Accord Mortgages has announced rate reductions of up to 0.40% across selected products in its residential mortgage range.
The biggest cuts apply to 2-year fixed rates, with reductions of up to 0.40%. 3-year fixed rates are down by up to 0.34%, 5-year fixes by up to 0.18% and 2-year trackers by up to 0.23%.
At the same time, the lender has made small increases to a limited number of products to reflect market movements, including 2-year fixes up by as much as 0.15%, 5-year fixes up by 0.17%, and 10-year fixes up by 0.10%.
Product highlights from the updated range include a 3-year fixed rate at 4.49% (previously 4.69%) for house purchases up to 90% LTV, with a £495 fee, free standard valuation and £300 cashback.
For remortgage customers, a 2-year fixed rate at 4.45% (down from 4.55%) is available up to 80% LTV, with a £495 fee, £500 cashback and free standard valuation.
Other changes include a 3-year fixed remortgage rate at 4.23% (was 4.28%), a 2-year fixed remortgage rate at 4.40% (was 4.66%) with no fee, and a 2-year fixed purchase rate at 4.75% (was 4.91%) up to 90% LTV.
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 4.00% 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.”
