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.”
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:
Lender | LTV/Type | Headline Rate | Product Fee |
TSB | 60%/3-year fixed | 3.04% (BTL) | £1,995 |
TSB | 60%/3-year fixed | 3.24% (BTL) | £995 |
TSB | 60%/3-year fixed | 3.44% (BTL) | £0 |
TSB | 60%/5-year fixed | 3.49% (BTL) | £1,995 |
TSB | 60%/5-year fixed | 3.69% (BTL) | £995 |
TSB | 60%/5-year fixed | 3.89% (BTL) | £0 |
TSB | 60%/5-year fixed | 3.39% (BTL remortgage) | £1,995 |
TSB | 60%/5-year fixed | 3.59% (BTL remortgage) | £995 |
TSB | 60%/5-year fixed | 3.79% (BTL remortgage) | £0 |
TSB | 60-75%/5-year fixed | 3.99% (BTL remortgage) | £1,995 |
TSB | 60-75%/5-year fixed | 4.19% (BTL remortgage) | £995 |
TSB | 60-75%/5-year fixed | 4.39% (BTL remortgage) | £0 |
TSB | 60-75%/5-year fixed | 3.99% (BTL) | £1,995 |
TSB | 60-75%/5-year fixed | 4.19% (BTL) | £995 |
TSB | 60-75%/5-year fixed | 4.39% (BTL) | £0 |
TSB | 60-75%/2-year fixed | 2.24% (shared ownership) | £995 |
TSB | 60-75%/2-year fixed | 1.74% (remortgage) | £995 |
TSB | 60-75%/2-year fixed | 2.09% (remortgage) | £0 |
TSB | 60-75%/2-year tracker | 1.54% (remortgage) | £995 |
TSB | 60-75%/2-year tracker | 1.89% (remortgage) | £0 |
TSB | 60-75%/5-year fixed | 2.59% (remortgage) | £995 |
TSB | 60-75%/5-year fixed | 2.89% (remortgage) | £0 |
TSB | 75%/2-year fixed | 2.89% (shared ownership) | £0 |
TSB | 75-80%/2-year fixed | 2.04% (remortgage) | £995 |
TSB | 75-80%/2-year fixed | 2.39% (remortgage) | £0 |
TSB | 75-80%/2-year tracker | 1.84% (remortgage) | £995 |
TSB | 75-80%/2-year tracker | 2.19% (remortgage) | £0 |
TSB | 75-80%/5-year fixed | 2.89% (remortgage) | £995 |
TSB | 75-80%/5-year fixed | 3.09% (remortgage) | £0 |
TSB | 80-85%/2-year fixed | 2.29% (remortgage) | £995 |
TSB | 80-85%/2-year fixed | 2.64% (remortgage) | £0 |
TSB | 80-85%/2-year tracker | 2.09% (remortgage) | £995 |
TSB | 80-85%/2-year tracker | 2.44% (remortgage) | £0 |
TSB | 80-85%/5-year fixed | 3.39% (remortgage) | £995 |
TSB | 80-85%/5-year fixed | 3.59% (remortgage) | £0 |
Newcastle Building Society | 85%/2-year fixed | 3.04% | £0 |
Newcastle Building Society | 85%/5-year fixed | 3.55% | £0 |
TSB | 90%/2-year fixed | 2.24% (shared ownership) | |
Accord | 90%/5-year fixed | 3.94% | £845 |
Accord | 90%/2-year fixed | 3.39% | £345 |
Nationwide | 90%/2-year tracker | 3.14% (loyalty rate) | £999 |
Nationwide | 90%/2-year tracker | 3.54% (loyalty rate) | £0 |
Newcastle Building Society | 90%/2-year fixed | 3.89% | £0 |
Newcastle Building Society | 90%/5-year fixed | 4.10% | £0 |
peter.walker@ft.com