Rates for new-build houses at 90 per cent LTV have been cut by up to 0.36 per cent, such as a five-year fix which has gone down from 5.66 per cent to 5.3 per cent. This product offers a free standard valuation, has a fee of £495 and £250 cashback.
At 95 per cent LTV, a five-year fix has been reduced to 5.3 per cent, down from 5.54 per cent. This is available for purchase, has a £495 completion fee and offers £750 cashback.
The products which have been added at 80 per cent LTV include a five-year fix with a rate of 4.74 per cent. This is available for remortgage, has a £495 product fee, £250 cashback and a free standard valuation.
There is also a two-year fixed option for purchase at the same tier with a rate of 5.62 per cent. This comes with a free standard valuation and £500 cashback.
Gemma Hyland, mortgage product manager at Accord Mortgages, said: “Having reviewed market conditions following the Christmas break, we’re taking the opportunity presented by falling market interest rates to reduce our product rates again, as well as introducing a new suite of products at 80 per cent LTV, offering brokers and their clients even better choice and value.
“We hope that reducing rates across LTVs will support a variety of borrowers, especially in the current environment, where people are really struggling when it comes to controlling their costs, no matter where they are in their homeownership journey.”
Clydesdale Bank
Clydesdale Bank has introduced a slew of mortgage products to its offering and made rate reductions.
The newly launched mortgages include a broker exclusive mortgage for loans between £1m and £2m at 65 per cent LTV. There is a £1,999 fee and rates begin at 4.71 per cent. The bank has also added interest-only discounted offset rates, beginning at 4.54 per cent.
Fee-free buy-to-let mortgages have been launched at 75 per cent LTV, with fixed rates starting at 5.21 per cent, while at 80 per cent LTV, fixed rate buy-to-let deals starting from 6.3 per cent have been added.
Rate reductions
Clydesdale Bank has reduced fixed rates between 75 and 90 per cent LTV by up to 0.26 per cent. Pricing now starts from 4.64 per cent. Buy-to-let fixed rates between 60 and 75 per cent LTV have been reduced by up to 0.22 per cent, and now begin from 5.21 per cent.
Mortgages for professional and newly professional borrowers, borrowers requiring loans between £1m and £2m and product transfer rates have also been reduced by up to 0.43 per cent.
