Deals include two-year fixed rate remortgage deal up to 60 per cent LTV priced at 5.49 per cent, and its two-year base tracker up to 60 per cent LTV is also set at 5.49 per cent.
Both come with early repayments charges of two per cent in the first year and then one per cent in the second.
They both have no product fees, free legals if the mutual’s nominated solicitor is used, free standard valuation and 10 per cent overpayments.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “As significant numbers of homeowners look to remortgage or switch in the coming year, we recognise the importance of responding to the changing requirements of the market, and believe our new re-mortgage rates provide the ideal option for those coming to the end of their existing mortgage term.
“We’re pleased to announce we’ll be lowering rates across our existing 80 per cent LTV range and re-introducing a range of 60 per cent LTV products.
“These updates to our residential mortgage proposition deliver real benefits to customers with a range of circumstances, looking to purchase a property or re-mortgage their existing home, including fee assisted options for those customers who are looking for help with costs.”
Accord Mortgages reduces rates and add products
Accord has announced its fourth round of rate cuts in as many weeks, with reductions of up to 0.45 per cent applying to fixed rate deals up to 95 per cent LTV.
The rate cuts for residential products came into force yesterday and buy-to-let changes come into effect from 8am tomorrow morning.
The lender has also expanded its range at 60 per cent LTV, with a five-year fixed remortgage rate priced at 4.91 per cent. It comes with a £495 completion fee and £250 cashback.
Examples of rate cuts include its three-year fixed remortgage rate up to 85 per cent LTV which has fallen from 5.8 per cent to 5.35 per cent. It comes with a £995 fee and £250 cashback
Its five-year house purchase fixed rate product up to 95 per cent LTV has gone down from 5.88 per cent to 5.54 per cent. It comes with £495 completion fee and £250 cashback.
All products allow early repayment charges of up to 10 per cent.
The lender has also reduced its Standard Variable Rate (SVR) discounted products by up to 0.10 per cent, and product end dates have been extended until 30 April. This is to “give maximum product term value to brokers and their clients”.
Gemma Hyland, mortgage manager at Accord, said: “We’ve seen some positive downward movement in market swap rates, and have therefore decided to reduce rates across a variety of LTVs and initial fixed terms, and extend end dates until April, offering brokers and their clients even better choice and value.
“We understand that people are struggling with the pressures of rising costs, as well as higher mortgage interest rates, at the moment. We hope this new range will offer something positive for brokers supporting borrowers who are looking to purchase a home or remortgage.”
