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Accord Mortgages ups resi LTV to 95 per cent

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  • 19/10/2022
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Accord Mortgages ups resi LTV to 95 per cent
Accord Mortgages has increased the maximum loan to value (LTV) for its residential mortgage range to 95 per cent, which will improve choice for borrowers with smaller deposits.

The maximum LTV was previously 85 per cent on two and five-year fixed rates.

The lender has also made Help to Buy, Deposit Unlock, new build, Boost LTI and cascade products available up to 90 per cent LTV along with a range of three-year fixed rates and discounted Standard Variable Rate mortgages.

Products include a five-year fixed rate at 6.35 per cent at 90 per cent LTV, which comes with a £995 fee, £500 cashback and standard valuation for house purchase.

There is also a five-year fixed rate of 6.71 per cent at 95 per cent LTV with a £995 fee, £750 cashback and standard valuation for house purchase.

The lender has brought out a two-year fixed rate Help to Buy product priced at 6.1 per cent at 60 per cent LTV, with a £995 fee, £500 cashback and standard valuation.

Accord Mortgages range also include a two-year discounted SVR rate of 4.19 per cent at 85 per cent LTV, with a £995 fee, £500 cashback and standard valuation.

 

‘A sensible and phased return’

The intermediary-only lender was one of several lenders that temporarily withdrew products near the end of September following instability in the financial markets after the mini Budget.

Accord Mortgages returned to the market at the start of October with a select range of residential products, adding at the time it wanted to introduce more products soon.

Jeremy Duncombe (pictured), managing director at Accord Mortgages, said: “Our sensible and phased return to market means we’re now in a position to start lending again with a wider range of mortgages, which I’m sure will be welcome news to brokers and their clients, particularly those with the smallest deposits.

“As a responsible lender, we’ve carefully monitored the market and maintained our currently excellent service levels to make sure brokers continue to receive the quality of service they expect from us.”

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