First Direct has cut a number of its fixed rate mortgages.

The changes include:

• 65% LTV – 2.89% 10-year fixed rate of 2.89% with £950 fee
• 65% LTV – 2.28% five-year fixed rate with £1,450 fee
• 65% LTV – 1.89% three-year fixed rate with £1,450 fee
• 85% LTV – 2.49% two-year fixed rate with £950 fee

Borrowers will also have the flexibility to make unlimited overpayments or lump sum payments throughout their fixed rate period without any penalties.

Andrew Forbes, head of products at First Direct, said: “Demand for fixed rates continues and we know that borrowers are looking for competitive rates that give them an element of flexibility.

“Our new deals allow customers to take advantage of the market’s lowest rates and protect themselves against future rate increases.”