The lender noted that the move is designed to help customers to cope with the ‘more volatile mortgage market environment’.
The new range offers tracker options up to an 85 per cent loan to value (LTV). These will start from 0.54 per cent plus the Bank of England base rate of 5.25 per cent without ERCs.
This means that borrowers taking out one of these products will have the flexibility to switch their deal without incurring penalties.
The intermediary-only lender has also decided to cut rates across its residential range at higher LTVs, with changes including a discount of up to 0.23 per cent at 75, 80 and 85 per cent LTV.
There is also a reduction of up to 0.22 per cent for borrowers with the smallest deposits at 90 and 95 per cent LTV.
Accord: ‘Outside-the-box solutions’
Mortgage product manager Gemma Hyland said: “We’re constantly looking for ways in which we can help borrowers with outside-the-box solutions at this challenging time, and we hope the introduction of these new tracker products without ERCs will appeal to those who prefer to keep their options open while interest rates are changing frequently, while benefiting from a competitive interest rate in the meantime.
“Reducing rates demonstrates our commitment to offering products which are as competitive as possible, ensuring better value to brokers and their clients at all times.”
