Accord Mortgages’ reductions apply to its residential product transfer and additional loan ranges. All three-year fixed rates will be reduced by up to 0.37%, while five-year fixed rates will be reduced by up to 0.05%.
Other rate reductions include a 0.2% cut to two-year fixed rates up to 90% loan to value (LTV) and a 0.15% cut to two-year fixes up to 80% LTV. The cuts will be applied on Thursday 27 August.
TSB lowers rates
Meanwhile, TSB has cut its two-, three-, and five-year fixed rates for house purchase by up to 0.2% and three-year fixed remortgage rates by 0.15%.
According to Moneyfacts, the average two-year fixed residential mortgage rate is currently 5.59%, while the average five-year fixed residential mortgage rate today is 5.63%.
What mortgage and protection advisers should take from the FCA’s AI stance
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