You are here: Home - News -

TSB extends mortgage offers; Leeds BS and Accord make rate changes – round-up

by:
  • 01/05/2020
  • 0
TSB extends mortgage offers; Leeds BS and Accord make rate changes – round-up
TSB has expanded its products up to 80 per cent loan to value (LTV) and pledged to extend mortgage offers to six months for borrowers who are yet to exchange.

 

It is extending six-month mortgage offers by three months for borrowers who were yet to exchange on contracts but unable to complete.  

Purchase and remortgage customers will be eligible for the extension. 

This must be done through brokers who are required to complete a Coronavirus – Income Impact Form and confirm whether the borrower’s financial circumstances have been affected by the pandemic. 

TSB has also introduced new products and cut rates on some existing deals.

It has launched three-year fixed remortgages at 80 per cent LTV with a £995 fee and fee-free equivalent with rates ranging from 1.44 per cent to 1.89 per cent. 

There are also two- and five-year fixed remortgage products at 0-75 per cent LTV with a £1,495 fee. The two-year has a rate of 1.14 per cent up to 60 per cent LTV, and 1.19 per cent at up to 75 per cent LTV. 

The five-year fixed remortgages up to 60 per cent LTV have an initial rate of 1.34 per cent and 1.54 per cent at 60-75 per cent LTV. 

Two-year fixed purchase mortgages up to 60 per cent LTV have had rates cut by 0.20 per cent, while corresponding remortgages have had rate reductions of 0.10 per cent. 

All product changes are effective from 1 May. 

 

Accord ups rates on high LTVs 

Accord has increased the rates on mortgages at 90 and 95 per cent LTV by up to 18 basis points as of 1 May. 

The lender confirmed that 15 of its high LTV products would see a rate increase. It also launched a five-year fixed fee-free 95 per cent LTV product with a rate of 3.55 per cent. 

To allow applications to progress amid social distancing rules, Accord will also temporarily allow borrowers to digitally sign documents if they are seeking an additional loan or porting a residential mortgage. 

 

Leeds BS makes rate changes 

Leeds Building Society has reduced rates on two-year fixed mortgages by up to 0.20 per cent as of today. 

The society’s two-year fix at 75 per cent LTV with a £1,999 fee has seen its rate cut from 1.34 per cent to 1.24 per cent while the £999 fee equivalent has been cut from 1.55 per cent to 1.39 per cent. 

The fee-free offering at this tier has seen a rate change from 1.89 per cent to 1.70 per cent. 

Two-year fixed buy to let products at 60 and 70 per cent LTV have also seen rate reductions by up to 20 basis points. 

Leeds BS has introduced a two-year fixed fee-free deal at 80 per cent LTV with a rate of 1.85 per cent to replace an existing offer which had a rate of 1.69 per cent and a £999 fee.

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
Nationwide
House prices tough to gauge during coronavirus, Nationwide warns

House price growth reached its highest level since February 2017 before the coronavirus outbreak, but values could be difficult to...

Close