Accord Mortgages has reduced rates across its residential range – the third such move by the intermediary-only lender in as many weeks.
The changes were effective from 8am today (Thursday 21st September), largely benefitting borrowers with a smaller deposit.
The range includes rate cuts of up to 0.46% on the 95% loan-to-value (LTV) Deposit Unlock range, available for those purchasing a new-build house through the insurance-backed scheme.
Reductions were also made to the standard range – including up to a 0.20% discount at 90% LTV, and 0.30% at 85% LTV.
Newly launched products include a 5-year fix up to 95% LTV, available for clients purchasing a new-build house as part of the Deposit Unlock range, at 5.64% (was 6.10%).
The intermediary-only lender also included a 2-year fix up to 90% LTV, available for house purchase at a rate of 6.01% (was 6.21%), with a £995 fee, £250 cashback and free standard valuation.
it also added a 5-year fix up to 75% LTV, available for house purchase, at 5.21% (was 5.41%). This comes with a £1,495 fee and free standard valuation.
Accord also extended product end dates to 31st January, to offer maximum product term value to brokers and their clients.
Gemma Hyland, mortgage manager at Accord, said: “A fall in swap rates has allowed us to offer more competitive products across the range, plus we’ve taken this opportunity to extend end dates so that brokers and their clients can benefit from the best possible terms.
“Reducing rates on our higher LTV offerings in particular means that we can better support borrowers with less equity – which is key during these difficult times as many are struggling to realise their homeownership dreams.”
