MortgagesOct 31 2014

Launch Pad: Mortgages

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Accord Mortgages has cut rates on its 90 per cent and 95 per cent loan-to-value mortgages by up to 0.5 per cent, in a move designed to help more first-time buyers on to the housing ladder.

Home buyers with a 10 per cent deposit can get a two-year fixed-rate mortgage at 3.59 per cent, a £345 product fee and free standard valuation.

Borrowers with a 5 per cent deposit can pick up a two-year fixed rate mortgage for a rate of 4.99 per cent and an £845 product fee from the intermediary-only lender, which is part of Yorkshire Building Society Group

Key Features

Other 90% LTV products changing as part of the rate reduction are:

Two-year fixed mortgage at 3.34% with £845 product fee

Two-year fixed mortgage at 3.44% with £845 product fee and free standard valuation and £250 cashback

Two-year fixed mortgage at 3.44% with £345 product fee

For those looking for a zero fee option on a 95% loan-to-value, there is a two-year fixed-rate mortgage at 5.39% with £750 cashback

Adviser verdict

Andrew Montlake, director for London-based Coreco, said: “Accord has been pretty consistently competitive over the past few months in terms of rates and fees. Certainly the company has got a good spread of mortgages and we have seen that it is putting out a lot of lower rates.”