Buy to let and residential lenders update their offerings.
Accord Buy to Let Mortgages has introduced a new range of two-year tracker mortgage rates with no early repayment charges. All products will track Bank Rate.
Within the range there is a 65% loan to value product at 2.69% (5.5% APR) and a 75% loan to value product at 2.90% (5.6% APR). These rates are for both purchases and remortgages and come with a low arrangement fee of £300.
Accord are also now offering a free standard valuation for both purchase and remortgage deals and free standard legal fees on remortgages.
Accord Mortgages has launched a new range of five year fixed rate residential products.
This range starts at 2.24% (4.5% APRC) for 75% loan to value, 2.44% (4.57% APRC) for 80% LTV and 2.60% (4.64% APRC) for 85% LTV. All products have a £845 arrangement fee and as an added bonus - free standard valuations and a £250 cashback on completion.
This intermediary only lender has also cut some of its two year fixed rate remortgage products by up to 0.15 percentage points.
Homebuyers with a 35% deposit can now benefit from a 1.44% (5.17% APRC) two year fixed rate with an £845 fee, plus free standard valuation and legal fees.
Leeds Building Society has introduced more fixed rates to its Help to Buy Equity Mortgage Range. The lender added two, two year fixed mortgages one at 1.60% (5.1% APRC) with a £999 arrangement fee and one at 1.85% (5.1% APRC) mortgage rate with a low arrangement fee of £199.
Leeds has also launched two five year fixed rate products, one at 2.45% (4.5% APR) with a £999 arrangement fee and one at 2.65% (4.6% APR) with a £199 arrangement fee. All the new products are available up to 75% LTV and are accessible through a select panel of intermediaries, including Mortgages for Business.
Coventry for Intermediaries
Coventry for Intermediaries has also introduced a new range of seven year fixed rate residential mortgages.
The range includes a 1.99% (3.33% APRC) up to 50% LTV and a 2.55% (3.63% APRC) up to 85% LTV both with a standard £999 arrangement fee.
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Gary McKenna, Consultant Mortgage Broker, highlights why it is now more important than ever to consider a five year fixed rate.
The Bank of England (BoE) has cut interest rates from 0.5% to a record low of 0.25% and has expanded QE.