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Accord cuts resi mortgage rates for second time in two weeks

  • 10/07/2024
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Accord cuts resi mortgage rates for second time in two weeks
Accord Mortgages has reduced its residential mortgage rates for the second time in the last two weeks, with cuts of up to 0.25%.

This follows the reductions the lender made to its residential and buy-to-let (BTL) mortgage rates on 3 July, which it said was made possible because of the more stable market. 

This week, Accord Mortgages has lowered a five-year fixed rate at 75% loan to value (LTV) for house purchase from 4.95% to 4.8%. This has a £1,995 fee and a free standard valuation. 

There is also a three-year fixed remortgage deal at 80% LTV, which has been reduced from 5.43% to 5.38%. This has a £995 fee, free legals and a free standard valuation. 

At 90% LTV, there is a five-year fixed deal with a rate of 6.39%, down from 6.64%. This is available for purchase, including against new-build flats, and has a £995 fee, £250 cashback and a free standard valuation. 

Gemma Hyland, mortgage product manager at Accord, said: “We’re delighted to be able to further reduce our mortgage rates so soon after our last reduction. There is increased optimism in the market and we’re seeing the return of greater stability in the rate outlook. The prospect of a potential cut to the Bank of England base rate in the near term is sure to be welcomed by borrowers.

“We will continue to carefully monitor market developments for further opportunities to pass on as much value as possible to our borrowers.” 

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