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NatWest and Accord cut rates as Ipswich BS tweaks expat offering

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  • 18/07/2019
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NatWest and Accord cut rates as Ipswich BS tweaks expat offering
NatWest, Accord Mortgages and Ipswich Building Society have announced a series of rate cuts, changes to their product ranges and lending criteria.

 

NatWest has revealed a series of rate cuts across its product range, including two broker exclusives which will be slashed by 84 basis points and another with a 55 basis point cut.

The lender is also launching a two-year 75 per cent loan to value (LTV) no fee purchase exclusive with cash back and a free valuation, and two-year 60-75 per cent LTV fee exclusives for remortgaging.

Its broker exclusive buy-to-let range will see rate reduction of three basis points on the five-year 60 per cent LTV remortgage product.

The core range will also see a wide range of cuts of between three and five basis points.

Head of sales Mark Bullard said: “We have taken this opportunity to continue to reaffirm our commitment to the market by offering reductions on our two- and five-year deals across our exclusive and core ranges and across a multitude of LTV bandings.”

 

Accord

Accord is introducing a new seven-year fixed rate deal, as well as cutting rates on selected five‒ and ten-year fixed deals.

The seven-year fixed rate is available up to 75 per cent LTV, and comes with an interest rate of 2.34 per cent. It is available for both purchases and remortgages and has a completion fee of £495.

Certain five-year deals are being reduced by up to 0.02 per cent, while it’s ten-year fixed rate deal is having its rate cut to 2.4 per cent. It comes with a £495 completion fee and free standard valuation.

In addition, the cashback offered on certain remortgages at 95 per cent LTV is being increased by an additional £250.

Jemma Anderson (pictured), product manager at Accord, said: “With continued economic uncertainty we know from feedback that some borrowers are looking to fix their home loan for longer, so we’ve amended our mortgage range to give brokers and their clients more competitive choice.”

 

Ipswich adjusts expat criteria

Elsewhere Ipswich Building Society has rejigged its criteria for expat borrowers, so that it will now consider applications from borrowers who are paid in a selected number of foreign currencies.

These include the following:

  • Euro
  • US Dollar
  • Canadian Dollar
  • Singapore Dollar
  • Hong Kong Dollar
  • Swiss Franc
  • Norwegian Krone
  • UAE Dirham
  • Kuwaiti Dinar
  • Qatari Riyal

Alongside the criteria change, the mutual has cut rates on its expat deals, with deals now available up to 80 per cent LTV.

Richard Norrington, chief executive officer at Ipswich, said the lender recognised that many expats wanted to retain a “tangible link to home” by invested in a UK property.

He added: “We’re delighted to be able to extend our expat offering to now include residential deals for those paid in a foreign currency, in order to create wider choices for those currently living abroad.”

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