MortgagesJul 29 2016

YBS Group affiliates launch array of two-year fixes

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YBS Group affiliates launch array of two-year fixes

Accord Mortgages has launched a range of fixed-rate mortgages for borrowers looking to remortgage, with a choice of incentives.

Yorkshire Building Society Group’s intermediary-only lender has introduced remortgage options at 65, 75, 80, 85 and 90 per cent loan-to-values.

Rates start at 1.49 per cent for a two-year fixed rate at 65 per cent LTV, while borrowers with a 25 per cent deposit get a 1.59 per cent two-year fix.

At 80 per cent LTV is a 1.74 per cent two-year fixed rate mortgage, and at 85 per cent LTV is a two-year fix at 1.88 per cent.

All of these come with a £845 fee, free legal service and free standard valuation incentives.

National intermediary sales manager David Robinson said this is a popular time for borrowers to remortgage, as many look to make the most of the deals on offer during this period of economic uncertainty.

“We believe that our new remortgage options will prove popular amongst borrowers and the options across the different terms and LTV range, plus the added incentives, will allow brokers to choose the best loan to suit their clients’ requirements,” he added.

Meanwhile, another YBS Group member, the Norwich & Peterborough Building Society, introduced a range of two-year fixed rate mortgages for borrowers at 75, 85 and 90 per cent LTV.

Borrowers with a 25 per cent deposit can access a two-year fixed rate of 1.28 per cent with a £1,475 product fee.

For those with a smaller deposit, N&P also has a 1.57 per cent two-year fix at 85 per cent LTV, or a 2.13 per cent two-year fix at 90 per cent LTV, both with a £945 product fee.

The building society’s mortgage product manager Richard Barker added: “Our new two-year fixed rate mortgages will offer borrowers with a range of deposits competitive rates for the next couple of years.”

Alex Smith, senior mortgage adviser at Capricorn Financial, said the reductions stack up well against the competition, who have also made similar moves.

“However, an overdue and much bolder move would be for YBS to stop their policy of dual pricing intermediaries by pushing products that are more expensive, not only in the short term through the higher margins on product interest rates, but in the long term by keeping the standard variable rate 1 per cent higher via Accord Mortgages,” he added.

peter.walker@ft.com