Accord Mortgages is set to reduce rates across its residential mortgage range by as much as 0.35% on products up to 95% loan-to-value (LTV).
The intermediary-only lender’s biggest cuts, effective from Tuesday 27th August, will apply to products up to 85% LTV – with 2-year deals reducing by as much as 0.35% and 3-year rates discounted by up to 0.25%.
5-year products to 85% LTV are to reduce by up to 0.20%, and those looking to fix for 10-years will benefit from 0.20% lower rates, up to 85% LTV.
For those with a smaller deposit, rates will come down by up to 0.15% at 90 and 95% LTV.
Accord is also increasing cashback by £250 on selected products across the range.
The rate on the £5,000 Deposit Mortgage – launched in March, which enables first-time buyers with just a £5,000 deposit to purchase a property valued up to £500,000, will also be cut by 0.15% to 6.24% for a 5-year fix.
Product end dates are also being extended until 30 November, to maximise product term value for brokers and their clients.
Gemma Hyland, mortgage product manager for Accord, said: “We’re very pleased to be able to further reduce rates throughout our range, so that a variety of borrowers – including those looking to get onto the property ladder for the very first time – can benefit.
“As usual, we’ll continue to monitor market trends, reacting wherever we can to pass on added value to borrowers.”
