A trio of lenders have announced new rate cuts, with Virgin Money’s new deals arriving today and Accord and NatWest set to follow suit tomorrow.
Virgin’s new products include:
Two-year fixed rates for remortgage with free valuations and legals starting from 4.59% at 60% LTV with a £995 and going up to 5.17% at 80% LTV
Fee-saver two-year fixes for remortgage starting from 4.95% at 60% LTV.
Five-year fixed rate for remortgage with free valuations and legals starting from 4.25% at 60% LTV with a £995 fee.
Fee-saver five-year fixes for remortgage starting from 4.35% at 60% LTV.
Two-year and five-year fixed rates on 80% LTV fee-saver deals reduced to 5.55% and 4.86% respectively.
A host of other products will also see reduced rates, including fix and switch for purchase and remortgage.
Fee saver remortgage deals will be reduced by up to 20bps with rates starting from 4.42%.
£1m-plus mortgages will see the biggest price drop, with two and five-year fixed rates at 75% LTV with a £1,995 fee down by up to 30bps with rates now starting from 4.49%.
And from 8am tomorrow, Accord is lowering prices on product transfer and additional loan rates, with all fixed rates falling by between 10 and 20 basis points.
NatWest is lowering rates on new business products by up to 15bps tomorrow, which includes:
For purchase – rates decrease by up to 10bps and 11bps on selected two and five-year deals.
For remortgage – rates decrease by up to 15bps and 10bps on selected two and five-year deals.
The announcements follow on from cut rates being announced by Santander, Paragon, Hodge and Molo.
