Mortgage News
Accord withdraws ‘uncompetitive’ tracker mortgages
Accord Mortgages has withdrawn its range of tracker mortgages seeing after diminishing demand for variable rate products.
The lender, intermediary subsidiary of Yorkshire Building Society, has made the decision to stop its tracker and tracker-to-fixed mortgages due to the comparatively high costs of variable mortgages.
A spokesperson told Mortgage Solutions that rates were proving ‘uncompetitive’ when compared to Accord’s range of fixed rate products.
The lender now offers a 75% LTV two-year fixed rate at 2.69%, a 75% LTV three-year fixed rate at 2.89% and a 90% LTV two-year fixed rate at 4.89%, all products come up fees of £1,995.
Toni Roberts, product manager at Accord, commented: “By refining our product range we have a greater ability to ensure our core mortgages remain competitive and appealing to borrowers.
“However, as always we will monitor the market and listen to brokers to ensure our product range continues to meet a variety of customer needs.”
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