L&C Mortgages has launched an exclusive range of three-year fixed-rate residential deals, while Accord Mortgages has cut prices across its residential and landlord ranges by up to 25 basis points.  

L&C Mortgages offers rates from 4.02% to homeowners looking to remortgage, the products also come with a free valuation, help with basic legal costs, or a £250 cashback.   

The lender says the products, “undercut two-year remortgage rates and the majority of the five-year [deals on the] market, offering an alternative option for borrowers unsure as to whether to lock in over the short or medium term”.

L&C Mortgages associate director David Hollingworth adds: “Volatility in global markets has opened the opportunity for lenders to cut fixed rates.  

“While some positive moves have been made for purchase borrowers these deals provide a sharply priced rate for those coming to the end of a current deal.  

“Three-year rates are often overlooked but offer a good middle ground for those wracked with indecision over how long to fix.” 

Meanwhile, Accord Mortgages has reduced residential fixes by between 3bps and 25bps while shaving 15bps from its entire buy-to-let fixed-rate suite. 

Highlights of the residential cuts from the Yorkshire Building Society’s broker-only arm include: 

• Two-year house purchase fixes at 5.00%, from 5.25%, up to 90% loan-to-value, with no product fee, with a £300 cashback and free standard valuation 

• Three-year house purchase fixes at 4.59%, from 4.64%, up to 85% LTV, with a £495 fee, with £300 cashback and a free standard valuation 

BTL highlights include: 

• Two-year remortgage fixes at 4.04%, from 4.19%, up to 60% LTV, which comes with a £3,495 fee, a free standard valuation and remortgage legal services 

• Five-year remortgage fixes at 4.89%, from 5.04%, up to 80% LTV, with a £995 fee, free standard valuation and remortgage legal services 

Accord Mortgages product manager for mortgages Gemma Hyland says: “This is the latest example of how we are responding to every opportunity to pass on additional value to our customers, and we’re delighted to be able to announce these further price drops.”