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Nationwide trims rates as Accord ups cashback on buy-to-let deals

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  • 19/11/2018
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Nationwide trims rates as Accord ups cashback on buy-to-let deals
Nationwide is changing select mortgage rates and Accord is increasing cashback on buy-to-let deals, as lenders compete for borrowers.  

 

Rates on select three and five-year Nationwide fixes will be cut by up to 0.25% from November 20.

The lender is to offer a five-year fix at 60% loan to value (LTV) at 1.94% with a £999 fee, and at 2.14% with no fee.

Borrowers with a deposit of only 10% will be able to fix for five years at 2.39%, while rates on three-year deals have been trimmed by 0.1% at 85% LTV

At the same time, select two-year fixed rates have edged up by 0.05%.

Henry Jordan, Nationwide’s director of mortgages (pictured), said: “By improving the competitiveness of our three-year and five-year fixed rate products, we are aiming to support those mortgage customers looking for longer-term payment security.”

 

Accord increases buy-to-let cashback

Landlords are being offered an extra £250 in cashback on select Accord buy-to-let mortgages.

The perk has been added to certain two-year-fixed 60% and 65% LTV mortgages across purchase and remortgage ranges.

It means products across the range will now offer £250 cashback and nine will come with £500 on completion.

Chris Maggs, commercial manager at Accord Buy To Let, said: “Our range of products are available to first-time landlords, existing landlords and customers looking to re-finance their existing residential mortgage on a buy-to-let basis where they intend to purchase a new residential property.”

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