Accord Mortgages has announced rate reductions across its residential mortgage range, effective from tomorrow, Thursday 2nd October.
The intermediary-only lender said the cuts were made possible by continued market stability, with the largest reductions applied to products for borrowers with only a 5% deposit.
2- and 5-year fixed rates have been reduced by up to 0.10%, while 3-year fixed rates have been reduced by up to 0.14%.
Key changes include a fee-free 2-year fixed rate at 5.44% (previously 5.54%) for house purchasers at 95% loan-to-value (LTV), which comes with £300 cashback and a free standard valuation.
A 3-year fix at 95% LTV is now available at 5.30% (down from 5.44%) with a £995 fee and free valuation.
The lender’s £5K Deposit Mortgage, designed to help first-time buyers purchase a property worth up to £500,000 with a deposit of just £5,000, has also been repriced.
Customers can now access a fee-free 5-year fixed rate at 5.39%, reduced from 5.49%, with free valuation included.
Accord has extended product end dates to 31st January to provide additional value to brokers and their clients.
Aidan Smith, product manager for mortgages at Accord Mortgages, said: “We’re always looking for ways to improve the value we offer to our brokers and their clients, which is why I’m delighted to introduce this range refresh, especially focussing on the help we can offer to borrowers with the lowest deposit, who may be looking to get onto the property ladder for the first-time.”
