Yorkshire Building Society will cut selected fixed rates across its mortgage range by up to 20 basis points, while Family Building Society introduces reductions of up to 25bps across its residential and landlord offers.
Also, Halifax says it will cut selected fixes across its remortgage products tomorrow as the price war between lenders continues.
Yorkshire Building Society says its changes include:
- A two-year fix at 4.39% (was 4.54%) up to 75% loan to value, for remortgage purposes, with a £1,495 fee, free standard valuation and free remortgage legal service
- A three-year fix at 4.34% (was 4.49%) up to 75% LTV, for remortgage, up to 75% LTV with a £1,495 fee, free standard valuation and free remortgage legal service
- A five-year fix at 5.24% (was 5.44%) up to 90% LTV, for house purchase, with no fee, £2,000 cashback and free standard valuations
- The mutual has also reduced the rate on its £5,000 Deposit Mortgage five-year fix, to 6.24% (was 6.39%), allowing borrowers to buy a home worth up to £500,000 with a £5,000 deposit, with no fee and free standard valuation
Meanwhile, highlights of Family Building Society’s new rates include:
Repayment
- Two-year fix from 5.19%
Buy to let — UK landlord
- Five-year fix from 4.89%, with no product fee
Buy to let – Limited company
- Two-year fix from 5.44%
Buy to let – Expat
- Two-year fix from 5.64%
Family Building Society head of intermediary sales Darren Deacon says the reductions “will be particularly welcome for those underserved older borrowers struggling to remortgage simply because of their age and who need a lender willing and able to spend the time understanding their needs”.
“In addition, our commitment to the BTL market is reflected in the removal of the product fee for our five-year UK landlord product in addition to rate reductions across our buy-to-let range.”
Finally, Halifax says it will cut selected prices across its remortgage range tomorrow, in a note to brokers without giving further details.
It says Halifax Intermediaries Online and sourcing systems will be updated by Friday 23 August.
The lender adds, that brokers who want to secure existing product codes should submit applications in full by 8pm tonight.
