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Accord offers 90 per cent LTV deals to first-time buyers

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  • 16/06/2020
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Accord offers 90 per cent LTV deals to first-time buyers
Accord Mortgages will be re-entering the 90 per cent loan to value (LTV) market with deals exclusively for first-time buyers from tomorrow.

 

The lender will be offering a five-year fixed rate at 2.99 per cent with a £495 product fee and a fee-free option priced at 3.09 per cent. Both deals come with a free valuation.

To be eligible for the products, at least one applicant must be a first-time buyer.

There are no changes to lending criteria or loan sizes.

Accord Mortgages director of intermediary distribution Jeremy Duncombe said: “Our commitment to the housing market has not changed and our new range of products aims to help first-time buyers with smaller deposits, a group which has so far been offered limited choice.

“This will help the purchase market and keep chains moving, hence allowing subsequent buyers to keep moving on.”

Duncombe said the bank took the decision to reluctantly withdraw from 90 per cent lending just over a week ago to bring its service levels back on track.

He added: “We hope by offering longer term fixed-rate products borrowers are given confidence in managing their payments in a very uncertain market.

“We know the demand is there and we have streamlined our products to ensure we can support brokers and their clients on the purchase journey.”

 

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