"We’ll maintain a watchful eye as the year continues to unfold, and seize every possible opportunity to help our brokers to help borrowers in reducing their costs"
- Gemma Hyland, mortgage manager at Accord Mortgages
Accord is reducing rates across its residential mortgage range by up to 0.56%, from 10am tomorrow.
The changes include reductions across the higher LTVs with products benefiting at 75% LTV and upwards, and the largest reductions for those with the smallest deposit at 90% and 95% LTV.
Highlights include a two-year fixed rate at 75% LTV, down to 4.73% with a £1,995 fee, while a three-year fix at 95% LTV has reduced to 5.44% with a £995 fee and £250 cashback.
For remortgage, a five-year fixed rate at 90% LTV, is down from 5.46% to 4.95% with a £995 fee and £500 cashback.
In addition, a two-year fixed rate purchase product at 95% LTV has reduced from 6.76% to 6.20% with a £1,495 fee. This is part of the lender’s Cascade Score range, available as an alternative for applicants who do not meet the enhanced underwriting scorecard, (such as borrowers who have not yet had chance to build up a lengthy payment track record), but do meet the standard scorecard.
The lender is also extending product end dates to 30th April as part of the changes.
Gemma Hyland, mortgage manager at Accord Mortgages, said: “We’re delighted to take this opportunity to respond to the more favourable market rate conditions that have emerged in recent weeks, by passing on more value to our brokers and their clients.
“We’ll maintain a watchful eye as the year continues to unfold, and seize every possible opportunity to help our brokers to help borrowers in reducing their costs amidst what remains a very challenging economic environment.”
