The mortgages for borrowers with a 10 per cent deposit include a two-year fix with a rate of 5.17 per cent. This is for house purchase and has a £995 fee, as well as £500 cashback and a free standard valuation.
There is a three-year fix with a rate of five per cent for remortgage. This has a £995 fee, offers £250 cashback, remortgage legal services and a free standard valuation.
Rate reductions include a three-year fix at 85 per cent LTV which has gone down from 5.2 per cent to 4.9 per cent. This is for remortgage, has a £995 fee, £250 cashback, remortgage legal service and a free standard valuation.
A five-year fix at 75 per cent LTV has been lowered from 4.62 per cent to 4.47 per cent. This is for purchase and remortgages and has a £995 fee.
Gemma Hyland, mortgage manager at Accord, said: “We’ve reviewed our product range and are now in a position to add shorter-term deals at 90 per cent LTV, offering additional options to borrowers with smaller deposits who may wish to fix for a shorter period, due to market uncertainty or personal circumstances.
“We’ve decided to reduce rates across the board after continuing to carefully monitor market conditions, to ensure we’re offering the most competitive value.”
She added: “I’m sure these changes will be welcome news to brokers and their clients.”
Bluestone cuts rates
Bluestone Mortgages has lowered rates across its residential two and five-year fixed products by as much as 0.7 per cent.
This applies to its standard and fee-free range, and pricing now begins 7.49 per cent for a two-year fix and 7.39 per cent for a five-year fix.
It has also lowered rates across its standard and fee-free buy-to-let mortgages, with two-year fixes receiving reductions of up to 0.64 per cent. Rates now begin at 8.49 per cent.
Reece Beddall, sales and marketing director at Bluestone Mortgages, said: “As climbing interest rates continue to put further financial pressures on households across the country, we, at Bluestone, remain committed to providing solutions to brokers and their customers amid this inflationary environment.
“Today’s rate reduction is further testament to this, and we hope that it will provide vital support to those underserved customers looking to make their homeownership dreams come true.”
