Accord has launched a new fixed rate mortgage for borrowers with a 35 per cent deposit and made further rate reductions on its existing products.
The intermediary-only lender is offering a two-year fixed rate at 1.25 per cent to house buyers at 65 per cent loan-to-value (LTV), which comes with a £995 product fee.
Further reductions of up to 0.1 per cent have been made on two-year fixed rates across the lender’s 65 per cent, 75 per cent, 80 per cent and 85 per cent LTV range.
David Robinson, national intermediary sales manager at Accord, said: “Our new 65 per cent LTV home loan is the third new lower loan-to-value mortgage we have launched in the last 10 days.
“We’re pleased to have made further reductions on our two-year fixed rate mortgage range.
"Many borrowers are looking for competitive short-term fixes at the moment, so our new offerings should appeal to borrowers with differing budgets.”
Liz Syms, chief executive at London-based Connect Mortgages, said: “Halifax has a similar product at 1.24 per cent and Nationwide has one at 1.24 per cent with a £999 fee and free valuation.
“It is good to have choice, without question, but that product has probably come out as a response to Nationwide and Halifax.”
simon.allin@ft.com
