Nationwide Building Society will cut two and three-year fixed-rate mortgages between 75% and 95% loan to value tomorrow (17 September), when Accord Mortgages will also reduce rates on selected buy-to-let remortgage products by up to 12 basis points.
At the mutual, highlights of reductions of up to 17 basis points for first-time buyers include:
A two-year fixed-rate loan at 85% LTV reduced by 0.17% to 1.62%, with a £1,499 fee.
A three-year fixed-rate mortgage at 90% LTV reduced by 0.10% to 2.02%, with a £999 fee.
A two-year fixed-rate deal at 95% LTV reduced by 0.05% to 2.94%, with a £1,499 fee.
The building society says its FTB mortgages come with £500 cashback, while those looking to remortgage to the mutual can choose between £500 cashback or free standard legal fees.
Highlights at the mutual of reductions of up to 11 basis points for new customers moving home include:
A two-year fixed-rate loan at 85% LTV reduced by 0.05% to 1.57%, with a £1,499 fee.
A three-year fixed-rate deal at 90% LTV reduced by 0.10% to 1.94%, with a £999 fee
A two-year fixed-rate offer at 95% LTV reduced by 0.05% to 2.89%, with a £1,499 fee.
The mutual is also cutting selected further advance, family deposit mortgage and switcher rates by up to 11 basis points.
Nationwide director of mortgages Henry Jordan says: “By improving the competitiveness of our two and three-year fixed rate products, we are aiming to support those mortgage customers with smaller deposits who are looking for payment security.”
Meanwhile, Accord Mortgages says it is cutting its rate for landlords by as much as 12 basis points at 60% LTV and 8 basis points at 65% LTV.
Highlights among the reductions from the broker-only lender include:
A two-year fixed-rate remortgage at 1.31%, from 1.43%, for landlords with 40% equity, which comes with a £1,495 completion fee, free standard valuation and either £300 cashback or free remortgage legal services.
A two-year fixed-rate remortgage at 1.71%, from 1.79%, for landlords requiring 65% LTV, which comes with a £495 completion fee, free standard valuation and either £250 cashback or free remortgage legal services.
The specialist lender has also improved selected buy-to-let purchase products, with a five-year fixed rate of 1.89%, from 1.90%, now available at 65% LTV. This mortgage comes with a £495 completion fee, £250 cashback and free standard valuation.
It adds, the same deal is also available to landlords looking to remortgage.
Accord Mortgages BTL mortgage manager Simon Garner says: “Reducing the rates on these selected products will give brokers and their landlord clients better value.”
