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Accord, Virgin Money, Principality and Together cut rates – round-up

  • 16/03/2018
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Accord, Virgin Money, Principality and Together cut rates – round-up
Accord, Virgin Money, Principality and Together have all cut interest rates on several products, while Together has also tweaked its portfolio buy-to-let case handling process.


Accord, which is part of Yorkshire Building Society, has reduced rates on 21 mortgages at a range of loans-to-value (LTVs) by up to 0.23%.

For first-time buyers or those with a small deposit it has introduced a fee-free 3.99% two-year fixed rate mortgage at 95% LTV and halved the product fee on its 3.65% two-year 95% LTV fix to £495.

Remortgage products include a 1.70% two-year fix at 75% LTV with a £495 fee, or a two-year fee-free 80% LTV option at 2.11%. Both come with £250 cashback and free valuation and legals.

Accord mortgage manager Jemma Anderson (pictured) said: “We’ve received feedback that brokers placing cases with us are having positive experiences with our free legal service partners, which is pleasing.

“Therefore, to maximise keeping costs low for borrowers we’ve tried to include a hat-trick of incentives on 95% of this new range – including free legals,” she added.


Virgin Money

Virgin Money has launched a new £750 cashback incentive on its intermediary exclusive buy-to-let range.

This is available for a limited time only to support landlords coming to the end of their existing deals this spring.

Deals include a two-year fix at 60% LTV at 1.39% with £1,995 fee and £750 cashback, and five-year fixed rate at 60% LTV at 2.12% with a £1,995 fee with £750 cashback.

The range of new 90% LTV residential mortgage products have also been launched with reduced rates including a two-year fix at 90% LTV at 2.25% with no product fee, and a three-year fix at 90% LTV at 2.18% with a £995 fee.

Virgin Money director of mortgages Andrew Asaam said: “We have launched a market-leading £750 cashback incentive to help landlords with costs and the new residential products will provide further support and choice for customers with smaller deposits.”



Principality Building Society has cut rates across four of its fixed two-year residential mortgage products and two of its two-year buy-to-let mortgage products.

Examples of the new deals on the residential line include a two-year fix at 65% LTV reduced by 0.15% to 1.85%, and a two-year fix at 85% reduced by 0.15% to 2.10%.

For buy-to-let borrowers there is a two-year fix at 60% reduced by 0.25% to 1.80%.

Principality acquisition product manager Ross Williams noted that with speculation of a rate rise and increased swap rates, many lenders were having to follow the market trajectory of increasing rates.

“Of late we have seen a lack of movement in pricing of two-year fixed products in the market,” he said.

“In order to remain competitive, we are reducing our two-year fixed residential products between 65% to 85% LTV.”



Together has lowered rates on its buy-to-let mortgages and simplified its process for brokers submitting portfolio landlord cases.

The specialist lender has cut rates for its prime capital repayment customers at under 65% LTV to 5.99% – its lowest ever. For those with higher LTVs it has cut the rate to 6.49%.

There have also been reductions for customers on interest-only repayments, with a new rate of 6.49% below 65% LTV, and 6.99% for higher than 65% LTVs.

The lender has increased LTVs to 60% for loans up to £2m.

Together has also simplified and improved its processes for brokers submitting portfolio cases.

The lender said that following feedback from trusted intermediaries it has moved all portfolio landlord cases onto its standard product.

Together Commercial chief executive officer Marc Goldberg said: “We’ve listened to the brokers we work closely alongside and, using our philosophy of common sense lending, have lowered our rates and simplified the process for intermediaries submitting portfolio landlord cases.

“This will create a more straightforward mortgage process and give brokers the confidence that the application will go through with no issues.”

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