Accord Mortgages is expanding its range of residential mortgages up to 90% loan-to-value (LTV) this week, providing a wider selection of options for borrowers with a smaller deposit.
From tomorrow, Friday 10 February, the intermediary-only lender will reintroduce 2- and 3-year products at 90% LTV, including deals for borrowers requiring new build, boost LTI, or cascade score options – which offer higher income multiples, and flexibility for clients who don’t meet Accord’s higher loan-to-value scorecard to be considered under its standard one.
Accord has also reduced rates across the board, including cuts of up to 0.30% at 85% LTV, and 0.20% at 90% LTV, to offer even better value.
Gemma Hyland, Accord mortgage manager, said: “We’ve reviewed our product range and are now in a position to add shorter-term deals at 90% LTV, offering additional options to borrowers with smaller deposits who may wish to fix for a shorter period, due to market uncertainty or personal circumstances.
“We’ve decided to reduce rates across the board after continuing to carefully monitor market conditions, to ensure we’re offering the most competitive value.
“I’m sure these changes will be welcome news to brokers and their clients.”
Highlights from this new range include a 2-year fixed rate of 5.17% at 90% LTV, which comes with a £995 fee, £500 cashback and free standard valuation, available for house purchase, as well as a 3-year fix at 5.00%, to 90% LTV for remortgage clients, which comes with a £995 fee, £250 cashback, remortgage legal services and free standard valuation.
Additionally, Accord has also introduced a 3-year fixed rate of 4.90% (was 5.20%) at 85% LTV, available for those remortgaging, which comes with a £995 fee, £250 cashback, remortgage legal service and free standard valuation, and a 5-year fix at 4.47% (was 4.62%) available up to 75% LTV, which comes with a £995 fee, for both house purchase and remortgage clients.
