Rate cuts, fee reductions, and cashback incentives rolled out across portfolios
Several UK lenders have revised their mortgage product offerings, with rate changes, new product launches and fee adjustments rolled out across the board.
Skipton Building Society for Intermediaries has implemented rate changes across selected products in its full mortgage range.
Along with pricing adjustments, the lender has reintroduced its three-year fixed rate purchase options and reduced the associated fee from £1,495 to £995. Its 60% loan-to-value (LTV) two-year fixed remortgage range has also returned.
Updates to its residential offering include a combination of product removals and new additions for existing customers. In addition, Skipton has reduced the percentage fee for its existing customer range from 3% to either 2.5% or 2%, depending on the product. End dates for fixed rate deals have also been extended to October 2027, 2028, and 2030.
Coventry for Intermediaries has also lowered fixed rates across its residential range for both new and existing borrowers. The lender also made reductions to its fixed rate products in the buy-to-let (BTL) and portfolio BTL segments.
Meanwhile, Chorley Building Society introduced two new BTL products following broker feedback. These offerings feature lower interest rates than its standard BTL range and carry a fixed scheme fee of 3%. This contrasts with its standard products, which have a fixed fee of £1,499 and higher rates.
Elsewhere, Newcastle for Intermediaries has trimmed rates on its Shared Ownership mortgage range, with rates now starting from 4.55% fixed until October 2027. The products are available up to 90% LTV and include a £999 product fee.
The range is open to both purchase and remortgage cases and offers borrowers a 10% annual overpayment facility.
Accord Mortgages has also cut rates across its residential new business range. Two- and three-year fixed rates have been reduced by 0.09%, while five-year fixes have dropped by 0.03%.
Specialist buy-to-let lender Fleet Mortgages has announced price cuts on several of its five-year fixed products across all LTV bands.
The lender’s 55% LTV five-year fix with a 3% fee has dropped to 4.59% from 4.64%, and its fixed-fee version has been reduced to 5.14% from 5.19%. Fleet has also introduced a £1,000 cashback offer on 55% LTV products to assist landlords with upfront costs. Additionally, the 65% LTV zero-fee five-year fix has been reduced to 5.24%, and the 75% LTV version now stands at 5.34%. Both 65% and 75% LTV options have seen a 0.10% cut across percentage and fixed-fee variants.
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