Accord launches ten-year fixed rate

Accord launches ten-year fixed rate

Accord Mortgages has become the latest lender to launch a 10-year fixed rate mortgage.

The deal offers homebuyers with a 25 per cent deposit a rate of 2.49 per cent with free standard valuation and a £495 product fee.

The 10-year fix, which is also available to remortgage customers, joins a range of similar products already on the market.

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In September Kensington Mortgages launched a 10-year deal at 75 and 80 per cent LTV, beginning at a rate of 4.34 per cent.

The Mortgage Works, Halifax, and Coventry for Intermediaries also offer versions of the product.

Meanwhile Accord has cut the rates on its 90 per cent and 95 per cent LTV mortgages.

The lender now offers a five-year fixed rate at 2.53 per cent, and a five-year remortgage at 2.55 per cent.

For those buying a new home with a 5 per cent deposit a two-year fixed rate at 3.12 per cent and a five-year fixed rate at 3.42 per cent are available.

Jemma Anderson, mortgage manager at Accord Mortgages, said: "It’s a pretty uncertain time at present, so we’re delighted to launch the new 10-year fixed rate which we hope will offer brokers with clients seeking stability a product which enables them to manage their longer term finances.

"We’re continually reviewing the range based on broker feedback and as a result, to assist borrowers with a smaller deposit we’ve improved our higher LTV rates as well as offering £1,000 cashback and free standard valuation to help manage the costs of moving house."

Accord Mortgages Limited is the intermediary lending subsidiary of Yorkshire Building Society.