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Accord launches new Help to Buy scheme mortgages

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  • 14/12/2020
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Accord launches new Help to Buy scheme mortgages
Accord Mortgages has added a new range of deals for use under the changed Help to Buy scheme.

 

The altered government initiative continues to support buyers getting a foot on the property ladder but has regional price caps in place and may only be used by first-time buyers, helping to curtail its use among the wider market.

The lender is offering a collection of refreshed two and five-year fixed rates ahead of reservations for the new scheme commencing on Wednesday 16 December 2020.

Rates of 2.10 per cent and 2.16 per cent fixed for two and five years respectively are available at 60 per cent loan to value (LTV).

At 75 per cent LTV, the lender has a two-year fix of 2.19 per cent and five-year fix of 2.25 per cent.

The two-year fixes come with a £495 product fee, £500 cashback and free valuation, while five-year deals have a £995 product fee, £1000 cashback and free valuation.

The products can also be used for any Help to Buy applications in Wales which will continue using its existing scheme until 2022.

At the same time, Accord is also launching eight fee-free products between 75-85 per cent LTV with up to £500 cash back and free valuations for house purchase and up to £250 cash back, free valuation and free legal services for remortgages.

Nicola Alvarez, corporate account manager – proposition development at Accord Mortgages, said: “Having already supported the purchase of nearly 3,000 homes within the current Help to Buy scheme, we are delighted to be launching a range of products for the new scheme and help even more would-be home owners make that first purchase.

“There are some key changes between the current and new scheme, most notably that all applicants must be first-time buyers, having never owned a home anywhere in the UK or the world.

“There are also regional caps, all the details of which can be found in our growth series Help to Buy guide. We are committed to supporting brokers with the transition as well as offering the dedicated new build support, underwriting and service brokers have come to expect from us.”

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