The two-year residential purchase products from Accord will be lowered by up to 0.25 per cent and up to 0.2 per cent for three and five-year products.
Three-year residential remortgage deals will fall by around 0.2 per cent, two-year products by up to 0.15 per cent and five-year products by up to 0.1 per cent.
The company’s 10-year product will go down by around 0.2 per cent.
Highlights of the Accord range include a two-year fixed purchase rate up to 75 per cent loan to value (LTV) at 5.16 per cent, formerly 5.41 per cent. It comes with a £1,495 fee and free standard valuation.
The three-year fix to 85 per cent LTV, for remortgage clients, now stands at 5.35 per cent, down from 5.55 per cent. This comes with a £995 fee, free standard valuation and remortgage legal service.
The lender’s fee-free five-year fix, up to 95 per cent LTV, for house purchase, is priced at 5.51 per cent, a fall from 5.71 per cent, with £250 cashback and free standard valuation.
Accord: Reductions ‘in a volatile environment’
Gemma Hyland, mortgage manager at Accord, said: “Having reviewed market conditions, we’re taking the opportunity to reduce our rates again, offering brokers and their clients even better value, our latest in a series of reductions which we hope will once again prove welcome in this volatile environment, when we know people are really struggling to keep their costs down.
“Reducing rates across a variety of initial fixed terms also means that the new range should appeal to a wide variety of borrowers, regardless of their individual circumstances.”
TML adds residential products to offer greater flexibility for borrowers
The Mortgage Lender has bought out new products in its residential range to “provide greater choice and flexibility for mortgage brokers and their clients”.
It includes a two and five-year fixed rate at 90 per cent LTV for properties with an EPC rating between A and C.
The products will also have a builder gift or incentive of up to five per cent as part of the deposit on new build purchases.
The lender has also extended its maximum residential mortgage term from 35 to 40 years.
Chris Kirby, head of key accounts and specialist distribution at TML, said: “At TML, we’re striving to support mortgage brokers, and their clients, by increasing the options available to them.
“With the launch of our 90 per cent LTV residential products, available for purchases of properties with an EPC rating of A-C, we will be able to provide solutions to those with smaller deposits with their homeownership ambitions.
“By making these products available to properties with an EPC rating of A-C, we are providing an option to those looking for lower emitting, more energy efficient and cheaper to run properties.”
He added: “We’re aware that for many consumers it’s important to have the flexibility to have a lower payment in line with their budget, so by also extending the maximum term on our residential products from 35 to 40 years, we will be able to help more consumers with the mortgage being paid off by retirement or age 70, whichever is sooner.”
Craig Hall, director, new homes financial services at LSL, said: “It is vital that we have a range of solutions for all homebuyers, particularly for those that don’t fit the high street lenders, and therefore, it is great to see further choice for first time buyers and movers with a deposit of 10 per cent.
“This is welcome news and highlights growing lender confidence in the New Homes sector and more energy efficient homes, well done to the team at TML.”
