Mortgages  

Several lenders pitching lower LTV sub 2% rates

Several lenders pitching lower LTV sub 2% rates

Several sub 2 per cent interest rates on mortgages with lower loan-to-values were released into the market this week, headlined by HSBC’s market leading five-year fixed rate deal.

As reported on Monday (20 April), the global banking group may have started a new price war with its five-year fix priced at 1.99 per cent.

The mortgage is available at 60 per cent loan-to-value and has a booking fee of £1,499. Charlotte Nelson, spokesperson for Moneyfacts, confirmed that at the reduction makes it the lowest on record.

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Virgin Money also announced a number of changes to its residential mortgage range, including rate reductions of up to 0.45 per cent, on Wednesday. Amongst them was a 3-year fixed rate deal at 65 per cent LTV with an interest rate cut to 1.99 per cent and a £995 fee.

The challenger bank also launched an exclusive range designed to appeal to re-mortgage customers in partnership, available to Legal and General Mortgage Club appointed representatives, The Mortgage Advice Bureau and L&G Nouveau members.

Here are all the publicly announced deals this week:

LenderLTV/typeHeadline rateProduct fee
Accord65%/2-year fixed1.54%£845
Accord65%/5-year fixed2.29%£845
Accord75%/3-year fixed2.14%£845
Accord75%/5-year fixed2.59%£845
Accord80%/2-year fixed1.79%£845
Accord80%/3-year fixed2.29%£845
Accord80%/5-year fixed2.74%£845
BM Solutions0-75%/2-year fixed3.44%£1,495
BM Solutions0-75%/2-year tracker3.34%£1,495
BM Solutions0-60%/3-year fixed3.39%£995
BM Solutions60-75%/3-year fixed4.39%£995
BM Solutions0-60%/5-year fixed3.59%£1,495
BM Solutions60-75%/5-year fixed4.24%£1,495
Halifax85-90%/2-year fixed3.74%£1,499
Halifax85-90%/5-year fixed3.74%£1,499
Halifax80-90%/2-year fixed4.09%£999
HSBC60%/5-year fixed1.99%£1,499
HSBC60%/2-year fixed1.24%£1,499
Coventry Intermediaries65%/2-year fixed1.69%£999
Coventry Intermediaries65%/5-year fixed2.29%£999
Virgin Money65%/3-year fixed 1.99%£995
Virgin Money65%/5-year fixed2.39%£995
Virgin Money65%/5-year fixed2.34% (intermediary exclusive)£1,495
Virgin Money70%/3-year fixed2.19%£995
Legal & General Mortgage Club70%/5-year fixed2.39%£1,495
Legal & General Mortgage Club70%/5-year fixed2.69%£495
Virgin Money75%/3-year fixed2.89%£0
Virgin Money75%/5-year fixed3.39%£0
Coventry Intermediaries75%/5-year fixed2.79%£0
Paradigm Mortgage Services75%/three-year fixed4.54% (BTL)
Paradigm Mortgage Services75%/three-year fixed5.34% (BTL)
Legal & General Mortgage Club80%/5-year fixed2.85%£1,495
Legal & General Mortgage Club80%/5-year fixed2.99%£495
Coventry Intermediaries85%/Flexx for Term2.55%£300
Virgin Money85%/2-year fixed2.39%£995
Virgin Money90%/2-year fixed3.45%£0
Virgin Money90%/5-year fixed3.98%£0
Yorkshire Building Society95%/5-year fixed4.89%
Yorkshire Building Society95%/2-year fixed4.39%
Yorkshire Building Society95%/2-year fixed3.99%£1,545

peter.walker@ft.com