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Accord brings back 75 and 80 per cent LTVs after Covid outbreak

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  • 08/02/2021
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Accord brings back 75 and 80 per cent LTVs after Covid outbreak
Accord Mortgages is returning to 75 and 80 per cent loan to value (LTV) mortgages after the lender withdrew from the market to manage service levels following a Covid outbreak at one of its underwriting centres.

 

The intermediary arm of Yorkshire Building Society temporarily withdrew from the market while operating with a reduced number of underwriters at the end of last month.

The mortgage tiers relaunch its new range on 11 February, alongside reductions on 90 per cent LTV products.

As the deadline passed in December for applications to Homes England for the first Help to Buy Scheme, Accord will also withdraw the products related to this scheme.

The lender’s 2021 to 2023 Help to Buy products will continue to be available.

The new range includes a two-year 75 per cent LTV for remortgage at 1.84 per cent with a £495 product fee, and a five-year 75 per cent LTV at 1.87 per cent for house purchase, with a £495 product fee.

There is also a two-year 90 per cent LTV at 3.78 per cent for house purchase with no product fee and £750 cashback on completion.

Accord managing director Jeremy Duncombe (pictured) said: “I’m pleased to say that our colleagues have been able to return to work, and so we will be re-launching our full product range on Thursday 11 February, having also extended end dates, and reviewed pricing and incentives.

“We have continued to accept applications and lend on all other products in the current range, supporting customers and brokers at higher loan to values where choice is more limited, and want to thank brokers for their patience and understanding during this period.”

 

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