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Leeds cuts fixed rates; Accord bolsters landlord and resi. mortgage range

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  • 12/01/2015
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Leeds cuts fixed rates; Accord bolsters landlord and resi. mortgage range
Leeds Building Society is set to cut rates on some of its fixed and offset mortgage rates, joining the raft of lenders sweetening mortgage deals right now.

The mutual is offering a 1.84% two-year fixed rate available up to 65% LTV (loan to value) and a 3.59% five year fixed rate available up to 85% LTV from tomorrow.

The five-year deal has no fee and is offered with a free standard valuation covering properties priced up to £500,000 and fees assisted legal services for standard remortgages.

The mutual is also offering a new range of five-year fixed rate offset mortgages from Wednesday, including a 2.99% deal available up to 75% LTV.

“As the chances of a base rate rise have become less likely, we’ve been seeing greater demand for longer term fixed rate products and our new five year deals are in response to this,” said Martin Richardson, Leeds Building Society’s General Manager – Business Development.

Meanwhile, Accord Buy-To-Let has launched a range for both landlords looking to expand a portfolio or remortgage.

Products are available at up to 75%, giving landlords alternative interest rate options dependent on the size of deposit available.

The two-year fixed rate range includes a 2.79% fixed rate mortgage at 60% LTV with a £2,495 product fee, free standard valuation free legal service or £300 cashback on completion.

The three-year fixed rate highlights include a 3.09% fixed rate mortgage at 65% LTV with a £2,495 product fee and £500 cashback on completion. The five-year range rises to 3.94% at 75% LTV with a £2,495 product fee, free standard valuation and free legal service or £300 cashback in completion.

Chris Maggs, commercial manager at Accord Buy-To-Let, said: “We are confident they will prove popular to brokers and borrowers thanks to their competitive rates and product incentives.”

The residential arm, Accord Mortgages, has also cut its residential five-year fixed rate range by up to 0.20% with a £250 cashback on completion for selected products.

There are also reductions of 0.10% on selected mortgages at 65% loan-to-value (LTV), with rates including a 2.69% five-year fixed rate with an £845 product fee.

At 75% LTV, customers are being offered a 2.79% five-year fixed rate with an £845 product fee.

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