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Accord and Nationwide raise rates on low LTV deals and PTs

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  • 30/09/2020
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Accord and Nationwide raise rates on low LTV deals and PTs
Accord and Nationwide Building Society have made a host of changes to interest rates in their residential mortgage ranges.

 

Nationwide is increasing rates on low loan to value (LTV) new business deals and on high LTV product transfers.

The changes affect selected two-, three- and five-year fixed rates and two-year tracker rates by up to 0.15 per cent.

Fourteen homemover and remortgage products have seen rates rise – all in the 60 per cent LTV bracket.

Meanwhile, 13 product transfer mortgages have been increased, eight of which are in the 90 per cent LTV range.

 

Accord

Accord is also overhauling its product transfer and additional loan range – with changes being applied from 1 October.

The lender is launching fee-free self-cert products in its five-year fix range to support existing customers who took out self-cert products more than a decade ago.

Mortgage Solutions understands this accounts for around one per cent of the lender’s back book and is continuing to fall.

Accord is also making rate cuts and increases to its product transfers and additional loans.

Rates on its 100 per cent and over 100 per cent LTV products are being cut by up to 0.7 per cent, while the 75 per cent LTV, 50 per cent overpayment product is reducing by 0.04 per cent.

However, the lender is also increasing rates on 34 products by up to 0.35 per cent in the 75, 80, 85 and 90 per cent LTV ranges.

 

 

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