Accord Mortgages has cut rates on both its residential and buy-to-let (BTL) mortgage product range, while Coventry for intermediaries makes cuts on residential and BTL and portfolio BTL products.
Both changes will be effective from tomorrow.
Accord Mortgages has reduced rates on its residential range by up to 0.10% on fixed-rate products up to 75% and 80% loan-to-value (LTV).
Products up to 85% LTV will reduce by up to 0.09%.
Accord has also extended the end dates to 31 May, to maximise product term value for brokers and their clients.
For landlord borrowers, rates have been lowered by 0.10% across the range, including on products up to 80% LTV.
Examples of Accord’s latest changes for residential borrowers include:
- A two-year fix at 4.61%, down from 4.71% up to 75% LTV, suitable for house purchase, with a £1,995 fee, £250 cashback and free standard valuation
- A five-year fixed rate, up to 85% LTV, for those remortgaging, at 4.71%, down from 4.79%, with a £495 fee, free standard valuation, and a choice of either £500 cashback or remortgage legal services.
Examples of Accord’s latest changes for BTL borrowers include:
- A two-year fixed rate at 4.29%, down from 4.39% for those remortgaging at 60% LTV, which comes with a £3,495 fee, free standard valuation and remortgage legal service
- A five-year fix at 5.19%, down from 5.29% for those remortgaging up to 80% LTV, which comes with a £995 fee, free standard valuation and remortgage legal service.
Accord Mortgages mortgage product manager Gemma Hyland says: “We’re pleased to be passing on the benefit of market fluctuations to our brokers and their clients, ensuring we deliver the best possible value we can, and providing options for borrowers, whether they are looking to buy or remortgage their own home, or for a rental property.”
Meanwhile, Coventry for intermediaries has reduced all fixed purchase rates at 90% to 95% LTV for residential new borrowers.
For existing borrowers, the lender is also reducing all fixed rates at 90% to 95% LTV.
Rates on BTL and portfolio BTL new and existing borrower products have also been lowered.
