Accord is significantly improving the value of its residential range this week, cutting rates despite continued volatility in market interest rates.
From 8am tomorrow, the intermediary-only lender is reducing rates by up to 0.64% on products at 95% loan-to-value (LTV), including new builds, with up to 0.60% also shaved off at 90% LTV – good news for borrowers with the smallest deposits.
And for those with more equity, rates are up to 0.45% lower at 60% LTV, or 0.48% lower at 75% and 80% LTV.
Highlights of the new range include a fee-free 5-year fixed rate up to 95% LTV at 5.06%, (was 5.70%), a 2-year fix to 90% LTV, available for home purchasers at 5.04%, down from 5.47%, and a fee-free 2-year fix to 90% LTV at 5.61% (was 6.21%).
Gemma Hyland,mortgage product manager at Accord, said: “Due to changes in market conditions driving falling swap rates, we’re reacting quickly and taking the opportunity to review our product range, to offer brokers and their clients better value.
“We’re especially pleased to make these changes to higher LTV products, recognising that these borrowers may need our support more than others, particularly in the current climate.”
