Accord Mortgages cuts rates and adds cashback; Platform curbs rates on high LTVs

Accord Mortgages cuts rates and adds cashback; Platform curbs rates on high LTVs

 

The lender has reduced the rate of its two-year fixed rate at 85 per cent LTV from 2.35 per cent to 2.28 per cent. The rate for its five-year fixed at the same tier has fallen from 2.64 per cent to 2.57 per cent.

Accord has also brought in £1,000 cashback for its two-year fixed mortgage at 80 per cent LTV, which has a rate of 1.97 per cent, and a five-year fixed at the same LTV with a rate of 2.16 per cent.

All the above products come with a £995 fee and free standard valuation.

The lender has also cut rates by up to 0.14 per cent on certain products in the range. This includes a five-year fixed remortgage at 85 per cent LTV, where the rate has been decreased from 2.75 per cent to 2.61 per cent.

The product comes with a £495 fee, £500 cashback and free standard valuation.

Accord Mortgages’ mortgage manager Jemma Anderson (pictured) said: “We’ve refreshed the range to improve a number of selected products at 80 and 85 per cent LTV and hope the combination of reduced rates and increased cashback will create more choices to meet varying customer needs.”

 

Platform reduces rates on high LTV products

The intermediary mortgage arm of The Co-operative Bank, Platform, has reduced the rates on select higher LTV products to cater for first-time buyers and homemovers.

The rate for its two-year fixed product at 90 per cent LTV has been cut by 0.26 per cent to 2.94 per cent.

The lender’s two-year fixed at 85 per cent LTV has been reduced to 2.58 per cent. The rate for its equivalent product with a £999 fee has fallen to 2.18 per cent.

All products come with a £250 cashback.

The Co-operative Bank’s mortgage distribution director, Fred Sharp, said: “Although the tapering of stamp duty has now come into effect in England, being able to make a lower monthly repayment for their mortgage with a reduced interest rate in place will make home ownership more achievable for many first-time buyers.

“We are not only offering extremely competitive mortgage deals in the high LTV lending space but we also continue to offer select high LTV products with a £0 fee and £1000 cashback.”