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Accord cuts prime mortgage rates

Accord Mortgages has taken advantage of falling swap rates and cut rates across its prime range by up to 70 basis points.

As a result, all products will be withdrawn at close of business on September 4 and new products will be available from September 5.

The new range includes a two-year fixed rate at 5.19%, three and five-year fixed rates from 5.69%, an expanded range of remortgage products with legal fees paid, as well as free valuations and no product fees.

For borrowers looking to remortgage with no fees attached, Accord is offering three and five-year fixed rates with no product fees.

Accord will pay the legal fees and standard valuation, up to £470. There’s also an option offering a lower rate but with a product fee of £995.

Cate Hillis, strategic development director at Accord Mortgages, says: “We’ve acted quickly following recent falls in swap rates and we’re delighted to be able to offer borrowers these great reductions. Accord continues to offer an extremely competitive range of remortgage products featuring legal fees paid and free valuation – along with the new no product fee option.”


SWB reports healthy profits

Scottish Widows Bank has reported pre-tax profits of £16.4m – a 12% year-on-year rise. Net mortgage growth for the first half of 2008 was £800m, with total mortgage balances of £6.6bn. SWB says its credit quality is strong, with just 0.23% of its book two or more months in arrears.

Halifax sees 1.8% fall in house prices

Halifax has reported a 1.8% fall in house prices from July to August 2008, taking the average house price down to £174,000, a fall of 10.9% from last year.

GMAC cuts 5,000 jobs in USA

GMAC, parent company of GMAC-RFC, is cutting 5,000 jobs from its ResCap business and closing 200 branches in the US.

Life cover for life

Jennifer Gilchrist Proposition Lead – Design, Royal London When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that way because before the arrival of RDR in 2013, that’s more […]


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