The products will be available from tomorrow. These include a five-year fix for house purchase with a rate of 5.1 per cent, down from 5.3 per cent. This product has a £495 fee and offers £750 cashback alongside a free standard valuation.
There is also a five-year fix for remortgage, priced at 5.32 per cent down from 5.89 per cent. This also has a £495 product fee, offers £250 cashback and comes with free legals as well as a free standard valuation.
The lender has launched a product at 90 per cent loan to value (LTV), which is fixed for five years. This has a rate of 4.85 per cent, previously five per cent, and has a £495 product fee. It offers a free standard valuation, £500 cashback and is available for house purchase.
For borrowers requiring loans of up to £2m, Accord has added a two-year fix at 85 per cent LTV. This has a rate of 5.16 per cent, down from 5.35 per cent and offers £500 cashback. It has a £995 product fee and comes with a free standard valuation.
Acoord Mortgages: ‘Helping first-time buyers is a major focus’
Gemma Hyland, mortgage product manager at Accord Mortgages, said: “Helping first-time buyers has been a major focus for us in recent years, as we understand the challenges they face in getting a footing on the housing ladder and, ultimately, they are the engine room of the market – fuelling activity further up the sale and purchase chain.
“For remortgagers who also only have a five per cent deposit, there are very few product options out there, and we realised this is a gap we can fill, hence our decision to include a new option in this range.”
She added: “We’ve also been seeing more applications from people needing loans of up to £2m, perhaps as a result of increasing house price trends, which our new two-year, higher-loan product is designed to cater for.
“These are just the latest examples of how we are keeping a finger on the pulse of a fast-changing market, and helping brokers to support their clients through it.”
