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TODAY'S OTHER NEWS

Now Accord and Coventry both cut rates

Broker-only lender Accord and Coventry for Intermediaries are the latest to cut mortgage rates as the lender price war continues.

Accord is helping first-time buyers get onto the property ladder by reducing its mortgages for customers with a 10% deposit by up to 0.15%, with added incentives.

It has reduced the rates on its 90% LTV two-year fixed rate residential mortgages by 0.15%, and its two-year fixed rates at 95% LTV by up to 0.10%

Highlights for house purchase customers include:

2.84% two-year fixed rate at 90% LTV with a £845 product fee, £250 cashback on completion and free standard valuation

3.09% two-year fixed rate at 90% LTV with no product fee, £250 cashback on completion and free standard valuation

4.54% two-year fixed rate at 95% LTV with no product fee, £750 cashback on completion and free standard valuation.

Accord's national intermediary sales manager David Robinson said: “We think these latest rate reductions will appeal to brokers and borrowers looking for value for money from their fixed rate mortgage.

“In addition, the cashback on completion and free standard valuations will help borrowers to keep down the upfront costs of purchasing a home.”

Coventry for intermediaries has launched a new residential range offering two and five-year Flexx-Fixed products and Flexx Trackers with a range of LTVs from 65%.

The deals include no or low-fee options and no early repayment charges (ERCs), and start from 1.59%.

Highlights include:

1.59% (+1.09% BBR) two-year Flexx Tracker to 31.12.17 at 65% LTV, no ERCs and £499 arrangement fee.

2.39% two-year Flexx-Fixed to 31.12.17 at 75% LTV, no ERCs and no arrangement fee.

3.85% five-year Flexx-Fixed to 31.12.20, 90% LTV, no ERCs and no fee.

Darin Landon, distribution director, said: “Our Flexx-Fixed mortgages are ideal for your clients looking for the stability of a fixed rate, while Flexx Trackers provide attractive variable rates from 1.59%, all with no ERCs.

“In addition, all of our residential products are booking fee-free and include a valuation.”

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