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Accord and Halifax increase high LTV rates

  • 25/09/2020
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Accord and Halifax increase high LTV rates
Accord Mortgages and Halifax have increased interest rates on high loan to value (LTV) products as part of wider re-pricing, while Scottish Widows Bank has also raised rates.


Accord has made 44 rate changes to its residential product suite ranging from a 0.27 per cent decrease up to a 0.42 per cent increase.

Higher LTV deals have seen the most significant rises – 85 per cent LTV rates have been increased by up to 0.42 per cent and 80 per cent LTV deals by up to 0.32 per cent.

The product with the highest increase is the five-year fixed offset remortgage product at 85 per cent LTV which is now 3.28 per cent, it has a £495 completion fee and £250 cashback.

However, the lender has also made significant rate cuts to its longer-term product range with seven-, 10- and 15-year fixes reduced by up to 0.27 per cent.

The 15-year fixed remortgage and purchase product at 75% LTV has been cut by 0.27 per cent and is now 2.49 per cent with a £495 completion fee.

Accord product manager Jemma Anderson (pictured) said: “As part of our regular range review, we withdrew all products on 24th September at 8pm and replaced them at 9am today with end dates extended to February 2021.

“As part of this change, longer term rates of seven-, 10- and 15-years have been reduced by up to 27bps and selected rates increased between 0.01 per cent and 0.42 per cent. We are confident our range remains competitive and our service levels will be maintained.”


Halifax and Scottish Widows Bank

Halifax has also overhauled its remortgage product range to help maintain service levels.

The changes include rate reductions of up to 0.35 per cent and increases of up to 0.37 per cent.

Additionally, the lender announced a rate increase of 0.27 per cent on the two-year £1,499 fee 80 per cent LTV homemover and first-time buyer mortgages.

A Halifax spokesperson said: “We are constantly reviewing our offering and listening to broker feedback as part of our commitment to the intermediary market.

“These changes are designed to help support our customers in the current environment.”

Meanwhile, Scottish Widows Bank is making selected increases on two- and five-year 70 per cent and 75 per cent LTV products.



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