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Nationwide and Accord cut mortgage rates

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  • 05/05/2020
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Nationwide and Accord cut mortgage rates
Nationwide Building Society and Accord have both reduced rates on select mortgage deals.

 

Rates have been snipped by up to 0.35 per cent on select Nationwide products, and the lender has also launched a two-year tracker at 60 per cent loan to value (LTV) for remortgages.

The new tracker has a rate of 1.29 per cent with a £1,499 fee.

Nationwide is also now offering two-year fixed rates of 1.54 per cent up to 80 per cent LTV with a £999 fee, and 1.79 per cent for five-year fixes.

Nationwide director of mortgages Henry Jordan (pictured), said: “The mortgage market remains really competitive and many borrowers continue to like the security of fixing their mortgage repayments, especially in time of economic uncertainty.

“These reductions demonstrate our commitment to offering competitive rates across the range of LTVs supporting borrowers no matter how much deposit they have.”

 

Accord snips rates

At the same time, Accord is reducing rates between 75 and 85 per cent LTV

It means the lender now has a two-year fixed rate at 1.75 per cent up to 75 per cent LTV and a five-year fixed rate at 1.86 per cent, both come with a £495 fee, £500 cashback and free valuation.

Accord is also reintroducing cashback of up to £500 on remortgage products at 80 per cent and 85 per cent LTV.

Jemma Anderson, Accord product manager, said: “We’ve been looking at ways in which we can offer more support to brokers while the current lockdown is in place, so we’ve reduced our rates on selected house purchase products.

“We know there is a huge focus on clients who need to remortgage, so we’ve improved the incentives on some of our higher LTV range to offer a more competitive choice of deals.”

 

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