The changes will come into force from tomorrow, with rate reductions of up to 0.64 per cent applied to products at 95 per cent LTV, including new builds.
Up to 0.6 per cent reductions have been applied to deals at 90 per cent LTV, and rate decreases of around 0.45 per cent have been made on deals at 60 per cent LTV and 0.48 per cent at 75 and 80 per cent LTV tiers.
Highlights of the changes include a fee-free five-year fixed rate up to 95 per cent LTV at 5.06 per cent, down from 5.7 per cent. It is available for those using the Deposit Unlock scheme and comes with £250 cashback and free standard valuation.
The lender’s two-year fixed rate at 90 per cent LTV, available for home purchase, will be 5.04 per cent, down from 5.47 per cent. It comes with free standard valuation, a product fee of £995 and £500 cashback.
A fee-free two-year fix at 90 per cent LTV has decreased from 6.21 per cent to 5.61 per cent. It is available for remortgage and comes with a free standard valuation and £500 cashback.
The lender’s three-year fixed rate at 60 per cent LTV is falling to 4.73 per cent from 5.18 per cent.
It has a £995 completion fee, £500 cashback and free standard valuation, and is available for home buyers.
Accord Mortgages’ mortgage product manager, Gemma Hyland, said: “Due to changes in market conditions driving falling swap rates, we’re reacting quickly and taking the opportunity to review our product range, to offer brokers and their clients better value.
“We’re especially pleased to make these changes to higher LTV products, recognising that these borrowers may need our support more than others, particularly in the current climate.”
