View more on these topics

Accord reduces rates

Accord Mortgages is reducing the rates on its two-year fixed and 2-year tracker rates at 75% LTV and introducing two new house purchase products.

Its two-year fixed and two-year tracker products at 75% LTV will be withdrawn at 5pm on Thursday June 21 and replacement products will be launched at 9am on Friday June 22.

All existing two-year fixed rate 75% LTV products will be reduced by 0.20% and all existing two-year tracker rates at 75% LTV reduced by 0.10%.

It is also launching a new two-year house purchase fixed rate 75% LTV product offering £250 cashback and free valuation.

As well as a two-year house purchase offset tracker rate at 75% LTV, offering £250 cashback and free valuation.

It is not changing its five-year 75% LTV products and 85% and 90% LTV deals, as well as its five-year 75% LTV fixed rate deals and 85% LTV trackers.


Lord Turner: MAS chief executive pay is too high

Financial Services Authority chairman Lord Turner has admitted that Money Advice Service chief executive Tony Hobman’s £350,000 remuneration package was set too high by the regulator.

Regulator’s outgoing boss has revealed a penchant for power without responsibility

I was interested to read the story last week about the BBC’s interview with Hector Sants, outgoing chief executive of the Financial Services Authority, on Mortgage Strategy Online. In particular, I noted Sants’ suggestion that the government and the Bank of England could have avoided a run on Northern Rock if they had taken up his idea to provide a loan to Lloyds TSB to buy the bank.

UK inflation falls to 2.8%

The Office for National Statistics has revealed the annual inflation rate decreased in May, as consumer price index inflation fell to 2.8% from 3%, fuelled by a drop in petrol prices.

AMI signings indicate support from industry

The Association of Mortgage Intermediaries has signed up its 14th lender member, signalling an increased appetite from lenders to support brokers. Skipton Building Society became the latest lender to join the trade body last week. It follows Nationwide, ING Direct and Clydesdale, which have all joined the trade association recently. AMI director Robert Sinclair says […]


News and expert analysis straight to your inbox

Sign up