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Nationwide and Accord reduce rates as Leeds introduces cashback – round-up

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  • 20/11/2019
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Nationwide and Accord reduce rates as Leeds introduces cashback – round-up
Nationwide has reduced the rates of its ten-year fixed mortgage by up to 1.1 per cent while Accord has made changes to rates within its 80 per cent loan to value (LTV) range.

 

Nationwide 

Nationwide Building Society has reduced rates on selected two, three and five-year fixed rate mortgages available up to 60 per cent LTV by up to 0.15 per cent, as well as reducing 10-year fixed rates by up to 1.1 per cent. 

Rates for the two-year fixed products available up to 60 per cent LTV have been cut by 0.1 per cent to 1.79 per cent with no fee. 

On three-year fixed products up to 60 per cent LTV, rates have been reduced by 0.15 per cent to 1.79 per cent with no fee (and by 0.1 per cent to 1.54 per cent with a £999 fee). 

The five-year fixed rates available up to 60 per cent LTV have been reduced by 0.15 per cent to 1.79 per cent with no fee and to 1.59 per cent with a £999 fee. 

Rates on Nationwide’s ten-year fixed rate products for up to 60 per cent LTV are down 0.35 per cent to 2.44 per cent with no fee (2.34 per cent with a £999 fee); its 60-75 per cent LTV deal has been reduced by 0.20 per cent to 2.59 per cent with no fee (2.49 per cent with a £999 fee). 

Furthermore, its 75-85 per cent LTV deal has been cut by 1.1 per cent to 2.89 per cent with no fee (2.79 per cent with a £999 fee) while its 85-90 per cent LTV product has been reduced by 0.65 per cent to 3.34 per cent with no fee (3.24 per cent with a £999 fee). 

The rate reductions on the ten-year fixed rate products are also applicable to Nationwide’s switcher range and rates on other products remain unchanged. 

Henry Jordan, Nationwide’s director of mortgages, said: “Our range of fixed rate mortgages have proved particularly popular as people seek the security of fixing their mortgage payments for the future, and as a result we’re focused on keeping our rates as competitive as possible.” 

 

Accord 

Accord Buy to Let has reduced rates on a selection of its 80 per cent LTV range. 

The updated products include its two-year fixed rate at 3.31 per cent, down from 3.36 per cent for both house purchase and remortgage clients, with a £950 product fee, £500 cash back and free valuation. 

Its five-year fixed rate is now 3.85 per cent from 3.90 per cent for both house purchase and remortgage clients, with no product fee, £500 cashback and free valuation and its five-year fixed rate now has a rate of 3.63 per cent – was 3.68 per cent – for both house purchase and remortgage clients, with a £950 product fee, £500 cashback and free valuation. 

Within its remortgage offering its two-year fixed rate at 3.31 per cent has been reduced from 3.36 per cent and comes with a £950 product fee, £250 cashback, free standard remortgage legal service and free valuation. 

Its five-year fixed rate at 3.85 per cent is down from 3.90 per cent, has no product fee, £250 cashback, free standard remortgage legal service and free valuation while its five-year fixed rate stands at 3.63 per cent down from 3.68 per cent with a £950 product fee, £250 cashback, free standard remortgage legal service and free valuation. 

Simon Garner, product manager at Accord Buy to Let, said: “We know the present uncertainty in the market is impacting decisions, so following recent improvements to our criteria, we’re continually reviewing the range to offer landlords the most competitive rates.” 

 

Leeds BS 

Leeds Building Society has launched two new cashback mortgages with no product fee after research from the society found borrowers under 34 were likely to use the money for removal and storage when moving. 

Its 2.04 per cent two-year fixed rate up to 75 per cent LTV comes with £500 cashback while its 2.27 per cent two-year fixed rate up to 85 per cent LTV has £500 cashback. 

As well as cashback, the deals include a free standard valuation and fees assisted legal services. 

Matt Bartle (pictured), director of products at Leeds Building Society, said: “Everyone’s requirements will be individual to them, which is why we offer different combinations of fees, features and incentives across our mortgage product range. 

“Our new cashback products include fees assisted legal services and a free valuation, meaning borrowers can concentrate on using their cashback to cover other expenses.” 

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