Mortgage News
Accord cuts rates by 0.60%
Accord Mortgages, the intermediary arm of Yorkshire Building Society, is launching a 75% LTV five-year hybrid and fixed rate product and reducing rates by up to 0.60%.
The range launches today and includes a five-year fixed rate at 3.59% with a £1,995 fee, a five-year fixed rate at 3.79% with a £995 fee, incentives and a two-year Bank of England +2.49% tracker.
It is also offering a three-year fixed rate at 3.89% with a £1,995 fee.
Accord product manager Toni Roberts said: “We have reacted to movement within the market and listened to brokers’ views by making a substantial cut in our rates for long-term borrowers.
“With a 0.60% reduction from our 75% LTV five-year fixed rate products and up to 0.30% from our five-year hybrids, borrowers will be able to make considerable savings.”
David Hollingworth, head of communications at London & Country, added: “There is uncertainty over the likelihood of changes in the base rate over the long-term so customers are looking more and more at borrowing over five years. These new products reflect that thinking and the new rates will make them very competitive for brokers.”
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