Accord reduces rates on resi loans by up to 35bps   – Mortgage Strategy

Accord Mortgages will cut residential fixed-rate offers by as much as 35 basis points on up to 95% loan-to-value products from Tuesday (27 August).

Yorkshire Building Society’s broker-only lender adds that home purchases up to 85% LTV will also fall – with two-year deals reduced by as much as 35bps and three-year rates discounted by up to 25bps.

Five-year loans up to 85% LTV will come down by up to 20bps, while those looking to fix for 10 years will see rates 20bps lower up to 85% LTV.

Borrowers with smaller deposits will see rates come down by up to 15bps at 90% LTV and 95% LTV.

The lender will also lift cashback by £250 on selected products across the range.

It adds that the rate on its £5,000 Deposit Mortgage – launched in March, which allows first-time buyers with a £5,000 deposit to buy a property valued at up to £500,000, will also be cut by 15bps to 6.24% for a five-year fix.

Other highlights include:

• A fee-free two-year fix for remortgage clients up to 85% LTV at 5.58% (was 5.93%), with free standard valuation and remortgage legal service
• A five-year fix, suitable for house purchases up to 75% LTV at 4.30% (was 4.45%), which comes with a £1,995 fee, £250 cashback and free standard valuation
• A three-year fix, for house purchases up to 80% LTV at 4.92% (was 5.17%). This comes with a £995 fee, £500 cashback and free standard valuation

Accord mortgage product manager Gemma Hyland says: “As usual, we’ll continue to monitor market trends, reacting wherever we can to pass on added value to borrowers.”

Product end dates will be extended until 30 November.

The move comes after Accord cut rates on its landlord loans by up to 20bps on Wednesday.