More rate cuts are being announced by lenders all the time as they vie for business and anticipate the Bank of England base rate fall, which may believe could be as soon as August 1.
Yorkshire Building Society’s second rate cut in a fortnight includes:
• For remortgage borrowers and home buyers, a three-year fix at 80% LTV is down from 5.29% to 5.04% with no fee and free standard valuation;
• For purchase only, a two-year fix at 75% LTV is down from 4.89% to 4.69% with a £1,495 fee and free standard valuation; and
• For remortgage only, a five-year fix at 75% LTV is down from 4.59% to 4.49% with a £1,495 fee, free valuation and legal fees
Meanwhile Santander is cutting rates including:
• Selected resi fixed rates for new borrowers down by as much as 14 bps;
• Selected resi fixed rates for product transfer by up to 11 bps;
• Large loan fixes by up to 11 bps and large loan two-year trackers by 15bps; and
• Buy-to-let rates reduced by between 4 and 13 bps
And Accord is cutting…:
• Two-year fixed rates and two-year trackers for BTL investors reducing by 10 to 15 bps;
• Three-year fixed rates reducing by 25 bps; and
• Five-year fixed rates reducing by 20 to 25 bps.
TSB is launching a three-year fixed for first-time buyers, home movers and remortgage borrowers with a £495 fee and rates starting from 4.75% while also cutting rates on:
• Five-year fixes for remortgage up to 90% LTV by up to 20 basis points;
• Two and five-year fixes for first-time buyers and home movers up to 85% LTV by up to 15 bps;
• Three year fixes for FTBs and home movers by up to 10 bps;
And TSB is making further cuts to selected BTL rates:
• Some two-year fixes for purchase and remortgage down by 10 bps;
• Some five-year fixes for purchase and remortgage down by 15 bps;
• Some two, three and five-year fixes for product transfer down by 10 to 15 bps.
Finally Saffron for Intermediaries is cutting as follows:
• Large loan five-year fixed rate for owner occupiers at 80% LTV, is dropping by 60 bps from 5.37% to 4.77%, while the £1,495 fee remains unchanged;
• Two-year fixed for owner occupiers at 80% LTV is being cut by 30 bps from 5.67% to 5.27% with the same £999 fee;
• A retro-fit two-year fix at 80% LTV is going down by 40 bps from 5.67% to 5.27% also with a £999 fee;
• Buy To Let five-year fix at 75% LTV with a £2,500 fee is going down by 20 bps from 5.87% to 5.67%; and
• BTL two-year tracker at 75% LTV with a £1,995 fee is being reduced by 10 bps from 6.09% to 5.99%.
