Accord is launching two competitive new mortgages at 95% loan-to-value (LTV), for first-time buyers and remortgagers with the lowest deposits.
These are just two examples from an attractive new range, which is available from 8am tomorrow.
The range features rate cuts of 0.57%, also including a reduction of 0.19% on a 2-year product catering for larger loans of up to £2m.
Gemma Hyland, Accord mortgage product manager, said: “Helping first-time buyers has been a major focus for us in recent years, as we understand the challenges they face in getting a footing on the housing ladder and, ultimately, they are the engine room of the market – fuelling activity further up the sale and purchase chain.
“For remortgagers who also only have a 5% deposit, there are very few product options out there, and we realised this is a gap we can fill, hence our decision to include a new option in this range.
“We’ve also been seeing more applications from people needing loans of up to £2million, perhaps as a result of increasing house price trends, which our new two-year, higher-loan product is designed to cater for.
“These are just the latest examples of how we are keeping a finger on the pulse of a fast-changing market, and helping brokers to support their clients through it.”
Further highlights from the range include a 5-year fixed rate up to 95% LTV at 5.10% (was 5.30%), for house purchase, with a £495 product fee, £750 cashback and free standard valuation, and for remortgagers, there’s also a 5-year fix to 95% LTV, at 5.32% (was 5.89%), with £250 cashback, free standard valuation and remortgage legal service, and a £495 product fee.
The range also includes a 5-year fix to 90% LTV at 4.85% (was 5.00%), comes with a £495 product fee, free standard valuation and £500 cashback, and is available for home purchase.
And, for borrowers needing larger loans of up to £2m, there’s a 2-year fix to 85% LTV at 5.16% (was 5.35%), which comes with £500 cashback, a product fee of £995 and free standard valuation.
