Accord Mortgages will withdraw and replace its entire residential mortgage range next week, with all end dates extended and selected rates changing.
The current range will be withdrawn at 8pm on Monday (22 November) and replaced at 9am on Tuesday (23 November). End dates have been extended to 31 March to give maximum product term value to brokers and their clients, and all the lender’s discounted standard variable rate (SVR) mortgages benefit from reductions.
Highlights of the new range, available for both house purchase and remortgage with a £495 fee and free standard valuation, include:
2-year discounted SVR rate of 1.04% (was 1.19%) at 65% loan-to-value (LTV)
2-year discounted SVR rate of 1.09% (was 1.24%) at 75% LTV
7-year fixed rate of 2.10% (was 2.19%) at 75% LTV
The intermediary-only lender has increased selected mortgages across lower LTVs, but 90 and 95% LTV mortgages have either stayed the same or been reduced. Accord’s 5-year fixed rate of 2.07% at 85% LTV remains available.
Highlights for brokers supporting clients with smaller deposits include:
2-year fixed rate of 2.22% at 90% LTV, which comes with a £495 fee, £500 cashback and free standard valuation for house purchase
5-year fixed rate of 2.59% (was 2.64%), which comes with £500 cashback and free standard valuation for house purchase
2-year fixed rate of 2.97%, which comes with a £495 fee, £250 cashback, free standard valuation and free remortgage legal services for those remortgaging at 95% LTV
Jemma Anderson, mortgage manager at Accord Mortgages, said: “While extending end dates to give brokers and their clients the best chance to maximise their initial deal terms, we’ve taken the opportunity to re-assess the entire range.
“As a result, some rates have gone down, and some up, as we adjust our range of residential mortgages to reflect the ever-changing market.”
