THE PROPERTY FILTER TAKE
Accord has cut rates by up to 37bps (basis points, hundredths of a percentage point) on selected residential product transfer and further-advance deals, while TSB has cut up to 20bps on purchase and remortgage fixes, both from 27 August 2026, according to Mortgage Strategy (26 August 2026).
On a typical £150,000 mortgage, a 37bps cut is worth roughly £46 a month less in interest, but only Accord's three-year fixes get that full cut; other products see smaller reductions.
You may wish to check whether your own product transfer, further-advance or purchase deal falls within the cut brackets, and speak to your broker about whether either lender now beats your current rate.
Accord Mortgages has cut rates by up to 37bps (basis points, hundredths of a percentage point) on selected residential products, while TSB has trimmed rates by up to 20bps on its house purchase and remortgage fixes. According to Mortgage Strategy (26 August 2026), both sets of cuts take effect from 27 August, today.
What exactly has changed
Accord's cuts apply to its residential product transfer (letting existing borrowers switch rate without a full remortgage) and additional loan (further borrowing on an existing mortgage) ranges, according to Mortgage Strategy (26 August 2026). Its three-year fixes get the full 37bps cut, five-year fixes 5bps, two-year fixes up to 90% LTV (loan-to-value) 20bps, and two-year fixes up to 80% LTV 15bps.
TSB's cuts are smaller across the board: up to 20bps off its two, three and five-year house purchase fixes, and 15bps off three-year fixed remortgages, according to the same report. So 37bps is Accord's largest single cut, not a blanket figure. Check exactly which product and term you're quoted.
What a cut like this is worth to you
Here's how I translate a rate move into real numbers. Take a typical £150,000 mortgage balance. A 37bps (0.37 percentage point) cut works out at £150,000 x 0.0037, which is £555 a year, or just over £46 a month less in interest, before fees. Accord's smaller 5bps trim shaves off far less.
These cuts apply to specific residential products, not every mortgage type, so check which bracket your deal falls into. Run your figures through a stress test calculator before you commit, especially if your ICR (interest coverage ratio, lenders' check that rental income covers your mortgage payments) is tight, and see our negotiation and finance hub if you're comparing lenders. You may wish to speak to your broker about whether either lender's pricing beats your current deal.
Key takeaways
- Accord has cut rates by up to 37bps on selected residential product transfer and further-advance deals; TSB has cut up to 20bps on purchase and remortgage fixes, both from 27 August 2026 (Mortgage Strategy). - Only Accord's three-year fixes get the full 37bps cut; other products across both lenders see smaller reductions, as low as 5bps. - On a typical £150,000 mortgage, a 37bps cut is worth roughly £46 a month less in interest. - These cuts apply to specific residential products, not automatically to every mortgage type, so check your own deal against the criteria. - You may wish to speak to your broker about whether either lender's new pricing beats your current rate.
