Accord Mortgages is set to cut rates across its residential mortgage product range by up to 0.25%, after reducing them a week ago.
The intermediary-only lender is reducing fixed-rate products up to 75% loan-to-value (LTV), by as much as 0.20%, with cuts of up to 0.10% on those up to 80% LTV, 0.15% up to 85% LTV, and the biggest cut of up to 0.25% on fixed rates up to 90% LTV.
Accord is also reducing the fees on products with no other incentives, by £500.
Highlights of these changes include a 5-year fixed rate at 4.80% up to 75% LTV for house purchase, with a £1,995 fee and free standard valuation, as well as a 3-year fix at 5.38% up to 80% LTV for remortgage purposes, with a £995 fee, free remortgage legal fees and free standard valuation.
Accord will also be offering a 5-year fix at 6.39% to 90% LTV, for house purchase including new-build flats, with a £995 fee, £250 cashback and free standard valuation.
Gemma Hyland, mortgage product manager at Accord, said: “We’re delighted to be able to further reduce our mortgage rates so soon after our last reduction.
“There is increased optimism in the market and we’re seeing the return of greater stability in the rate outlook.
“The prospect of a potential cut to the Bank of England Base Rate in the near term is sure to be welcomed by borrowers.
“We will continue to carefully monitor market developments for further opportunities to pass on as much value as possible to our borrowers.”
