Accord Mortgages has lowered selected residential mortgage rates by up to 0.4%, including purchase and remortgage.
Two-year fixed rates are falling by up to 0.4%, three-year fixed rates are coming down by 0.34%, five-year fixed rates are decreasing by up to 0.18% and two-year trackers are declining by up to 0.23%.
The mutual is upping some two-year fixed rates by up to 0.15%, while five-year fixed rates will rise by up to 0.17% and 10-year fixed rates will go up by around 0.1%.
This includes its three-year fixed purchase rate at 90% loan to value (LTV) with a £495 fee falling from 4.69% to 4.49%. It has a free standard valuation and £300 cashback.
Another example is its two-year fixed remortgage rate at 80% LTV with a £495 fee, £500 cashback and free standard valuation, which is reducing from 4.55% to 4.45%.
Accord Mortgages’ three-year fixed remortgage rate at 75% LTV with a £495 fee, £500 cashback and free standard valuation will decrease from 4.28% to 4.23%.
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Its two-year fixed remortgage rate at 75% LTV with no fee, free standard valuation and remortgage legal work will rise from 4.4% to 4.66%.
The lender’s two-year fixed purchase rate at 90% LTV with a £495 fee and free standard valuation will go up from 4.75% to 4.91%.
Aidan Smith, mortgage product manager at Yorkshire Building Society, said: “Maximising value for our borrowers is always our primary goal and so we’re delighted to be able to make these latest mortgage rate reductions.
“Although not the only thing that drives mortgage interest rates, the Bank of England’s recent decision to reduce its base rate from 4.25% to 4% has opened up fresh opportunities within the market for lenders like us, and we’ll certainly be keeping a lookout for more over the coming weeks.”
Atom Bank cuts Prime and Near Prime rates
Atom Bank has reduced rates across its Prime and Near Prime mortgage ranges by up to 0.15%.
Prime deals will fall by up to 0.1%, starting from 4.94%, and Near Prime rates will decrease by up to 0.15%, beginning from 5.04%.
Richard Harrison, head of mortgages at Atom Bank, said: “I am delighted to announce another raft of rate cuts for both our Prime and Near Prime mortgages. Atom Bank is committed to delivering great value to borrowers, even if they have an imperfect credit history, and I’m certain brokers will welcome this latest round of rate cuts.
“We continue to set internal records for Near Prime activity on a regular basis. This is testament to the improvements we have made to criteria over the last year, as well as our ability to provide borrowers with an easy app-based journey and clear pathway back to Prime, something many specialist lenders cannot deliver.”