The rate changes will be effective from 6 July, with two-year fixes seeing the largest reductions of up to 0.3% and three-year fixed rates cut by up to 0.29%. The lender’s five-year fixed rates will also be lowered by as much as 0.21%.
Further, Accord Mortgages has reduced the minimum loan size on selected products up to 75% LTV from £50,000 to £30,000 and relaunched deals at 65% LTV, with rates from 4.47%, and 80% LTVs starting from 4.54%.
Its range now includes a two-year fix up to 95% LTV for house purchase, priced at 6.39% down from 6.69%, with a £495 fee and standard valuation. There is also a two-year fixed remortgage at 80% LTV, with a rate of 4.72%, down from 4.9%, with a £1,495 fee, standard valuation and £500 cashback.
The fee-free five-year fixed £5k Deposit Mortgage for first-time buyers with a £5,000 deposit on a home worth up to £500,000 has been cut from 6.64% to 6.44%, with a standard valuation and £300 cashback.
Jeremy Duncombe, managing director of Accord Mortgages, said: “We’re so pleased to be able to reduce rates on a wide variety of product options, including our innovative £5k Deposit Mortgage, which was specifically designed to offer borrowers with just a £5,000 deposit the chance to fulfil their homeownership dreams. We’re also offering more flexibility and choice for those with smaller borrowing requirements by reducing our minimum loan size.”
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HSBC cuts rates
HSBC has reduced residential and buy-to-let (BTL) rates, effective from 3 July.
This will apply to rates for existing customers switching or borrowing more, across selected two-, three- and five-year fixes up to 90% LTV, while pricing for first-time buyers has also been lowered.
Reductions have also been made to selected homemover, remortgage, BTL purchase, BTL remortgage and international borrower rates.
