own homes as security against part of the loan.
Remortgaging with First Direct
Switching your mortgage can save you money or help you unlock more equity from your home. If you think you can get a better deal from First Direct than you have on your existing mortgage, you may be able to reduce your monthly payments. You may also be able to borrow more, allowing you to pay off your current mortgage and end up with a lump sum left over.
Second charge mortgages
If you already have a good deal on your mortgage, you may not want to remortgage to unlock extra funds for home improvements or other purposes. Instead, you may want to consider taking out a separate secured loan in addition to your existing mortgage, allowing you to release extra equity without changing mortgage providers. This type of separate secured loan is often called a second charge mortgage.
Loan to value ratio
Loan to value (LTV) ratio is one of the most important criteria that lenders use when assessing how much you can afford to borrow. It is based on a calculation of the amount you want to borrow versus the market value of the property you wish to borrow against.
So, if you want to take out a £50,000 mortgage on a house with a market value of £100,000, you would have an LTV of 50%. If you subsequently wanted to take out an additional secured loan for a further £25,000, your LTV would increase to 75% as both new and existing debt are factored in.
In general, mortgage providers will be inclined to offer more attractive interest rates on properties with a lower LTV.
Find the best deals on mortgage rates
Our mortgage calculator can make it much faster and simpler to find the best value deals from across the mortgage industry. It matches your specific requirements with our pick of the top offers from various providers, taking most of the hard work out of the equation.
To use the mortgage calculator, simply head to the top of the page and enter some basic information, including the amount you wish to borrow, how long you want to repay over and your reason for borrowing. The calculator will then show you the best deals that match your query.
Independent Mortgage Advice
Remortgaging is particularly popular at the moment as interest rates are low.
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Whether it will be a good idea for you to remortgage depends on a number of factors, including your goals and your personal circumstances.
However, in general, if interest rates are lower than you are currently paying on your mortgage, it may be a good time to remortgage.
If interest rate are higher than you are currently paying, it may be better to look at other options, such as a second mortgage or a personal loan (if you aim is to borrow more).
If you are not sure whether now is the right time to remortgage, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice on your lender options.