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Accord unveils sub-1% mortgage at 80% LTV

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  • 18/09/2017
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Accord unveils sub-1% mortgage at 80% LTV
Accord is launching a sub-1% mortgage into the broker market – the lowest ever deal available to the broker market at 80% loan-to-value (LTV).

The deal is available from 19 September for purchases and remortgage and Mortgage Solutions understands it will have limited funds.

The two-year fixed-rate deal is available at 0.99% and comes with a £1,495 fee on completion and includes free valuation for purchases and remortgage.

Moneyfacts confirmed that the product will launch as the lowest ever recorded at 80% loan-to-value regardless of channel.

Accord national intermediary sales manager David Robinson said: “We have a reputation for offering competitive rates. We’re really proud to launch this new deal as not only is it our lowest ever rate it’s also one of the most competitive mortgages available across the market at present.

“This new mortgage is available to any borrower with a minimum deposit of 20% and gives brokers the chance to proactively contact clients who are looking to snap up a great rate.

“This offer will not be around for long so anyone who is interested will need to act fast. We will give brokers 24 hours’ notice before we take the mortgage off-sale,” he added.

 

Extraordinary rate

Coreco director Andrew Montlake was pleasantly surprised by the deal.

“This really is an extraordinary rate, especially given the recent comments from the Bank of England on the fact that rate rises may be imminent,” he said.

“This shows the competitiveness of the mortgage market at present and it is great to see a good lender such as Accord being proactive like this. The fact that this is available up to 80% LTV is an added bonus and will give borrowers who often miss out on the very cheapest rates available a chance to enjoy the benefits.”

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