Mortgages  

Accord overhauls offset range

Accord overhauls offset range

Accord Mortgages is to launch five new options to its offset range tomorrow (1 February) including a choice of mortgages with no upfront fee.

The new offsets are available to both buyers and borrowers looking to remortgage over a choice of different terms.

These will include: a 2.02 per cent two-year fixed rate offset at 85 per cent loan-to-value (LTV) with no upfront product fee and a 2.44 per cent two-year fixed rate offset at 90 per cent LTV with a £995 product fee.

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Also a 2.09 per cent three-year fixed rate offset at 85 per cent LTV with a £995 product fee and a 2.19 per cent five-year fixed rate offset at 65 per cent  LTV with a £995 product fee.

Finally a 2.99 per cent five-year fixed rate offset at 85% LTV with no upfront product fee.

The intermediary-only lender, which is part of the Yorkshire Building Society Group, has also reduced rates on selected 80 per cent, 85 per cent and 90 per cent LTVs by up to 0.30 per cent.

This includes a 1.99 per cent two-year fix at 90 per cent LTV with a £995 product fee available to buyers and remortgaging customers.

Those looking for remortgage over a longer term can opt for a five-year fix at 2.76 per cent at 90 per cent LTV. This mortgage comes with a £995 product fee, plus the additional features of free standard valuation and free legal fees.

David Robinson, national intermediary sales manager at Accord, said: “The extension of our range is part of a series of improvements to make our offset mortgages more appealing to borrowers. These new additions give borrowers with different budgets a greater choice of competitive offset options.

“Offsets have lots of advantages and can be extremely beneficial for borrowers with a good amount of savings, or those who have less regular incomes due to commission or because they are self-employed. We’re committed to supporting brokers to educate more clients about the cost savings this type of home loan can provide.”

Jane King, mortgage adviser at London-based Ash Ridge, said: “I am a massive fan of offsets as many of my clients have large bonuses and like the flexibility of being able to offset.

 

“Accord are my number one go to for these mortgages as the rates are great and they go up to 85 per cent LTV.  These are great products at competitive rates and I will be using them a lot. Their rate reductions are also welcome news, especially at 90 per cent where they are always at the top, or near, of the research systems.”