Accord has launched a range of £495 fee mortgages for borrowers with lower loan sizes to help minimise the upfront cost of buying a home.
From today (7 April), the new, two-year fixed rate mortgages will provide borrowers with lower fee options across the intermediary-only lender’s range at 65 per cent, 75 per cent, 80 per cent and 85 per cent loan-to-values (LTVs).
A 1.47 per cent two-year fixed rate with a £495 fee is available to both house buyers and remortgage customers with a 25 per cent deposit, which includes free standard valuation.
Remortgage customers can benefit from a 1.48 per cent two-year fixed rate at 75 per cent, with £250 cashback on completion, free standard valuation and a £495 product fee.
Accord, which is part of the Yorkshire Building Society, has also made rate reductions of up to 0.18 per cent on a range of 65 per cent, 75 per cent, 80 per cent and 85 per cent LTV mortgages.
David Robinson, national intermediary sales manager at Accord, said: “Rates continue to remain low for borrowers and we’re helping to ensure those borrowers seeking to pay lower fees are also benefiting.
“A lot of borrowers are attracted to a headline low rate but the size of their loan will determine which deal costs them the least overall, which is something their broker can help them with.
“Our fixed rate mortgages - particularly the two year options - have been popular with borrowers looking for low-fee products and our new offerings also come with added features such as cashback on completion or free valuation, which can help to keep down costs even further.”
Tony Salentino, director at Complete FS in Southampton, said: “I think the big thing is that with house prices having increased, the deposit that first-time buyers are having to find is now so high that anything that reduces the upfront cost has to be a positive.”
simon.allin@ft.com
