Lenders cut rates at high LTVs

Lenders cut rates at high LTVs

This week has seen a flurry of rate reductions at the high end of the loan-to-value spectrum, with Newcastle Building Society, Nationwide, Accord and TSB all announcing new deals.

Accord is helping first-time buyers get onto the property ladder by reducing its mortgages for customers with a 10 per cent deposit by up to 0.25 per cent.

David Robinson, national intermediary sales manager at the intermediary-only lender which is part of Yorkshire Building Society Group, said: “We think it is important to ensure that first-time buyers have access to competitive rates, which is why we’ve taken the decision to cut rates for the 90 per cent LTV bracket.”

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Newcastle Building Society also launched a range of new-build products up to 90 per cent LTV, all of which are fee-free, while builder/developer incentives can be included within a deposit on the 85 per cent LTV range.

Steve Urwin, managing director for sales and marketing at the lender, stated: “The products have been designed with a range of fixed rate terms to offer flexibility, as well as fees free and cash-back options to help keep upfront cost low for first time buyers.”

Nationwide’s existing customers received another new deal, with reductions of up to 0.2 per cent on selected two-and three-year fixed and tracker rate mortgages.

Meanwhile, TSB again updates prices across many mortgages in its range, cutting rates by up to 0.2 per cent for landlords, homeowners and homebuyers.

At the end of May, the challenger bank TSB made similar reductions across its two, three and five-year fixed rates for borrowers looking to buy a home with an loan-to-value between 85 and 90 per cent.

Here are all the rates that were publicly announced this week:

LenderLTV/Type Headline Rate Product Fee
TSB60%/3-year fixed3.04% (BTL)£1,995
TSB60%/3-year fixed3.24% (BTL)£995
TSB60%/3-year fixed3.44% (BTL)£0
TSB60%/5-year fixed3.49% (BTL)£1,995
TSB60%/5-year fixed3.69% (BTL)£995
TSB60%/5-year fixed3.89% (BTL)£0
TSB60%/5-year fixed3.39% (BTL remortgage)£1,995
TSB60%/5-year fixed3.59% (BTL remortgage)£995
TSB60%/5-year fixed3.79% (BTL remortgage)£0
TSB60-75%/5-year fixed3.99% (BTL remortgage)£1,995
TSB60-75%/5-year fixed4.19% (BTL remortgage)£995
TSB60-75%/5-year fixed4.39% (BTL remortgage)£0
TSB60-75%/5-year fixed3.99% (BTL)£1,995
TSB60-75%/5-year fixed4.19% (BTL)£995
TSB60-75%/5-year fixed4.39% (BTL)£0
TSB 60-75%/2-year fixed2.24% (shared ownership)£995
TSB 60-75%/2-year fixed1.74% (remortgage)£995
TSB 60-75%/2-year fixed2.09% (remortgage)£0
TSB 60-75%/2-year tracker1.54% (remortgage)£995
TSB 60-75%/2-year tracker1.89% (remortgage)£0
TSB 60-75%/5-year fixed2.59% (remortgage)£995
TSB 60-75%/5-year fixed2.89% (remortgage)£0
TSB75%/2-year fixed2.89% (shared ownership)£0
TSB75-80%/2-year fixed2.04% (remortgage)£995
TSB75-80%/2-year fixed2.39% (remortgage)£0
TSB75-80%/2-year tracker1.84% (remortgage)£995
TSB75-80%/2-year tracker2.19% (remortgage)£0
TSB75-80%/5-year fixed2.89% (remortgage)£995
TSB75-80%/5-year fixed3.09% (remortgage)£0
TSB80-85%/2-year fixed2.29% (remortgage)£995
TSB80-85%/2-year fixed2.64% (remortgage)£0
TSB80-85%/2-year tracker2.09% (remortgage)£995
TSB80-85%/2-year tracker2.44% (remortgage)£0
TSB80-85%/5-year fixed3.39% (remortgage)£995
TSB80-85%/5-year fixed3.59% (remortgage)£0
Newcastle Building Society85%/2-year fixed3.04%£0
Newcastle Building Society85%/5-year fixed3.55%£0
TSB 90%/2-year fixed2.24% (shared ownership)
Accord90%/5-year fixed3.94%£845
Accord90%/2-year fixed3.39%£345
Nationwide90%/2-year tracker3.14% (loyalty rate)£999
Nationwide90%/2-year tracker3.54% (loyalty rate)£0
Newcastle Building Society90%/2-year fixed3.89%£0
Newcastle Building Society90%/5-year fixed4.10%£0