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Rates race continues as Accord, Gatehouse and Nationwide cut interest on selected products

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  • 25/09/2019
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Rates race continues as Accord, Gatehouse and Nationwide cut interest on selected products
Accord, Gatehouse Bank and Nationwide have reduced rates across various residential purchase, switcher, remortgage, Help to Buy and buy to let products.

 

Accord has cut rates on its Help to Buy and residential products.

In the Help to Buy range, five-year fixed rates were reduced to 1.93 per cent, down from 2.09 per cent, at 60 per cent loan to value (LTV), and were cut to 1.98 per cent, down from 2.15 per cent, at 75 per cent LTV. Both offers come with £500 cash back, free valuation and a £995 product fee.

In residential, rates were cut for purchase and remortgage products in the 60 per cent to 85 per cent LTV bracket.

At 75 per cent LTV, the five-year fixed rate was cut to 1.83 per cent, down from 1.89 per cent, and the two-year fix was reduced to 1.68 per cent, down from 1.72 per cent.

At 80 per cent LTV, the five-year fix was cut to 2.06 per cent, down from 2.12 per cent.

“Since launching our Help to Buy products last September, we’ve given more buyers a chance to secure a home that may not have been affordable otherwise and now there’s an even better selection of products. And for those with a larger deposit or equity stake, we’re improving rates across terms and LTVs,” said Jemma Anderson, product manager at Accord Mortgages (pictured).

 

Gatehouse Bank reduces BTL fixes

Gatehouse Bank cut rates on its buy to let (BTL) range for two- and five-year fixes.

For UK residents, the two-year fix was cut to 3.29 per cent and the five-year fix to 3.89 per cent, up to 80 per cent loan to value (LTV).

For expats, the two-year fixed rate was reduced to 3.89 per cent and the five-year to 4.45 per cent, both up to 75 per cent LTV.

For international residents, the two-year fix was cut to 4.14 per cent and the five-year to 4.69 per cent.

“We’re delighted to reduce rates across our BTL range. Our human approach to applications, whereby a computer does not have the final say on whether we approve someone or not, has proved particularly popular with the UK expat community,” said Paul Stockwell, chief commercial officer, Gatehouse Bank.

 

Nationwide selected cuts

Nationwide cut selected two-, three- and five-year fixed rates, across mortgages at 90 per cent LTV and its shared equity and switcher ranges.

At 90 per cent LTV, the two-year fixed rate was cut to 1.89 per cent and the five-year fix was reduced to 2.29 per cent, both with a £999 fee.

The shared equity range at 75 per cent LTV saw two-year fixes cut to 1.54 per cent and the five-year rate down to 1.84 per cent.

And in the switcher range, rates were cut across a selection of LTVs and terms, from a 60 per cent LTV two-year fix at 1.29 per cent to a 90 per cent LTV five-year fix at 2.29 per cent.

Nationwide director of mortgages Henry Jordan said: “We’re aiming to support customers with large or small deposits who want payment security. First-time buyers will get £500 cash back and those remortgaging to us can choose between cash back and free legals.” 

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