Accord Mortgages has announced changes to its residential new business product range, with reductions to fixed mortgage rates taking effect this week.
In the latest update, Accord will reduce all 2- and 3-year fixed rates by 0.09%.
Meanwhile 5-year fixed rates will be lowered by 0.03%.
The lender said no other changes to products or criteria are planned at this time.
Accord also acknowledged current market volatility and reaffirmed its intention to provide at least 24 hours’ notice of any changes wherever possible.
The existing product range will be withdrawn at 10pm tonight, Wednesday 25th June, with a refreshed range launching at 8am tomorrow, Thursday 26th June.
To secure a product from the current range, the lender informed brokers that a full mortgage application must be submitted before the 10pm withdrawal deadline.
Intermediaries were advised to act promptly, especially if a Decision in Principle (DIP) has not yet been submitted, as any referral cases will only be reviewed during standard office hours.
