TSB increases rates; Accord makes cuts of 10bps across entire resi range – round-up
TSB has increased rates across a number of its residential fixed rate purchase and remortgage products.
For house purchase customers, TSB raised selected two-year fixed rates at up to 80% loan to value (LTV) by 0.05%.
Meanwhile, three-year fixed rates increased by up to 0.15%.
Selected five-year fixed rates at up to 90% LTV also rose by 0.05%.
Within its remortgage range, selected two-year fixed rates at up to 75% LTV increased by 0.05%, while three- and five-year fixed rates were raised by up to 0.1%.
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Accord cuts rates across residential range
Accord Mortgages has reduced rates across its residential new business range by 10 basis points (bps), including on its £5k Deposit Mortgage.
The changes, which take effect from on 6 September, apply to all of the lender’s fixed rate mortgage products available for new business.
The rate reductions include Accord’s £5k Deposit Mortgage, which allows borrowers to buy a property worth up to £500,000 with a deposit of just £5,000.
The fee-free five-year fixed rate for first-time buyers using the £5k Deposit Mortgage has fallen from 6.88% to 6.78% and includes a standard valuation.
Accord has also reduced its fee-free two-year fixed rate for house purchase at 90% LTV from 6% to 5.9%. The deal includes £300 cashback and a standard valuation.
Its five-year fixed remortgage rate at 65% LTV has been cut from 5.35% to 5.25%. The product comes with a £1,495 fee, standard valuation and £500 cashback.
Jeremy Duncombe, managing director of Accord Mortgages, said: “We’re delighted to be reducing rates across the range, including on our innovative £5k Deposit Mortgage, reaffirming our commitment to providing excellent value and helping brokers to support more aspiring homeowners to achieve their dreams.”
