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NatWest and Accord set to reduce mortgage and remortgage rates

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  • 24/10/2016
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NatWest and Accord set to reduce mortgage and remortgage rates
NatWest Intermediary Solutions and Accord Mortgages are set to make changes to their existing mortgage and remortgage ranges, including options for first-time buyers and cashback incentives, from tomorrow.

NatWest’s discounted rates cover loan-to-values (LTV) from 60 to 95%. With highlights including a two-year fixed-rate purchase mortgage for first-time buyers with an LTV of 80% priced at 2.31%, which is a reduction of 41 bps from 2.72%.

All two-year and five-year fixed-rate purchase mortgages for first-time buyers come with £500 cashback.

For its three-year fixed-rate remortgage range, products carry a rate of 1.68% up to 60% LTV or a rate of 1.88% up to 70% LTV and both come with a £995 product fee.

Mark Bullard, head of sales at NatWest Intermediary Solutions, said the rate reductions reflected a continued appetite to accept high volumes of mortgage applications.

Accord Mortgages, which is part of Yorkshire Building Society Group, has announced reduced rates on selected mortgages by up to 0.08% for customers with 35% and 10% deposits.

It now offers remortgaging customers a two-year fix rate at 1.38% with a 75% LTV and a £995 product fee.

Alternatively, remortgage customers looking longer term can opt for a five-year fix which carries a rate of 2.13% at 75% LTV, also with a £995 product fee.

Both Accord Mortgages products come with a choice of either £250 cashback on completion and free standard valuation or free legal fees and free standard valuation.

David Robinson, national intermediary sales manager at Accord Mortgages, said he hopes to minimise the upfront costs of purchasing a mortgage for borrowers and that the incentive of  £250 cashback will help with this.

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