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Accord cuts rates at higher LTVs

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  • 12/09/2023
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Accord cuts rates at higher LTVs
Accord has reduced interest rates on its products available at higher loan to values (LTV).

Rates are being reduced by up to 0.15 percentage points at 95 per cent LTV, while rates are dropping by up to 0.20 percentage points at 75 per cent LTV.

The new range, which goes live from 8am on Wednesday 13 September, will include a three-year fixed at up to 85 per cent LTV at 5.95 per cent, down from 6.10 per cent. This remortgage product comes with a £995 fee, free valuation and legal service.

There is also a five-year fix at up to 90 per cent LTV at 5.60 per cent, down from 5.75 per cent, which comes with a £495 fee, £250 cashback and a free standard valuation.

Gemma Hyland, mortgage product manager at Accord, noted that this was the second rate cut in consecutive weeks, and was the result of being able to take advantage of market sentiment around the prospects for the economy.

She continued: “These changes demonstrate our commitment to offering more competitive products and better value to brokers and their clients on an ongoing basis.”

Samuel Mather-Holgate, independent financial adviser at Mather and Murray Financial, said that these rate cuts suggest that Accord is confident there will not be “too much of a housing crash”, and suggested it was unlikely they would be around for long.

Justin Moy, managing director of EHF Mortgages, added: “Most lenders are grouping around similar pricing points on both short- and long-term fixed deals. The question is how long, now, before we drop below five per cent on a five-year fixed deal?”

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