Investec Private Banking cut its rates by up to 0.6%, and lowered lifetime trackers by 0.25%. Highlights from the range include a five-year fix at 2.39% available up to 60% loan-to-value, a lifetime tracker at 2.24% for borrowers with a 30% deposit and a three-year fixed rate of 2.89% up to 85% LTV. The bank has also reduced its variable rate to 3.74%.
Newcastle for Intermediaries refreshed its self-employed mortgage range, aimed at borrowers who have been trading for two years and under. The lender also introduced two five-year fixed products.
The first product, fixed at 2.70% is available at a maximum LTV of 85%. It has no reservation or completion fees. The second is a five-year product available at a fixed rate of 3.30% available up to 90% LTV.
Accord has targeted its rate cuts at remortgage customers by shaving rates by 0.15% across its products ranging from 65% to 85% LTV.
Clydesdale moved yesterday to pass on the Bank of England’s rate cut of 0.25% to its customers. Its standard variable rate (SVR) and offset variable rate have reduced to 4.70% and its offset variable investment housing loan rate has reduced to 5.10% – all reflecting the 0.25% reduction.
Selected fixed rate products have been repriced up to 95% LTV. First-time buyers with a 5% deposit can now access a rate of 3.69% fixed for two years. Interest-only customers can choose from a rate of 1.89% or 1.99% for 75% and 80% LTVs respectively, also fixed for two years.
Leeds Building Society launched a fee-assisted new-build product fixed for two and a half years available up to 90% priced at 3.09% with an arrangement fee of £199.
Virgin Money has also updated its mortgage range with a number of rate reductions on selected products across its residential, buy-to-let and Help-to-Buy product ranges.
