New products & updates


Friday 1st November 2013

Accord is now offering  2-year fixed rate mortgages from 2.19% for 80% LTV and from 4.04% at 90% LTV.

With a completion fee of £1845 they are available home purchase or remortgage.

The range also includes fixed rate products with lower completion fees and incentive packages, such as:

  • 2.49% 2-year fixed rate 80% LTV mortgage with £345 completion fee
  • 4.29% 2-year fixed rate 90% LTV mortgage with £345 completion fee.

Both products include either free standard valuation and £250 cashback on completion for house purchase customers or free legal assistance for remortgage customers;

Jemma Anderson, product manager at Accord Mortgages, said: “We have a wide choice of competitive rates across LTV levels at the moment and the rates on these new mortgages at higher LTVs offer excellent deals for borrowers with a deposit of 20% or less, or homeowners with a small amount of equity in their property.

“The rates on our 80% LTV mortgages are market leading and feedback from brokers tells us these are among the most popular in our competitive range.

“We hope the choice of incentive packages helps borrowers to find the deal which suits them best.”

Monday 7th October 2013

Coventry Building Society has launched new residential mortgage rates with 2 year fixed rates from 2.09%, available with a choice of fee structures and some with no early repayment charges.

Available from Friday 4th October 2013 highlights include:

  • – 2.09% Flexx Fixed Rate until 31.12.15, 65% LTV £199 booking fee, £800 arrangement fee with no early repayment charges
  • – 2.29% Fixed Rate until 31.12.15, 65% LTV £199 booking fee with no arrangement fee and ERCs payable to 31.12.15.
  • – 3.39% Flexx Fixed Rate until 31.12.18, 65% LTV, £199 booking fee, £300 arrangement fee with no ERCs.
  • – 3.75% Fixed Rate until 31.12.18, 85% LTV, £199 booking fee with no arrangement fee and ERCs payble to 31.12.18
  • – +1.79% Base Rate Tracker (current rate 2.09%) until 31.12.15, 65% LTV, £199 booking fee, £800 arrangement fee with no ERCs.
  • – 2.15% Flexx for Term, variable rate, 65% LTV, £199 booking fee, £800 arrangement fee with no ERCs.

Colin Franklin, Sales and Marketing Director, Coventry Building Society, said:

“For borrowers who want more than just a great rate, we have some fantastic options. Our new range not only offers a choice of fixed or variable rates, including Base Rate Trackers, borrowers also have a choice of fee structures. And for borrowers looking for unlimited overpayments and no ERC’s, our new Flexx products are ideal. And don’t forget, as always, all products include a valuation up to £670 and access to our remortgage transfer service. So for anyone looking for a choice of great rates, low fees, flexibility, and all round value for money – they will find it here at the Coventry.”

Wednesday 31 July 2013

Leeds Building Society has extended its Welcome Mortgage range that allows clients to pay 0% interest for up to 6 months to their 2 year fixed rate range.

Kim Rebecchi, sales and marketing director at Leeds Building Society, said: “We launched our 3 and 5-year Welcome Mortgages earlier this month and the feedback we have received has been very positive. We were asked for a 2-year version and this is exactly what we have delivered whilst ensuring that the cost is broadly the same as our standard 2-year fixed.

Leeds Building Society has also reduced the rates on its 2, 3 and 5 year fixed rate mortgages by up to 0.37%. This also includes the fixed rate terms of its 3 and 5-year welcome mortgages.

Rebecchi said: “I am delighted that we have been able to reduce the cost of our 2, 3 and 5-year Welcome Mortgages and our standard 2, 3 and 5-year fixed rate range by up to 0.37%. All these products deliver certainty at an affordable rate and are excellent options for purchasers.”

Wednesday 17 July 2013  

Norwich & Peterborough Building Society drops rate on 10-year fix

Rates for 10-year fixed rate mortgages have fallen to a new low with the latest product from Norwich & Peterborough Building Society (N&P) – at 3.84 per cent.

Available on mortgages up to 75 per cent loan-to-value and no product fee.

It comes with incentives including:

  • Free valuation
  • £200 cashback on purchases
  • Free legal assistance on remortgages.

“This is the lowest 10-year fixed rate product on the market so we expect a lot of interest,” said N&P product manager Richard Barker.

“As so many other living costs – such as food, fuel and utility bills – keep rising borrowers are choosing a long-term fixed rate mortgage to fix their repayments and give them peace of mind about their biggest monthly outgoing. We consistently see strong demand for this type of longer-term product when we are able to offer.”

F&P’s five-year fix on similar terms is 3.29 per cent but without the incentives the rate is 2.94 per cent.


Coventry Building Society Introduces their Step-Up facility

If you are first time buyers needing help to get on the property ladder, you might want to consider Step-Up from Coventry Intermediaries.How does it work?
The income of a parent or close relative is taken into account with that of the first time buyer when assessing the maximum loan available to the applicants. This is not a guarantor mortgage (Coventry do not permit the use of a guarantor in any circumstances), as both parties join the transaction as joint property owner and joint mortgagor.Who is it for?
It is designed for first time buyers and those needing help to buy a new property following divorce or separation (the main applicant).Which products can it be used for?
All first time buyer and standard residential mortgage products (excluding  Offset).What are some of the main criteria?

  • The maximum age of the parent or other relative at the date of application is 65 years and maximum lending age of the main applicant (not the parent or relative) at the end of the mortgage term is 75 years.
  • The maximum total loan amount is £250,000.
  • The maximum LTV is 90% (subject to product availability).
  • The loan must be taken out on a repayment basis. The maximum repayment term is 35 years.
  • Loan amount must not exceed 7 times the main applicant’s admissible annual income.

Friday 12 July 2013

 Coventry Building Society adds 2 and 5 year fixed rates to its range of mortgages.

The new range offers low fee options, 2 and 5 year fixed deals and rates starting from 2.45%. The range includes products up to 90% LTV, most notably a 5 year fixed offset at 4.75%.

Available from today, highlights include:

• 2.45% 2 year fixed rate until 30.09.15, 65% LTV £199 booking fee with no arrangement fee and early repayment charges payable to 30.09.15.

• 3.35% 2 year fixed rate until 30.09.15, 85% LTV £199 booking fee with £800 arrangement fee and ERCs payable to 30.09.15

• 4.85% 5 year fixed rate until 30.09.18, 90% LTV £199 booking fee with no arrangement fee and ERCs payable to 30.09.18

• 4.75%, offset, 5 year fixed rate until 30.09.18, 90% LTV £199 booking fee with £500 arrangement fee and ERCs payable to 30.09.18

Colin Franklin, managing director, Godiva Mortgages, said: “Available with a choice of fee structures and LTVs, borrowers can choose a rate and fee structure to suit their needs.

“We also have a new 5 year offset mortgage, fixed at 4.75% and available up to 90% LTV. This is ideal for borrowers who are looking to keep their initial costs down, but have the ability to make regular savings.

“With so many highly competitive products available up to 90% LTV, we are confident that there is something for everyone in our new range. And, as always, all products include a valuation up to £670 and access to our remortgage transfer service.”

Thursday11 July 2013

National Counties offers 8 year fixed rate

 National Counties Building Society is now offering a mortgage targeted at borrowers approaching, or already in retirement, and looking to deal responsibly with their outstanding debt.

The eight-year fixed rate mortgage product, available for remortgage, is priced at 3.99% fixed until 28/02/2022.

It is available to people needing to borrow up to 60% of the value of their property and, while having a nine-year mortgage term, only has early repayment charges for the first five years.

The mortgage is available on a repayment basis only and calculates interest monthly.

The product available to customers up to the age of 80, and National Counties believes that this, allied with its personalised underwriting assessments, may allow existing homeowners to avoid trading-down.

Customers are able to withdraw equity from their existing main residence, with the reassurance of fixed monthly payments, and the structured repayment profile ensures that the initial debt is reduced steadily to zero over the 9 year term.

Keith Barber, associate director business development at National Counties Building Society, said: “There are more than 1.6 million retired people with an outstanding mortgage in the UK and a further 600,000 with interest-only mortgages that are due to mature. We are trying to address this area with a mortgage that enables people to put in place a structured and affordable repayment plan with the comfort of known monthly repayments.

Wednesday 10 July 2013:

Aviva Enhance Critical illness cover conditions


The  award-winning critical illness cover from Aviva already combines a strong claims record with free access to RED ARC’s support services.   Aviva have gone one step further and used their claims experience to add value around the top five conditions which accounted for 93% of our claims in 2012: cancer, heart attack, stroke, multiple sclerosis and benign brain tumour.

The cover now has the leading heart attack definition in the IFA market for a full payment. Heart attack is Aviva’s second biggest cause of claim and they think the decision to improve a definition that’s already rated ABI+ is a bold one.

Also included are three new conditions – two that are brand new to the UK critical illness market – and two new additional benefits.  Added to this is a new child death benefit of £5,000.  The family can choose how they use this support and Aviva will pay the benefit on top of any pay out for children’s critical illness.

By expanding the cover in this way, Aviva believe they will make a real difference to clients.  Louise Colley, Distribution Director – Protection, says, “The critical illness market is becoming more and more complex.  So rather than add conditions which have a low probability of pay out, we felt it right to only add those which are more likely to result in a successful claim.”

Tuesday 9th July 2013:

Leeds Building Society launch The Welcome Mortgage

Leeds Building Society launches a flexible mortgage that allows you to pay 0% interest for either a 3 or 6 month period. The Welcome Mortgage allows for you to make some alterations to your home in the first few months after you move in. Following the initial 3 or 6 months the rate is fixed for 3 or 5 years at 3.79% & 4.23% respectively. This is available at 90% LTV.

Kim Rebecchi Leeds Building Society’s sales and marketing director said, “The cost of buying a home is not limited to finding a deposit and being able to pay the mortgage. Stamp duty, solicitor’s fees and searches all have to be budgeted for.

“We also know that when people buy a new home, they want to make changes and put their own personal mark on it, and that is why we have launched the unique Welcome Mortgage. Customers can choose a 0% interest rate period and pay capital only, for either three or six months. This reduces their outgoings immediately after they move in and gives borrowers the opportunity to decorate, make improvements or buy furniture for their new home.

“They then pay a fixed monthly payment for the remainder of the product period at a competitive and affordable rate, creating flexibility and certainty at the same time.”

For more information or you wish to discuss further please contact:

Tel Number: 01708 640855


Twitter: @LifestyleFinMan

Authorised and regulated by the Financial Conduct Authority