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Accord launches low deposit range; BOI refreshes broker products – round-up

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  • 15/02/2018
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Accord launches low deposit range; BOI refreshes broker products – round-up
Accord Mortgages has launched remortgage options for borrowers with a 25%, 20% or 10% deposit and Bank of Ireland has made a series of changes to its residential and buy-to-let ranges.

The Yorkshire Building Society broker arm is now offering a five-year fix at 2.09% at 75% loan-to-value (LTV) which comes with a £495 product fee, £500 cashback on completion and free standard valuation.

At 80% LTV the mutual has also launched a 1.70% mortgage with a £495 fee plus £250 cashback on completion, free standard valuation and free legal fee and at 95% LTV there is a 3.65% two-year fix with £500 cashback.

Ben Merritt, mortgage manager at Accord, said: “There is some trepidation amongst borrowers as the Bank of England suggested that interest rate rises may come thick and fast, so many are keen to lock into a good deal now.

“This is why we have decided to launch a choice of competitive options to suit a range of borrowing needs and budgets.

“In particular, our discounted SVR offerings may appeal to borrowers looking for flexibility and competitive monthly repayments over a short period. Borrowers can redeem their mortgage at any time during the discounted period and will only incur a 1% early repayment charge (ERC), which is lower than our typical fixed rate ERCs.”

Bank of Ireland

Meanwhile, Bank of Ireland has confirmed changes to its residential, First Start and buy-to-let ranges.

Residential rates have reduced by up to 0.14% with a range of two, three and five-year rate options and the lender has reduced its 85% loan to value (LTV) rates which now start from 1.40% for a two-year fixed, and 90% LTV rates start from 2.05%.

The provider also offers a combination of features, including free standard valuation, free legals and cashback.

Rates on the provider’s First Start product, which combines the income of the buyer with that of a sponsor, has been cut by up to 0.19% and the procuration fee increased to 0.50% a few weeks ago.

The bank’s buy-to-let range has seen rates reduced by up to 0.20%, with two-year rates starting from 1.49% for 60% LTV, and 75% LTV rates from 1.82%.

Alison Pallett, director of sales, Bank of Ireland UK said: “We’re so pleased to announce the launch of this new and improved range, and happy to be continually supporting the broker market. Our new rates will further support our brokers to help even more customers.”

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