First Direct has today introduced a pair of fixed rate mortgages for borrowers with a 35% deposit or equity.

The deals are a 1.39% two-year fixed rate and a 2.19% three-year fixed rate, both with a fee of £1950.

In addition, First Direct has cut a number of rates across its standard mortgage range.

Andrew Forbes, head of products at First Direct, said: “There’s healthy competition in the mortgage market at the moment but it means that there’s an eye watering number of offers available.

“Our new rates will help borrowers save time and come to us knowing they can choose a leading rate in the market.”