Good news for homebuyers (and potentially sellers)! Another wave of lenders have jumped on the bandwagon, slashing mortgage rates this week. This follows similar moves from big names like NatWest and TSB earlier this week, signalling that competition for borrowers is heating up!

What’s happening and who’s involved?

From tomorrow, you can expect to see some attractive new deals from Accord, Clydesdale Bank, and Bank of Ireland:

Accord:

• Fixed rates for those with a 75%, 80% or 85% Loan-to-Value (meaning you’ve got a bigger deposit) will be reduced by up to 0.2%.
• Fixed rates for those with a 90% LTV (a smaller deposit) will be reduced by up to 0.14%.

Clydesdale Bank:

• Two and five-year fixed rates for standard residential mortgages are getting a significant chop – up to 0.28% in some cases.
• Larger loans are also getting a discount, with two and five-year fixed rates being reduced by up to 0.22%.
• Buy-to-let landlords haven’t been forgotten, with core fixed rates being cut by up to 0.14%.
• Needing an 80% LTV mortgage? Clydesdale will now offer two and five-year fixed rate products starting from 4.95%!

Bank of Ireland:

While the specifics haven’t been fully revealed, Bank of Ireland has also confirmed that it will be reducing rates across a range of mortgage products from tomorrow.

What does this mean for you?

This is fantastic news if you’re looking to get a new mortgage or remortgage your current home. Increased competition means lenders are having to offer more competitive rates to attract borrowers. Make sure you shop around and compare deals to ensure you get the best possible rate for your circumstances.