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Accord and Clydesdale make rate cuts; Precise launches HTB exclusive with L&G – round-up

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  • 13/09/2019
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Accord Mortgages and Clydesdale Bank have reduced rates across fixed-term products while Precise Mortgages has launched a help to buy deal exclusively available to Legal & General Mortgage Club members.

Accord reduces rates

Accord Mortgages has reduced rates across its house purchase and remortgage product range. 

Highlights of the two-year fixed rate remortgage range include:  

  • 1.70 per cent, down from 1.92 per cent, at 75 per cent loan to value (LTV) with £250 cashback, free valuation, free legals and a £495 product fee 
  • 1.99 per cent, down from 2.20 per cent, at 80 per cent LTV with £250 cashback, free legals, free valuation and no product fee 
  • 2.09 per cent, down from 2.30 per cent, at 85 per cent LTV with £500 cashback, free valuation and no product fee 

Those looking to purchase can benefit from reductions of up to 0.32 per cent. Buyers with a 25 per cent deposit can get a five-year fixed rate at 1.90 per cent with £500 cashback, free valuation and £495 product fee.

Jemma Anderson, product manager at Accord Mortgages, said: “In such a volatile market, it’s understandable that clients, either starting on the property ladder or approaching the end of their existing term, may be undecided as to what to do next. 

“Brokers are best placed to offer advice and with rate reductions, a variety of term lengths and enhanced benefits like cashback and free valuation, there are now even more options available when trying to find the right product.”  

 

Clydesdale Bank Intermediaries

Clydesdale Bank Intermediaries is reducing rates by up to 0.35 per cent across its residential five-year fixed rate mortgage range.  

Its five-year fixed to 75 per cent LTV now has a rate of 2.19 per cent, previously 2.34 per cent, while its five-year fixed to 80 per cent LTV has been reduced from 2.44 per cent to 2.24 per cent.

Products are available for loan sizes between £80,000 to £1,000,000, except for the 90 per cent LTV product which is available for loan sizes between £80,000 to £499,999. 

Product fees are £999 for loan sizes up to £499,999, and £1,499 for loan sizes of £500,000 and over, except for the fee offer product which benefits from no product fee. 

All products are available for purchase and remortgage applications, with remortgage applications benefiting from a remortgage switching package free valuation and standard legal fees.  

The fee offer product also benefits from one free valuation for purchase applications on properties worth £2m or less. 

Fred Sharp, head of mortgage distribution, said: “Longer term fixed rates are becoming more popular, so we are improving our five year range to ensure our broker partners are able to offer their clients who require certainty of payments a competitive range of products.” 

 

L&G Mortgage Club members get Precise exclusive 

Legal & General Mortgage Club has agreed an exclusive help to buy product for members, available through Precise Mortgages in England. 

Members can access a two-year fixed rate Help to Buy product, available at 75 per cent LTV.  

With a rate of 3.94 per cent, the product has a minimum loan value of £25,000 and a maximum value of £450,000 with fees of £995. There is also a refund valuation fee available of up to £630 which is payable on completion.  

The product is aimed at helping first-time buyers with a small deposit get onto the property ladder. This includes the need for only one sustainability check and one year of self-employed trading. 

Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “With so many first-time buyers taking advantage of the Help to Buy scheme, having specifically designed products from specialist lenders with carefully thought out features such as the fixed, and partially refundable, valuation fee on this exclusive is crucial.  

“The team at Precise Mortgages have a dedicated new build priority processing team to support customers and their development of products like this is helping to improve credit availability for those making their first moves onto the property ladder.” 

 

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