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Accord Mortgages to lower residential mortgage rates by up to 0.35%

Anna Sagar
Written By:
Posted:
August 23, 2024
Updated:
August 23, 2024

Accord Mortgages is cutting residential mortgage rates by up to 0.35% for deals up to 95% loan to value (LTV).

The changes to Accord Mortgages’ residential mortgage rates come into force from 27 August.

The largest decreases to residential mortgage rates will be applied to deals up to 85% LTV, with two-year fixed rates falling by up to 0.35% and three-year fixed rates going down by around 0.25%.

For example, its fee-free two-year fixed rate for remortgage at 85% LTV will be priced at 5.58%, down from 5.93%, with a free standard valuation and remortgage legal service.

The lender’s three-year fixed purchase rate up to 80% LTV will decrease from 5.17% to 4.92%. It comes with a £995 fee, £500 cashback and free standard valuation.

Five-year deals up to 85% LTV will reduce by around 0.2% and 10-year products will be cut by around 0.2% up to the same LTV tier.

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The lender’s five-year fixed purchase rate at 75% LTV will reduce from 4.45% to 4.3%. It has a £1,995 fee, £250 cashback and free standard valuation.

At 90% and 95% LTV, residential mortgage rate cuts of around 0.15% will be applied.

Accord Mortgages is increasing cashback on selected residential mortgage rates to £250.

The rate for the firm’s £5,000 Deposit Mortgage, which was launched in March and allows first-time buyers with just a £5,000 deposit to buy a property up to £500,000, will be lowered by up to 0.15% to 6.24% for a five-year deal.

Gemma Hyland, mortgage product manager for Accord, said: “We’re very pleased to be able to further reduce rates throughout our range, so that a variety of borrowers – including those looking to get onto the property ladder for the very first time – can benefit.

“As usual, we’ll continue to monitor market trends, reacting wherever we can to pass on added value to borrowers.”

Accord Mortgages last lowered rates last week, specifically lowering buy-to-let (BTL) deals by around 0.2%.