Accord Mortgages has reduced its residential rates by 0.15 per cent across its two-year fixed-rate range.
Borrowers with deposits from five to 35 per cent can take advantage of the reductions from Yorkshire Building Society Group’s intermediary-only lender.
Homebuyers using a broker to find mortgages at 80 per cent loan-to-value can now access a 2.19 per cent rate on a two-year fixed-rate mortgage with a £345 fee and free standard valuation, and a 2.09 per cent rate on a two-year fixed rate mortgage with an £845 product fee, free standard valuation and £250 cash back on completion.
The 0.15 per cent discount also applies to a range of two-year fixed-rate mortgages at 85 per cent LTV, including a two-year fixed-rate mortgage at 2.34 per cent with a £845 product fee.
There are also reductions of 0.1 per cent at 65 and 75 per cent LTV, with the range including two-year fixes from 1.74 per cent and 1.79 per cent respectively
Similarly, there are also rate reductions of 0.1 per cent on a 90 per cent LTV two-year fixed-rate mortgage and 0.05 per cent on a 95 per cent LTV two-year fixed-rate mortgage.
Provider’s view:
David Robinson, national account manager at Accord Mortgages, said: “We are always looking for ways to offer homebuyers and brokers choice and value across our range. The changes include popular incentives such as cash back and free standard valuations, which complement the high standard of customer service and competitive mortgage rates you’d expect from Accord.”
Adviser’s view
Paul Dorward, mortgage adviser at Sheffield-based Pad Financial, said: “There has been a lot of reduction in prices and rates across the board recently. This allows providers to almost cherry pick who they are willing to lend to. So low rates are not everything, it is important for the customer to look at the lender’s criteria.”
Charges
At 65 per cent LTV
£345 on 1.89 per cent on two-year fixed-rate mortgage (with free standard valuation and £250 cash back on completion)
£345 on 1.74 per cent on two-year fixed-rate mortgage.
At 75 per cent LTV
£345 for a 1.94 per cent two-year fixed-rate mortgage (with free standard valuation and £250 cash back on completion)
£845 for a 1.79 per cent two-year fixed-rate mortgage .
£845 for a 1.84 per cent two-year fixed-rate mortgage (with free standard valuation and £250 cash back on completion)
At 80 per cent LTV
£345 for a 2.19 per cent two-year fixed-rate mortgages for homebuyers using brokers (with free standard valuation and £250 cash back on completion).
£845 for a 2.09 per cent two year fixed-rate mortgage for homebuyers using brokers (with free standard valuation and £250 cash back on completion).
At 85 per cent LTV
£345 for 2.44 per cent two-year fixed rate mortgage.
£345 for 2.54 per cent two-year fixed-rate mortgage (with free standard valuation and £250 cash back on completion)
£845 for 2.34 per cent two-year fixed-rate mortgage.
£845 for 2.44 per cent two-year fixed-rate mortgages (with free standard valuation and £250 cash back on completion)
Verdict
Plummeting rates and prices are on trend at the moment, with many providers willing to make competitive offerings in a bid to bolster their profits. Though these reductions are not best in the marketplace, they are a clear signal of intent by Accord Mortgages.
