Accord cuts rates on selected mortgages

Accord cuts rates on selected mortgages

Accord has cut its rates by up to 0.29 per cent on a number of fixed term mortgages.

The intermediary-only lender, which is part of Yorkshire Building Society Group, reduced rates for borrowers with 25 per cent, 20 per cent and 15 per cent deposits.

For those with at least a 25 per cent deposit, it is offering a two-year fixed rate of 1.69 per cent, with a £495 product fee, which is available to both home movers and those who want to remortgage.

Clients who want to remortgage with lower upfront costs can secure a rate of 1.80 per cent, fixed for two years, with a £495 product fee, £250 cashback on completion, free standard valuation, and free standard legal fees.

Jemma Anderson, residential mortgage manager for Accord, said: "We’ve made some competitive additions to our mortgage range to ensure we are giving all borrowers options, whatever their needs or budget.

"We hope the new range will help brokers and their clients to secure the right mortgage for them."

The rates have been welcomed by Daniel Bailey, principal at Middleton Finance, who said: "There are millions of homeowners coming to the end of their fixed rate deals in the last quarter of the year.

"Accord reducing their rates is great news for borrowers. The deals they are offering are extremely competitive."

But he added: "You will need a good level of deposit or equity to access the deals."

Daniel Hodgson, mortgage adviser at Ipswich-based Just Mortgage Brokers, said: "Accord is a lender that invariably sits in the best buy tables for brokers and this reduction to some of their rates in their portfolio will ensure they remain competitive and continue to feature in recommendations. 

"With the end of the year closing in, further tweaks to lenders' products will likely continue as they vie to meet their quotas and maintain market share."